Big data specialist ISD Analytics has been awarded a 2013 National iAward for its cloud-based predictive analytics tool Simulait Online. ISD Analytics will now compete on the international stage with other businesses in the Asia Pacific region at the Asia Pacific ICT Alliance (APICTA) awards in Hong Kong in November, 2013. These awards provide an entry point to the international Asian market. Past winners have gone on to international business success, secured funding, formed new partnerships and realized significant business growth as a result of their expanded horizons.
ISD won the National iAward (merit) in the Consumer category for Simulait Online, a real life "SimCity" application which can accurately predict human behavior of individual consumers or a complete population. Simulait Online models real people in real situations with varying demographic profiles, habits, preferences and demand profiles for different products and services, and different behavioral responses to external influences such as marketing and new products.
ISD's Director Dr Don Perugini said "Businesses typically use statistical approaches that predict future consumer behavior by projecting observations of past behavior. However today's consumer is more complex and dynamic, with social media, greater product choice and competition. Statistical approaches are not working as well as they did ten years ago as past behavior is no longer a good predictor of future behavior."
Simulait Online uses rules and logic to represent what consumer decisions lead to past behavior, and thus provides greater predictability of future behavior when new disruptive events or consumer changes occur. But more importantly, representing motivating drivers of consumer behavior allows businesses to test strategies that can influence those behaviors.
Types of business problems that Simulait Online can support include marketing, promotion, or pricing strategies to sell more products, or to better predict how well a new product will sell. The unique tool can be accessed by users on-demand through a web browser empowering them to run large scale simulations and test different strategies very simply using limitless computing power in the cloud.
Dr Perugini said: "Businesses now have large amounts of data about individual customers. Simulait Online provides a unique platform to build accurate and realistic models of individual customers or whole populations, and importantly, allows different strategies to be tested to influence consumer behavior".
ISD has applied Simulait Online to accurately model consumers in a range of industries including water, energy, emergency response, transport, and retail. Simulait Online is currently being used in Australia, USA and Europe, and competing in the APICTA awards will help accelerate entry into the Asian market.
For more details, call Dr. Don Perugini at ISD on +61 (0)8 7200 3727 email [email protected], or view the website at www.isdanalytics.com
Predict and influence how people actually behave
ISD's Simulait allows you to better predict and influence human behavior at any level from individuals to complete populations, in order to assist with business strategy and Government policy... it's like a real-life SimCity application!
Simulait has been applied to a range of industries globally including water, energy, retail, transport, emergency response, Government policy, and organizational analysis, where it has achieved greater than 90% accuracy in predictions.
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