Future-proofing business with connected decisioning
Imagine a customer who picks her morning coffee from her favourite coffee shop on her way to work. As part of the store’s loyalty program, she uses the coffee retailer’s app to track her points, play interactive games where she shares her food and beverage preferences, and receive special offers. One afternoon, she gets a notification for a personalized offer. Based on her points, recent orders, and preferences, the app suggests a limited-edition drink she hasn’t tried before, paired with her favorite sandwich at a discount. Delighted by the thoughtful suggestion, she stops by the next day to take advantage of the offer crafted just for her. The personalized touch makes her feel valued as a customer. She now visits the café more often, excited to discover the next surprise the app might offer.
By leveraging individuals’ purchase data alongside intelligence tools, enterprises can analyze patterns and make intelligent, connected decisions on products & services and personalized offers tailored to each customer’s preferences. This approach strengthens customer engagement, drives repeat visits and boosts overall sales. This is nothing but the power of connected decisioning. Connected decisioning is always-on decisioning that uses the power of connected data, connected content, and predictive analytics to make business decisions autonomous.
Business impact of connected decisioning
A Bain & Company survey of nearly 800 companies from markets across the world revealed a 95% correlation between businesses that excel in decision making and execution and those with top-tier financial performance, whether measured in terms of revenue growth, return on capital or total shareholder return.
In the era of big data, businesses collect vast amounts of information about customers, suppliers, operations, market trends, etc. Organizations need to make well-informed decisions to make the most of this data. This is possible through connected decisioning, which leverages data, analytics, and advanced machine learning (ML) models to predict the next best action across business workflows. Connected decisioning can be applied to various business processes, helping businesses future-proof their operations and lay the foundation for long-term success.
Risk management
By collecting data from multiple sources and preprocessing it for quality and relevance, connected decisioning systems can monitor transactions in real time and flag suspicious activities instantly. In case fraud is detected, automated systems can trigger appropriate responses, like blocking transactions or initiating investigations. Over time, the system becomes more sophisticated based on data and feedback, becoming more proactive. This enhances workflow efficiency and reduces the risk of financial loss.
Marketing
Intelligent decisioning systems augment marketing campaigns by providing scale, speed, and flexibility. It enables brands to generate real-time, intelligent insights, improving campaign targeting, tailoring, and messaging and optimizing allocation of budgets and resources across campaigns. They also help test advertising campaigns on various parameters in real-time and refine them, increasing the likelihood of generating desired Return on investment (ROI). By offering valuable insights into long-term brand health and campaign and advertising strategies, connected decisioning can empower businesses to future-proof themselves.
Supply chain optimization
By integrating real-time data on customer preferences, production levels, sales forecasts, inventory, and logistics routes and applying advanced analytics, intelligent decisioning forecasts demand, aligns supply with demand and minimizes inventory costs. It also optimizes production processes, reduces logistics costs and ensures products are available when and where customers need them. It makes supply chains more adaptable and agile and supports long-term business sustainability.
Unlock superior business outcomes with Areteans
Areteans offers a Connected Intelligence framework that empowers organizations with the tools needed to drive superior business outcomes and thrive in a competitive landscape. Our cutting-edge solution provides capabilities such as real-time data distribution, advanced decision-making and intelligent content delivery. At its core is the Connected Decisioning component, powered by Pega’s Customer Decision Hub and backed by Areteans’ unmatched Pega expertise. It leverages data and advanced self-learning and machine learning models that empower enterprises with capabilities such as:
- Real-time customer interaction management
- Customer journey optimization for delivering experiences across touchpoints
- Tailored content delivery in real-time
- Predictive analytics for cross-sell and upsell opportunities
- Next best actions for offerings, service actions, communication channels, content delivery, campaigns, etc.
Connect with Areteans today to future-proof your business in the increasingly dynamic business environment.