Myriad's platform can be used in a wide variety of settings
Here are a few that may be able to help you
Risk comes in a number of forms, and can originate from a variety of sources. Predictive analytics can automatically sort through the mountains of data that many organizations collect, discover potential areas of risk, and display them in an organized report. By combining predictive analytics with a proactive risk management approach, teams are able to identify risk, decide on a plan to mitigate that risk, and execute it all before it ever reaches the surface.
Predictive analytics can be effective in the banking and lending industry when it comes to things like detecting fraud, determining credit-worthiness, and reducing risk and uncertainty in investments. Banks are able to increase their returns by allowing our system to find an edge in their data that may be invisible to the human eye.
Being able to predict demand for supplies and have a high level of control over logistics is critical to providing care in the Healthcare industry. Traditional models often fall short as they’re unable to quickly react to major events like the Covid-19 pandemic. By better predicting demand for supplies such as test kits, blood transfusions, etc., doctors and hospitals are able to better care for their patients and save more lives.
Maintenance on a manufacturing line is tricky. If you schedule it too soon, you may be causing unnecessary downtime. But if you wait too long, you run the risk of a machine breaking down on you when you need it most. By analyzing different types of machine lifecycle and maintenance data, companies can use predictive maintenance to perform critical system maintenance at exactly the right time and make more intelligent capital expenditure decision.
Businesses are all about the people. But as any manager or HR professional will tell you, one of the most difficult things to predict are your employees themselves. Predictive analytics can not only help answer questions when it comes to attracting new talent, but more importantly can shine some light into employee attrition and why people feel dissatisfied in their current positions. A smart HR team could use some of these insights to increase performance and morale, reduce employee churn, and attract only the best new talent.
When it comes to online marketing, it’s all about targeted ads. Being able to more accurately identify which customers to target with which ads allows marketing teams to increase their rate of return on advertising campaigns virtually overnight. Beyond ad-targeting, predictive analytics can help provide more intelligent product recommendations to existing customers, providing a better customer experience as well as increasing your average customer lifetime value.