By through understanding of the client’s organisation Prod Tech are able to recommend, specify and write algorithms to automate and support business processes.
Intelligent computing provided by Productive Technology can be categorised as Static Algorithms or Interactive Decision Making.
The most common use is pricing. Pricing can be a static algorithm which considers all parameters and calculates a price, or an interactive system. In an interactive system the price dynamically updates on the screen as the user enters an order and changes options. It can be applied to customer facing web sites and office based order entry. Interactive systems are particularly popular where discretionary discounts are given, as the sales operator can be given margin information and have discount limits enforced.
Product selection is another popular use for algorithms. This can be fully automated where a product is recommended based on information a customer enters into a website or can be more interactive for office sales staff. This sort of algorithm can include calculation of financial benefit to the customer to support the sales process. We have written system that compare of one product with another and those that compare purchasing a new product against the customer continuing with their existing facility.
Other algorithms written include sales forecasting for stock control, CRM activity (e.g. when to send sales communications or renewal reminders), risk evaluation, loss adjusting.
Benefits of a well specified algorithm
- Improved service
- Competitive marketing features (USPs)
- Reduced costs
- Improved accuracy
- Reduced stock levels
A well written algorithm will be enable new features to be added economically and safely as the organisation evolves ensuring long life for the application and high returns on the original investment.
Intelligent Algorithms together with
Configurable Questions are a powerful combination.