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What are Prescriptive Analytics? Interview with Profitect CEO Guy Yehiav



In this interview at the NRF17 Retail's Big Show I spoke with Guy Yehiav CEO of Profitect, a company providing a service called Prescriptive Analytics to retailers.


What are Prescriptive Analytics?  Interview with Profitect CEO Guy Yehiav

 

Reports, reports, reports.  We're drowning in reports!  Paper reports, digital reports, email reports, there is no end!  We love data and swer by it, for good reason.  But using this data is becoming a big challenge for everyone (including shoppers, but we'll focus on the business side today).  

There is an elephant in the room that's sitting between the data and action - this is the Report overload.  Reports are great, they provide a lot of good data and some look really nice, some are animated and dashborads are a must but they take time to read, analyze, make decisions and ultimately take actions on.  And action is what makes the difference.  You can have all the best, most accurate and powerful data and information but if you do not or can not take actions it's all useless.

The next generation of analytics software needs to eliminate the needs for reports and go directly from data to action, with human oversight to take additional insight but the basic actions should not involve human involvement or we're just adding more work for ourselves, and we're not serving customers propely, when and how they expect and need it.

Listen to this conversation for learning how Profitect helps retailers get beyond the report maze and into action.