This is a nice blog post about “Three Ways Pattern Analytics Will Grow Your Business”. The article explains in a straightforward way what pattern analytics is and why it can be difficult to implement. Because the data is typically big and contains many variables, you will need some tools that automate the pattern discovery. By the way this is what Trendalyze provides.
According to the blog, the first way to grow the business is trough sensor analytics. The analysis of granular data will help you “find anomalies, commonalities and trends that reveal insights that otherwise would remain unnoticed”. You can use these insights to optimize operations and manage maintenance. The second way is to use pattern analysis to fortify your company against cyber attacks. Since all intrusion occurs in a sequential manner, pattern analytics allow you to catch any new ways of infiltrating your systems. Lastly, but perhaps most importantly, pattern analytics can help you grow sales. As the authors point out: “Pattern analytics on customer and sales data can therefore indicate market trends, customer interests, latent needs and reveal future sales trends. In addition, pattern analytics can show the top selling items based on geography and interest and news happening around the world.”
We will be interested to hear your stories about how pattern analytics improved your business.