Leader in business insights and predictive analytics introduces cognitive computing solution to help companies identify future opportunities and threats with real-time, global data
November 7, 2017, Sunnyvale, Calif. – Prevedere, an industry insights and analytics company, today announced the launch of its cognitive computing engine, ERIN, to help executives proactively identify future performance problems and seize growth opportunities. Built on Microsoft Azure Machine Learning, ERIN stands for “External Real-time INsights.” Powered by a combination of human intelligence and machine learning, ERIN propels enterprise executives, sales, marketing, finance and operational leaders with future-focused insights delivered at the speed of business.
The ERIN engine constantly analyzes Prevedere’s proprietary data collection, which includes millions of external economic, consumer behavior, online and social data sets, to provide companies the ability to leverage external factors as readily and easily as internal data. The first cognitive computing engine of its kind, ERIN then determines the best combination of leading indicators, out of millions of possible choices, to develop actionable insights easily consumed by business leaders, creating unprecedented business advantage.
“Executives have never been able to prepare for the future with confidence, because traditional data analyses have been largely based on the past,” said Rich Wagner, CEO, Prevedere. “With ERIN, Prevedere is elevating analytics to deliver valuable, future-oriented insights that enterprises need. ERIN was built to mimic the mind of industry experts, economists and data scientists but with the power and scalability of cloud computing and machine learning. This makes it a trusted, unbiased ally for executives in many of the top companies across industries. ERIN provides a holistic view of all the critical information they need to confidently solve for tomorrow’s problems today.”
Specifically, Prevedere incorporated four key enterprise needs in ERIN’s development, including:
- Simple implementation: ERIN was built using the power and scalability of Microsoft Azure, eliminating any new hardware or software requirements or costly installations.
- Automated identification and predictive engine: ERIN constantly monitors millions of global economic data sets, alerting enterprises to upcoming headwinds and tailwinds so they can be more proactive in their strategic planning.
- Clear and concise insights built for the business user: ERIN provides intuitive business intelligence in a way that is easy for executives and decision-makers to understand, interpret and act upon.
- Immediate ROI: ERIN provides answers to critical marketing, operational and financial questions in real-time, so companies can see performance improvements in weeks or months – not just years down the line.
By leveraging ERIN, Prevedere helps business leaders accurately identify growth opportunities while avoiding risks associated with unplanned events that impact the bottom line, like shifts in consumer behavior and fluctuating supply chain costs. Executives can now feel confident about the future of their business in the months and years ahead by leveraging ERIN’s combination of human intuition and data-driven foresight.
ERIN is available via enterprise subscriptions through Prevedere and seamlessly connects to all ERP, planning and forecasting systems, including availability via Microsoft’s partner network.
“Microsoft knows that the ability of a business to transform data into AI is the key to smart decisions and future success,” said Leo de Luna, managing director, Microsoft Ventures, an investor in Prevedere. “Having ERIN on the Microsoft Azure platform, as well as leveraging Prevedere as a Microsoft Certified Solution, enables our mutual customers to harness the power of the cloud to obtain an intelligent and in-depth view of their company’s future.”
When companies rely on data analysis that is not timely, accurate or complete, their future performance is at risk. Analytics captured in spreadsheets and data warehouses only provide insight into past performance, and business intelligence and data visualization tools don’t provide a complete picture of the forces that truly drive business. Even with deep insights into past performance, the future is unknown and constantly changing – meaning strategies that were profitable before are unlikely to result in the same ROI again. With ERIN, however, businesses can gain accurate foresight and use this knowledge to their advantage, helping them proactively control future uncertainties.
To learn more about Prevedere, visit prevedere.com/erin/
Prevedere is an industry insights and predictive analytics company, helping business leaders make better decisions by providing a real-time view of their company’s future. While most companies can easily report on internal performance, Prevedere’s external real-time insights engine constantly monitors the world’s activity, identifying future threats or opportunities to business performance. Along with a team of industry experts, data scientist, and economists, Prevedere helps business leaders make the right decisions in an ever-changing world.
Named a 2017 Red Herring North America Top 100 Company, the Best Business Intelligence Reporting & Analytics Solution of 2017 by the SIIA CODiE Awards and the Most Innovative Tech Company of the Year by the 2016 American Business Awards, Prevedere works with top global companies. To learn more, visit prevedere.com and follow @Prevedere on Twitter.