Unveiling the Power of Advanced AI Solutions

By Team Acumentica

Introduction:

Artificial Intelligence (AI) has revolutionized the way businesses make decisions and optimize their processes. In recent years, two prominent branches of AI have emerged: predictive AI and prescriptive AI. While both have their merits, this article aims to shed light on why advanced AI, with its prescriptive capabilities, can be a game-changer compared to generative AI.

  1. Understanding Predictive AI:

Predictive AI, also known as generative AI, focuses on forecasting future outcomes based on historical data and patterns. It excels at making predictions, such as stock prices, customer behavior, or equipment failures, by analyzing vast datasets and identifying trends. Predictive AI provides valuable insights into what might happen, helping organizations make informed decisions.

  1. The Limitations of Predictive AI:

Despite its benefits, predictive AI has limitations. It stops at providing predictions and doesn’t offer guidance on what actions to take next. For instance, if a predictive AI model forecasts a potential drop in product demand, it won’t suggest strategies for mitigating the impact. This limitation leaves businesses with the responsibility of interpreting predictions and devising their own solutions.

II. The Rise of Prescriptive AI:

Prescriptive AI goes a step further. It not only predicts outcomes but also prescribes actionable solutions to achieve desired results. By factoring in various constraints, objectives, and real-time data, prescriptive AI recommends optimal courses of action. This can range from supply chain optimization and resource allocation to healthcare treatment plans and financial investment strategies.

  1. Real-World Applications of Prescriptive AI:

Prescriptive AI finds applications in numerous industries. In healthcare, it assists doctors in tailoring treatment plans for patients based on their unique medical histories and current conditions. In logistics, it optimizes routes for delivery trucks, reducing fuel costs and delivery times. In finance, it suggests investment portfolios that maximize returns while managing risk.

  1. The Power of Informed Decision-Making:

One of the key advantages of prescriptive AI is its ability to empower users with actionable insights. Instead of leaving decision-makers to navigate a sea of data, prescriptive AI guides them towards optimal choices. This not only saves time but also enhances the quality of decisions.

  1. Combining Predictive and Prescriptive AI:

While prescriptive AI offers a holistic approach to decision-making, it doesn’t render predictive AI obsolete. In fact, the synergy between the two can be formidable. Predictive AI can feed data into prescriptive models, helping them make more accurate recommendations. The combination of prediction and prescription creates a powerful tool for businesses.

VII. Conclusion:

In the realm of AI, predictive AI has paved the way for data-driven insights, but it has its limitations. Advanced AI, with its prescriptive capabilities, takes decision-making to the next level by not only predicting outcomes but also offering actionable solutions. Businesses that embrace prescriptive AI gain a competitive edge, making informed decisions that drive success in an increasingly complex world. As technology continues to advance, the adoption of prescriptive AI is poised to become a transformative force across industries.

Acumentica AI Growth Solutions and Services

At Acumentica our AI Growth systems are built around  increase sales, ROI while lowering costs.

  • Collect: Simplifying data collection and accessibility.
  • Organize: Creating a business-ready analytics foundation.
  • Analyze: Building scalable and trustworthy AI-driven systems.
  • Infuse: Integrating and optimizing systems across an entire business framework.
  • Modernize: Bringing your AI applications and systems to the cloud.

Acumentica provides enterprises AI solutions they need to transform their business systems while significantly lowering costs.

For more information on how Acumentica can help you complete your AI journey, Contact Us or  explore Acumentica AI Growth Systems.

 

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The Adaptation of GARCH Models in Investment Strategies: Implications and Applications

By Team Acumentica

 

Abstract

 

Generalized Autoregressive Conditional Heteroskedasticity (GARCH) models represent a significant advancement in the analysis of financial time series data, particularly in the context of volatile markets. This paper explores the adaptation of GARCH models in investing, detailing their theoretical foundations, applications, and implications for both risk management and trading strategies. Through the integration of GARCH models, investors and financial analysts can better understand and forecast market volatility, enhancing the accuracy of their investment decisions.

 

Introduction

 

Volatility is a core component of financial markets, influencing asset pricing, risk assessment, and investment strategy formulation. Traditional models often fail to capture the dynamic nature of market volatility, leading to suboptimal investment decisions. GARCH models, introduced by Robert Engle and Tim Bollerslev in the 1980s and 1990s, respectively, provide a robust framework for modeling time-varying volatility, making them invaluable in the modern financial analyst’s toolkit. This paper examines how GARCH models have been adapted for use in investment strategies, their benefits, and the challenges associated with their implementation.

 

GARCH Models: Theoretical Background

 

Definition and Structure of GARCH Models

 

GARCH models belong to a class of statistical models known as autoregressive conditional heteroskedastic (ARCH) models, which explicitly manage varying levels of variance over time. The basic form of a GARCH model, specifically the GARCH(1,1) model, can be defined as follows:

 

\[ \sigma_t^2 = \omega + \alpha \epsilon_{t-1}^2 + \beta \sigma_{t-1}^2 \]

 

Where:

– \( \sigma_t^2 \) is the conditional variance (forecasted volatility).

– \( \epsilon_{t-1} \) is the lagged error term.

– \( \omega, \alpha, \) and \( \beta \) are parameters estimated from data.

– \( \omega \) is a constant term.

– \( \alpha \) measures the response of volatility to recent squared shocks.

– \( \beta \) represents the persistence of volatility.

 

Mathematical Foundations and Estimation Techniques

 

Estimating GARCH models involves maximizing the likelihood function of the returns of a financial asset, conditional on past returns and past conditional variances. The estimation process typically utilizes numerical optimization techniques such as the Maximum Likelihood Estimation (MLE).

 

Applications in Investing

 

Risk Management

 

GARCH models are particularly useful in quantifying the risk associated with financial assets. By providing a dynamic measure of volatility, these models allow risk managers to adjust their strategies according to predicted risk levels, optimizing asset allocation and hedging strategies accordingly.

 

Portfolio Optimization

 

Investors utilize GARCH models to forecast future volatility and correlations between assets, enhancing the Markowitz portfolio optimization framework. This integration allows for more accurate determination of the efficient frontier, aiding in the selection of an optimal asset mix that minimizes risk for a given level of expected return.

 

Derivative Pricing

 

GARCH models are also employed in the pricing of derivatives, where accurate volatility forecasts are crucial. Options pricing, for instance, heavily relies on volatility as a key input in models like the Black-Scholes formula. GARCH-derived forecasts of future volatility can significantly enhance the accuracy of such pricing models.

 

Case Studies

 

Equity Markets

 

A case study involving the use of GARCH models in predicting equity market volatility demonstrates significant improvements in the accuracy of risk forecasts and the performance of volatility trading strategies.

 

Foreign Exchange Markets

 

Application of GARCH models in foreign exchange markets helps in capturing the dynamics of forex volatility, assisting in more precise hedging and trading strategies.

 

Challenges and Limitations

 

Model Complexity and Computation

 

GARCH models are computationally intensive, requiring sophisticated software and hardware, as well as considerable expertise in econometrics.

 

Model Assumptions and Stability

 

The performance of GARCH models depends heavily on the stability of market conditions and the validity of model assumptions, which may not hold during financial crises or atypical market events.

 

Overfitting and Predictive Accuracy

 

Like many statistical models, GARCH models are susceptible to overfitting, particularly when applied to complex or unstable financial data. This can lead to misleading forecasts and suboptimal investment decisions.

 

Conclusion

 

GARCH models have profoundly impacted the field of financial econometrics, offering sophisticated tools for modeling and predicting volatility. Their integration into investment strategies has enabled more refined risk assessment, portfolio optimization, and derivative pricing. However, investors must be aware of the limitations and challenges associated with these models to fully leverage their benefits. Future research should focus on enhancing the robustness and computational efficiency of GARCH models, as well as exploring their integration with other forecasting techniques in a multi-model approach.

 

References

 

  1. Bollerslev, Tim. “Generalized Autoregressive Conditional Heteroskedasticity.” Journal of Econometrics, 1986.
  2. Engle, Robert F. “Autoregressive Conditional Heteroskedasticity with Estimates of the Variance of United Kingdom Inflation.” Econometrica, 1982.
  3. Brooks, Chris. “Introductory Econometrics for Finance.” Cambridge University Press, Latest Edition.
  4. Hull, John C. “Options, Futures, and Other Derivatives.” Pearson Education Limited, Latest Edition.
  5. Markowitz, Harry. “Portfolio Selection.” The Journal of Finance, 1952.

Acumentica has built its pursuit of Artificial General Intelligence (AGI) in finance on the back of years of intensive study into the field of AI investing. Even if AGI Investing is still a long way off, what we’ve accomplished so far is very remarkable. We show our unique ecosystem of sophisticated deep-learning models tuned for outstanding forecasting accuracy, the sophisticated AI Stock Predicting System. You may optimize your investing plans with the help of this cutting-edge system’s unrivaled market visibility and in-depth analytic capabilities as it thoroughly analyzes each stock.

Elevate your investment by registering. To delve deeper into how our technology can revolutionize your financial strategy, contact us. Experience the future of confidence investing today.

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Grow Your Online Presence Through Map Optimization

Map optimization is an integral stratum of digital marketing that businesses often overlook. It correlates to the process of improving a business’s visibility on maps and navigation systems, such as Google Maps and Waze to name a few. This is imperative because, in today’s digital age, more and more consumers are using online maps to find businesses and services in their local area. As such, having a strong online presence on maps is crucial for any business looking to attract new customers and increase its visibility. This article annotates the need, value, and benefits of map optimization.

Why Map Optimization?

To commence with, map optimization can help businesses increase their visibility on online maps and navigation systems. By creating and optimizing a Google My Business listing, businesses can make sure that their information is accurate, up-to-date, and easily accessible to potential customers. This includes important details such as business hours, contact information, and customer reviews. By having this information readily available, businesses can make it easier for customers to find them and increase their chances of being selected over their competitors.

In perpetuity, map optimization can also enhance the customer experience by making it easier for them to find businesses and services in their local area. This is a very important strategy that the big search techs are pushing towards as they want to recommend local business first. In addition, they want their flagship maps system to be in the forefront of peoples search. Its used now more than ever before.

This is because online maps and navigation systems allow customers to search for businesses based on location, category, or keyword, making it easier for them to find what they are looking for. Furthermore, by providing customers with more accurate up-to-date information about a business, map optimization can improve customer engagement and increase the chances of customers choosing that business over others. This results in increase sales and a ROI. It is important to note that there are best practices for optimizing your Google My Business listing for search. This includes providing complete and accurate information, using keywords in your listing, and encouraging customers to leave reviews. By following these best practices, businesses can improve their search visibility and increase their chances of being found by potential customers.

There are a plethora of real-world examples of businesses that have immense success contributing to increase foot traffic and sales with smart map optimization. For example, local restaurants and cafes can enhance their online search visibility by creating a Google My Business listing and optimizing it for search. They can also use their listing to provide customers with up-to-date information about menu items, business hours, and special promotions. Similarly, construction and manufacturing companies are using smart map optimization to increase their visibility in local search results, making it easier for potential customers to find them.

In conclusion, businesses should prioritize smart map optimization as it is a cost-effective and efficient way to increase visibility, improve customer experience, and boost local search visibility. By optimizing their presence on online maps and navigation systems, businesses can increase their chances of being found by potential customers and stand out from their competitors.  We recommend all businesses to first understand where they are on the search engines richter scale. This enables a business to understand their current state before making changes and monitoring them.

Contact us to learn more about how our transformative digital marketing services we can help you optimize your map listings and improve your digital marketing efforts.

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Value and Benefits Of AI CXO Services

What are AI CXO Services?

AI CXO (Chief Experience Officer) Services refers to a type of business service that utilizes artificial intelligence (AI) and other advanced technologies to help companies improve the customer experience (CX). The role of an AI CXO is to use the data that the company collects from its customers and analyze it using AI algorithms to understand customer behavior and preferences, and then use that knowledge to make improvements to the company’s products, services, and overall customer experience. This can include things like personalizing marketing campaigns, automating customer service, and improving website design and navigation, among other things. The goal of AI CXO services is to help companies create a more seamless and personalized experience for their customers, which can lead to increased customer satisfaction and loyalty.

Value Of CXO Services

The value of CXO services, particularly in the realm of artificial intelligence (AI), cannot be understated in today’s business landscape. As competition increases and customer expectations evolve, companies are turning to CXO services to gain a competitive edge and improve the overall customer experience (CX).

One of the key areas where CXO services provide value is in customer data analysis. AI-powered systems can analyze large data sets, such as customer interactions, purchase history, and demographic information, to gain insight into customer behavior and preferences. This knowledge can then be used to personalize marketing campaigns, improve website design, and optimize the overall customer experience.

Another area where CXO services add value is in automating customer service. AI-powered chatbots, for example, can handle routine customer inquiries, freeing up human customer service representatives to focus on more complex issues. This can lead to faster response times and increased customer satisfaction.

CXO services can also help companies improve their overall efficiency and cost savings. For example, an AI-powered system can analyze resumes and job applications in the recruitment process, and an AI-powered system can track and analyze employee behavior, such as email, chat, and calendar data, to identify patterns and trends in employee engagement and performance management.

The benefits of CXO services extend beyond just improving customer experience and can also help businesses grow. By providing companies with valuable insights, automating repetitive processes and making informed and unbiased decisions, CXO services can help companies to increase revenue, reduce costs, and improve overall organizational efficiency.

In summary, CXO services, specifically AI-powered solutions, can provide businesses with valuable insights, automate repetitive processes and improve overall efficiency, cost savings, and customer experience. As competition increases and customer expectations evolve, companies that invest in CXO services are better positioned to gain a competitive edge and grow their business.

Some of the different types of CXO Services

AI CMO (Chief Marketing Officer)

AI CMO (Chief Marketing Officer) refers to the use of artificial intelligence (AI) and other advanced technologies to assist or automate marketing strategies, processes and analysis. An AI CMO leverages data, Machine learning and other AI techniques to optimize customer engagement and acquisition, personalize communication and predict customer behavior, also can help to automate marketing tasks such as data analysis, audience segmentation, ad targeting, and content creation. The ultimate goal is to improve the efficiency and effectiveness of marketing efforts, drive better customer engagement and ultimately increase revenue.

It also may also include using AI-powered chatbots, automated customer service and personalization of emails and ads. These AI-based systems can analyze large data sets to gain insight into customer behavior, preferences and purchasing patterns, and can help identify new opportunities for revenue growth.

AI CHRO (Chief Human Resources Officer)

AI CHRO (Chief Human Resources Officer) refers to the use of artificial intelligence (AI) and other advanced technologies to assist or automate human resources processes and decision-making. AI CHRO can help organizations with tasks such as recruitment, employee engagement, performance management, and talent development.

One of the key areas that AI CHRO can improve is in recruitment. AI-powered systems can analyze resumes and job applications and match them to the most relevant job openings. They can also conduct initial candidate screening, such as language and cognitive tests, to ensure that only the most qualified candidates are interviewed.

In terms of employee engagement and performance management, AI-based systems can be used to track and analyze employee behavior, such as email, chat, and calendar data, to identify patterns and trends. This can help managers identify employees who are at risk of disengaging and take steps to address the issues.

AI CHRO can also be used to analyze and predict the performance of employees, using data and machine learning models. This can help managers identify high-performing employees who are ready for promotion and those who may be at risk of leaving the company.

The goal of AI CHRO is to provide organizations with valuable insights, automate repetitive processes and make informed and unbiased decisions to improve employee retention and performance, also can improve overall organizational efficiency and cost savings.

To learn more on how Acumentica AI CXO  Services can help grow your business contact us.

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Manufacturing Business Growth Strategy

By Team Acumentica

Manufacturing businesses today are facing a plethora of constraints locally and globally, and a business needs to adapt and be resilient to the various focuses affecting them. From supply and demand, logistics, pricing, to various micro and  macro-economic indicators  impacting them, businesses needs to develop and execute an agile strategy.

This article describes outlines how a manufacturing company needs to look at developing a value-driven strategy.

Strategy involves gaining continuous insights on the external market, creating innovative alternatives, developing a business design and ensuring the executability of that design by orchestrating and developing the organization’s capabilities. It is not principally about creating a document or following a planning calendar, although both play a role.

What is a good Manufacturing strategy? How can I ensure my strategy delivers business results? 

A manufacturing strategy has never been more important. A good MFG strategy targets high value customers, ensures your offerings are distinctive, positions you for strategic control and secures future profits. Weak strategies fail to take stock of the changing landscape and rely on tired or unproven business designs that typically result in poor market performance. A good MFG strategy looks carefully at the organization’s capabilities and ensures that critical tasks are assigned and appropriate measurements in place. This strategy should ensure that critical skills are in place and that the organization’s culture supports outstanding performance on the critical work of the business. Weak strategies ignore organizational capabilities and blame resulting shortfalls on execution.

How good is your business strategy today? Do you want to get better? 

A manufacturing strategy is not about a document. Strategy is about action. Whether good or bad, strategy shows itself in the everyday actions of the business. It is reflected in the quality of the dialogs we hold, the decisions we make and the actions we take. A structured assessment of those activities can tell us how good we are at strategy, and how we can get better. Developing effective strategy involves a range of skills that can be developed and practiced.

Manufacturing organizations are a complex entity.  All the parts and their connections need to work well together. Superficial diagnoses of organization issues are the enemy of senior management. They can lead to a loss of credibility and sap valuable energy from employees. We take care and avoid the temptation to go for the silver bullet. We emphasize the attunement of cultures that enables people to be committed entrepreneurs for their company with processes that provide discipline and measure results.

Developing and executing a winning manufacturing corporate strategy isn’t easy even in the best of times. As aforementioned above, there are so many factors of uncertainty like business, global, economic and political to name a few that challenges companies today.

To succeed in today’s climate,  a manufacturing company must:

  • Understand and leverage the intersection of people, process and systems  with customer requirements and business design to drive measurable results
  • Identify and focus on your most profitable customer segments to understand and meet their needs
  • Better leverage technology to increase your return on business investments
  • Align the business and Supply Chain organizations via shared metrics and ownership
  • Become an adaptive organization with the flexibility to adjust to market changes and seize new opportunities.
  • Cultivate and reward executional expertise to achieve competitive advantage in the near and long-term

Strategy cannot be predetermined despite a companies true intentions. True strategy helps  transform an enterprise and operations by:

  • Framing industry opportunities and challenges into specific strategic options
  • Formulating actionable strategies that intersect business, process and technology; and
  • Accelerating implementation through tailored operations and change programs.

Your needs may fall into one or more categories below.

  • Streamlining Costs: Determining how to cut costs that have built up over the past 10 years of economic growth to improve financial performance and fund new initiatives.
  • Timing of Investments: When to move forward in this climate determining the rate and timing of investments.
  • Enhancing Productivity: Maximizing returns on past and future investments in technology, processes, and people.
  • Growing Revenues: Determining how to grow the business in a stagnant and uncertain economy and in a marketplace where “customers pick you.”
  • Investing for Future: Building flexible organizations and capabilities that can compete successfully in a future that requires us to constantly adapt.
  • Linking Strategy to Execution: Determining how to ensure that strategies can be implemented, and that implementations achieve what the set out to accomplish.

In summary, strategy is not about a document but actions that requires the right skills to execute in order to yield optimal results.

At Acumentica, we are dedicated to pioneering advancements in Artificial General Intelligence (AGI) specifically tailored for growth-focused solutions across diverse business landscapes. Harness the full potential of our bespoke AI Growth Solutions to propel your business into new realms of success and market dominance.

Elevate Your Customer Growth with Our AI Customer Growth System: Unleash the power of Advanced AI to deeply understand your customers’ behaviors, preferences, and needs. Our AI Customer Growth System utilizes sophisticated machine learning algorithms to analyze vast datasets, providing you with actionable insights that drive customer acquisition and retention.

Revolutionize Your Marketing Efforts with Our AI Marketing Growth System: This cutting-edge system integrates advanced predictive analytics and natural language processing to optimize your marketing campaigns. Experience unprecedented ROI through hyper-personalized content and precisely targeted strategies that resonate with your audience.

Transform Your Digital Presence with Our AI Digital Growth System: Leverage the capabilities of AI to enhance your digital footprint. Our AI Digital Growth System employs deep learning to optimize your website and digital platforms, ensuring they are not only user-friendly but also maximally effective in converting visitors to loyal customers.

Integrate Seamlessly with Our AI Data Integration System: In today’s data-driven world, our AI Data Integration System stands as a cornerstone for success. It seamlessly consolidates diverse data sources, providing a unified view that facilitates informed decision-making and strategic planning.

Each of these systems is built on the foundation of advanced AI technologies, designed to navigate the complexities of modern business environments with data-driven confidence and strategic acumen. Experience the future of business growth and innovation today. We are here to help and partner with you to solve your business challenges and achieve GROWTH. Contact Us.

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Transform Your Website Into A Sales Generating System

Your website should viewed as one be one of your distinct sales tools or system within your company.  This is where every explorer, lead and customer visits to learn about your business and its offerings. It’s indicative of your brand. It’s a place they go to make informed purchasing decisions. Rightfully so, it’s an area that requires focused attention that doesn’t get equal weight compared to other sales driven tools.

Your website requires to be built the right way and we often see businesses fall short of this. Your website should NOT only be a great looking and aesthetically pleasing site- though this is very important. It’s about it being one of your sales generating tools to attract the right foot traffic, and convert those leads into customers to grow sales.

If you are not looking at your website as a sales generating system and if it’s not making your business money, then you are missing on potential opportunities that drives sales growth.

So, what must a business do to achieve this.  We have recommended a framework of actionable steps, that if executed in a systematic function, will help transform your website into a sales generating system.

  1. Website Assessment

If you have a website already, conduct an website assessment to first understand your current state and where you are on a web rating scale. Understand the health of your website in real-time and fix the website issues based on the recommendations provided. It’s pointless to make changes when you don’t understand the issues first.

  1. Develop Website Strategic Roadmap

Once you have to have gotten the above results, develop a strategic Website roadmap on what you are going to enhance on your website that increases value. All changes made should be measured and tracked at all times.

  1. Company Positioning

We are assuming your company’s ‘Positioning’ is good which is indicative of your positive marketing and sales results. If this is not the case, then focus must be given to reassessing your position. Once this is done, you can embed the right curated content in your website.

Since your website is your sales tool, your users must understand what you do and why you are different. They must understand the qualitative and quantitative value you bring.  If this is clear, this will translate into more sales. Your site should contain content that depicts your company’s unique attributes and capabilities compared to your competitors.

  1. Advanced UX Design

Equal importance must be given to the design of your website. It’s look and feel, and user responsiveness is very important. Make sure that your website is simple but appealing at the same time. Get input from family, friends, employee and peers. Remember it’s not what you think of your website but what what others think of it. This will be your litmus test.

  1. Optimal SEO

Search Engine Optimization is one of pertinent disciplines to increase website traffic. Make sure you have optimal dynamic search keywords (which is changing) to increase your page rank organically without paid ads. This will then result in increasing conversion rates and sales.

  1. Enriched Marketing Content

The other important aspect of increasing your online visibility is making sure you have the right marketing content that pulls the right searchers who want to purchase your products and services.

  1. Web Data Analysis

In all that you do always collect, process, and analyze your web data to get actionable insights and make smart data-driven decisions.

  1. Website Analytics

Keep track of website traffic and convert those leads into customers. Track and Monitor changes for continuous improvement.

In summary, it’s important to point out that this is not a one-time process. It takes time for your site to be recognized and recommended by the big tech search companies. However, it’s very important to develop and deploy a website the right way. This is a continuous  improvement and equal oversight must be given to your web presence like others operational functions in a business. Be different from your competitors, look at your website as your sales generating system, make the right investments, and measure your Return Of Investment (ROI).

Acumentica is here to help if you need to transform your website.  Contact Us or Learn more about how our AI Digital Growth System that can increase your business online visibility.

 

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What Is Artificial Intelligence?

Read more
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Increase Revenue By Leveraging AI Technologies: Part 1

You are a small brick and motor business. You are good at what you do. You know how to build things but trying to figure out ways to increase revenue on a shoe-string budget. Have you considered using AI tools to address your challenges? For many, it might seem that a company needed to a behemoth like Amazon or Google to leverage and harness the power of AI. In the past, that might have been true as deployment of such tools were costly to implement. However, with the advancements of technology today, AI can be used by all types of businesses no matter their size,  solve specific industry and functional discipline problems and what’s important, it is affordable. In this article, we will help you understand how using AI technologies can impact your sales numbers yielding higher revenue and profit margins.

Before diving into addressing how AI technologies can increase revenue, it’s important to define first what Revenue and AI is and how it applies to the health of a business. This will bring clarity within the context of this article.

In simple terms, revenue optimization is not only about improving earnings from your sales but the sum of your income. It’s taking actionable steps to increase your profits margins and the Return Of Investments (ROI). Artificial intelligence (AI) also called Machine Intelligence (MI) leverages computers and machines that aims to emulate the modality, problem-solving and decisions making capabilities like that of a human.

Now that we defined the two, we like to set the preface and breakdown how a business can deploy AI technologies to increase their revenue. This can we done through the use of AI in;

  1. Sales
  2. Marketing
  3. Digital Marketing

This article explains harnessing AI within the functional discipline of Sales.

AI Sales

Find Customers 

By using AI sales tools or agents, a business can find customers who are seeking to buy their products and services specific to their industry. In addition, it enables a business to gain in depth knowledge about each customer, their background, personas, and characteristics.

We are not talking about leads or Marketing Qualified Leads (MQL) though this inherently are one of attributes of what AI can also do as well.

360 Degree Customer View

A business may have information about their customers in their CRM or ERP systems. However, this information is static and can be myopic. Customers are not static but dynamic and a business needs to have real-time up to date information of their customers and user journey to make insightful data-driven decisions. Having a 360 view of your customers is imperative and a AI system can make this possible.

Predictive Customer Profitability

Based on a business transaction records, an AI system using RFM (Recency, Frequency and Monetary Value) score-based times series and other neural network based models can measure and predict a customer profitability. By doing so a business can segment and create target cohort email marketing campaigns with each customer based on the models inferences.

Predicting Customer Propensity

Customer propensity is understanding the behavior of a customer. It’s a model approach to predict the likelihood of explorers, visitors, leads, and customers are going to purchase a product or service. By doing so a business can only get customer acuity can but increase their Conversion Rate Optimization (CRO).

Prospecting Intelligence

Buy harnessing the power of AI, a B2B and B2C entity can find customers anywhere on the www with a high degree of efficacy. Imagine a system running 24/7 prospecting the web finding customers. That’s the power of AI which aids in maximizing sales and acquire your Total Addressable Market (TAM).

Recommendation Engine

After all the customer data is collected processed and analyzed, it can be arduous to then make the right decision that will yield an optimal result. An AI- powered self -learning engine does not only predicts but prescribes what you must do and focus on. It’s constantly learning and computing millions of data points in order to provide the best recommendation. This decision support system takes the guess out of the equation. It helps a business make smart sales driven decisions.

Increase sales productivity and efficiency

With the above features, attributes and capabilities of a AI sales system, a business will see their an increase in efficiency and productivity while lowering SG&A costs. This accounts for more savings amounting to higher profit margins.

In summary an AI sales  system or Customer Growth System can;

  • Significantly increase sales
  • Prioritize customer focus
  •  Understand and Influence customer behavior
  •  Gain 360-degree Customer intelligence
  •  Increase sales productivity and reduce Costs
  •  Increase ROI

Our goal help you understand how AI can help a business in many business facets. We encourage you to explore our site to learn more.

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The Critical Role Of Positioning In Marketing and Sales?

Introduction

Before diving into how Positioning impacts your marketing and sales, a business must understand what Positioning is. With over 21+ years of transforming businesses, “positioning” is one aspect that I see almost all companies need to reassess and focus on. Business owners, CEOs, and sales and marketing executives think their Positioning can be done without refocusing. However, a business should rethink its Positioning based on negative customer feedback, low-win bid rates, lost opportunities, and poor customer perception. Remember, it’s not what we think of our company, products, and services but what your ideal customers and prospects think.

What is Good Positioning?

Simply, a company’s product/service positioning is about providing customer-centric value that best-fits customers who love and want more.

Positioning impacts many aspects of a business. It affects how you market and sell products, directly affecting revenue and ROI. It determines how customers perceive a business. It affects what you build and what is offered to customers. It impacts marketing and sales costs. From an operations perspective, Positioning affects a business’s COGS (Cost Of Goods Sold) and SG&A (Selling, General And Administrative ) costs. Furthermore, good Positioning increases employee productivity from a people and culture perspective.

 When it’s mapped out, the value of Positioning impacts nearly every financial measure of a business, particularly profit margins. In short, good Positioning impacts the health of a company. Based on our research and experience, companies must take the time to reassess their Positioning if they are facing marketing and sales challenges.

How to implement Good Positioning?

A business can develop and implement good Positioning by;

  • Understanding clearly your best-fit customers’ personas and characteristics.
  • Know your unique attributes and capabilities.
  • Know the value and benefits of your product/services quantitatively and qualitatively.
  • Understand your Competitors.
  • Develop value-based context.

Utilizing positioning tools and techniques together with having discussions with the right team members in your company, a business can achieve good Positioning.

By executing the above strategically, a business will get continuous insights into the external market, create innovative alternatives, develop a business design and ensure the executability of that design by orchestrating and developing the organization’s capabilities. It is not principally about creating a positioning statement or document, although both play a role.

How can I ensure my Positioning Increases sales?

If a business’s Positioning is good, they will notice an increase in their prospecting rates, sales closure rates, and sales growth. Their Top-Line growth will increase. Furthermore, they will notice a reduction in their sales and marketing costs, that is if your your tracking them (which is very important to do). Moreover, pay close attention to the variances in a company’s profit margins with good Positioning. If executed right, monitoring and tracking their positioning change, they will increase the overall health of your company.

How good is your Positioning today? Do you want to get better? 

A structured positioning assessment will clearly help you understand where you currently are and what need you to better position your business.

There is an adage “The definition of insanity is doing the same thing repeatedly, expecting a different result”. If you are stuck or challenged, make the correct change. Wrong Positioning may be a blind spot and pain point that you might need to mitigate.

Do you think you have a positioning problem? Acumentica can help by:

  • Performing a Positioning assessment of your business through analysis and team-based interviews.
  • Utilizing our fact-based positioning tools, processes, and methodologies.
  • Executing the inferences from the assessment to reach a good positioning state.
  • Tracking and monitoring a company’s positioning strategy.

Contact Our CXO Executives

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Tips To Increase Your Online Conversion Rate organically

As a small business owner your working on a shoe-string budget. We get it. Over the 20+ years of experience working with GROWING  small businesses online visibility and sales, there has been a plethora of learned lessons. We want to outline for you what steps you need to take that is going to help increase your digital visibility, foot traffic, conversion rate, and sales organically without any paid ads. We recommend not waste your hard earned money on social media and search engine marketing until you have optimally executed the below. We have seen this time and time again how companies burn $Millions with little or ROI to show for it.

  • Conduct a Digital Assessment of your business – If you have not already done so, clearly understand the health of your website in real-time and fix your website issues based on the recommendations. Design your website that gives your targeted niche customers a better online experience from quote management, web chats, to purchasing seamlessly online. However, addressing the simple low hanging fruits will position your business better on various search engines radar screens.
  • Search Engine Optimization  – Use the right keywords that your targeted customers personas will query to increase page rank higher organically without ads.  Always track and monitor your SEO.
  • Map optimization –  Is your business on all Search Maps? If not, this is a missed opportunity. The big search tech companies strategy is to use it’s Maps system to recommend businesses to customers or consumers. The goal is for your business to Rank higher organically without any paid ads.
  • Enriched marketing content –  Provide quality content your target market niche. Yes the marketing content you compile is very important. Big tech companies use business content as a benchmark to make the right business recommendations. If they see your business as an expert in your field, they will recommend your business.
  • Google Business Page  –  Google business page is another linchpin system from Google that is imperative to have.  A business that meets a search engines criteria gets a higher authoritative token. This then translates to recommending a business to a customer.
  • Website analytics – Understand who is coming to your website and their user journey in real-time. If you know what they searching for on your website, you can then connect with them. This is a sales generating opportunity.
  • Analyze Your Digital Data –  Track and monitor the digital progress your business is making. Your data tells you a story about your digital performance.  Getting insights into your web data and making improvements will accelerate your page rank.

We want to point our that this is a continuous improvement always making the right changes to be ranked higher. The goal is to increase your page rank without any paid ads. This will in turn, lower your marketing and sales costs and increase your foot traffic and revenue. We are here to help. Contact Us should you have any questions. If you don’t have the resources and bandwidth, Acumentica’s Artificial Intelligence Digital Growth System and expert team can increase your online growth.

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Increase A Business Online Visibility And Sales

How to increase a business online visibility and sales?

By Team Acumentica

As a small business owner your working on a shoe-string budget. We get it. Over the 20  years of experience working with GROWING  small businesses online visibility and sales, there has been a plethora of learned lessons. We want to outline for you what steps you need to take that is going to you help increase your digital visibility, foot traffic, conversion rate, and sales without any paid ads.

We  want to set and precedent and recommend do not to waste your hard earned money on social media and search engine marketing until you have optimally executed the below. We have seen time and time again how companies burn $Millions with little or ROI to show for it.

So let’s get to it. Below are the steps a company needs to take:

  • Conduct a Digital Assessment of your business – Understand the health of your website in real-time and fix your website issues based on the recommendations. Design your website that gives your targeted niche customers a better online experience from quote management, web chats, to purchasing seamlessly online. However, addressing the simple low hanging fruits will position your business better on various search engines radar screens.
  • Search Engine Optimization – Use the right keywords that your targeted customers personas will query to increase page rank higher organically without ads.  Always track and monitor your SEO.
  • Map optimization – Is your business on all Search Engine Maps? If not, this is a missed opportunity. The big search tech companies strategy is to use it’s Maps system to recommend businesses to customers or consumers. The goal is for your business to rank higher organically without any paid ads.
  • Enriched marketing content –  Provide quality content your target market niche. Yes, the marketing content you compile  is very important. Big tech companies use business content as a benchmark to make the right business recommendations. If they see your business as an expert in your field, they will recommend your business.
  • Google Business Page  –  Google business page is another linchpin system from Google that is imperative to have.  A business that meets a search engines criteria gets a higher authoritative token. This then translates to recommending a business to a customer.
  • Website analytics – Understand who is coming to your website and their user journey in real-time. If you know what they searching for on your website, you can then connect with them through a personal email campaign. This is a sales generating opportunity.
  • Analyze Your Digital Data –  Track and monitor the digital progress your business is making. Your data tells you a story about your digital performance.  Getting insights into your web data and making improvements will accelerate your page rank.

We like to point out that above is a continuous improvement always making the right changes to be ranked higher. The goal is to increase your page rank without any paid ads. This will in turn lower your marketing and sales costs and increase your foot traffic and revenue.

We are here to listen and help.  Contact Us should you have any questions. And if you don’t have the resources and bandwidth, Acumentica’s  Artificial Intelligence Digital Growth System and expert team can increase your online growth for you.

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What is Prescriptive Marketing?

What is Prescriptive Marketing?

Before we touch base on the meaning of prescriptive marketing, it’s paramount to first understand the different maturity stratum of marketing analytics. They are;

Descriptive Marketing –  In our point of view, this is the first level of marketing. It’s called the Data Collection phase. It has to do with Big Data. This is where data is collected and data mined from heterogeneous data ecosystems to gain insights into a customer, competitor or market. Organizations today have to pay close attention to this level of analytics because it ‘s the precursor to moving to next level. Emphasis should on validating and maturing your program logic to obtain a 360-degree view of your customer, competitor, market, and business data. The risk of not having good data will promote outliers and skewed data resulting inaccurate analysis.

Predictive Marketing – In this phase, the insightful information collected gets fed into built-in statistical techniques and algorithms to predict probable future outcomes of a customer based on their personas. Understanding data relationships aids in being able to segment a customer based on certain characteristics relationships. The data maturity roadmap should always be to move to a state to have deep personalized customer understanding. Sentiment analysis is a common type of predictive analytics. That is the input to a model in plain information whereas the output to the model is a weighted score that is positive or negative or a numeral variance between +1 or -1. In this case, the model computes and is predicting the data that we don’t have which is a sentiment label.

Prescriptive Marketing – This is the last stage of the maturity model of marketing analytics. In a nutshell, prescriptive marketing is a new way of thinking about customer-concentric relations utilizing the technologies of big data and machine learning which when coalesced is called Prescriptive Marketing. Applying Prescriptive analytics is going to big game changer to organizations today because it positively impacts customer experience at every customer value-life-cycle touch points; directly boosting customers loyalties and revenues.
We believe that Prescriptive Marketing is at its infancy stage and there is allot of untapped potential to discovering and learning more about building a personalized relationship with one’s customers.

 

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