It is rightly said that it takes an orchestra to play a symphony. Similarly, it takes a network of partners to ensure solutions and services are delivered to customers successfully. This network can be a collaboration of channel partners, franchisees, suppliers or even a collection of retail shops. Next-gen technologies, such as artificial intelligence and machine learning, empower organizations to achieve significant advantage over traditional approaches in the selection, evaluation and ongoing management of partners.
Currently, decision makers struggle with limited information while onboarding partners or setting up a new store. Regular performance evaluation of these partners is based on a narrow set of factors and very little is done in terms of understanding the various factors affecting their overall performance.
Optimizing the network in an organization comprises of setting up the right structure, measuring the right metrics and taking a data-driven approach to continuously evaluate the network. This involves finding answers to some key questions.
Vida, an advanced data analytics based solution by Prescience, leverages machine learning and artificial intelligence to understand the key factors that influence the performance of channel partners. The solution proactively identifies and ranks channel partners based on their performances and potential, allowing the client to intervene and take remedial actions quickly.
We begin by understanding the business context and data and move towards subsequent steps that involve identifying gaps, customizing the solution based on organization’s specific need and context, prepare the draft recommendations and review with business, make changes to the solution, build integration components (data pipeline, APIs and custom dashboards) with business processes and IT systems and final AI solution deployment in the organization’s IT environment .
Vida helps you move from the traditional way of doing things to an AI and data-driven process that helps you analyze every piece of data and information that you and your partners generate across the retail value chain.