Prevedere Launches Predictive AI Monitoring to Future Proof Business Performance
- Prevedere’s AI Technology Predicts and Monitors Future Target Market Outcomes, Providing an Early Warning System for Business Leaders
Prevedere announced the launch of ERIN Protect, the latest addition to its predictive AI platform and suite of products. ERIN is Prevedere’s global data repository and patented machine learning platform that enables the creation, testing and publishing of econometrics based predictive models and insight.
Organizations leverage Prevedere’s technology to identify economic drivers, build predictive models and create business and target market forecasts. By incorporating external signals and insights into their strategic plans and forecasts, Prevedere’s customers are better positioned to compete in an increasingly volatile and ever-changing world.
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ERIN Protect is the latest capability of the cloud-based ERIN platform, extending Prevedere’s ability to proactively identify how changing external events will impact a company’s strategic plans and forecasts. ERIN now enables and supports the entire predictive AI lifecycle. ERIN Discover identifies the leading drivers and indicators for a specific business or market. ERIN Predict systematically creates, simulates and refines thousands of predictive models, based on those indicators. ERIN Scenario optionally creates ‘optimistic’ and ‘pessimistic’ predictive scenarios in addition to the ERIN Protect’s baseline forecast.
ERIN Protect is an AI based monitoring and alerting system, analyzing model prediction based on real-time internal and external data feeds, identifying anomalies in future performance.
ERIN Protect:
- incorporates the latest advanced analytics related to predictive AI model health, scoring and monitoring
- leverages control chart algorithms and statistical process monitoring to create what is essentially an ‘EKG’ for predictive model health
- alerts business owners when future predictions shift out of limits, enabling timely refinement of business plans and strategies
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Rich Wagner, CEO of Prevedere stated: “In these uncertain times, businesses can now create forecasts and plans that incorporate projected market volatility. By monitoring predictive models that are based on their external market drivers, organizations can proactively maintain plans and strategies to optimize future performance and deliver competitive advantage.”
Rob Kugel, SVP and analyst at Ventana Research added: “AI technologies now exist that can continuously monitor predictive model quality and provide alerts when future market conditions are shifting. This ultimately enables FP&A groups to future-proof their business by proactively adjusting forecasts and budgets based on automated market monitoring.”
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