The SAP.iO Foundry Tel Aviv’s Pecan Gives Data Science Superpowers to Any Business
Pecan’s AI-based predictive analytics platform transforms raw data into accurate predictions in a matter of days.
For companies to survive, having the ability to make data-driven decisions is a non-negotiable. However, as companies accumulate exponentially more data, taking advantage of all this data becomes more complex. More data allows for more advanced, more actionable insights — but companies often face a shortage of data scientists to build data models and decipher them.
Pecan is an AI-based predictive analytics platform that generates actionable, accurate predictions on company data in the shortest time possible, and is built around solution templates like customer churn and lifetime value. So far, Pecan has delivered over 11,024,601,821 predictions to their customers.
Listen to Your Data
Pecan’s platform is built around use cases that reflect business objectives. Some of the most common predictions that Pecan can make relate to price optimization, customer collection, supply chain optimization, procurement optimization, churn prediction, customer activity volume, and customer worth over time. With accurate predictions, companies know exactly what actions to take to increase revenues, improve retention rates, and or realize whatever the business objective at-hand is. For example, by having the ability to see the users and cohorts who will likely churn, companies can anticipate and prevent customer churn before they actually leave, and overall, know with accuracy what will happen to their customers.
No Data Scientist Needed
With no data preparation, engineering, or preprocessing, Pecan connects directly to various data sources, unifies and standardizes the data, and allows for quick and automated deployment of predictive models. Using machine learning and neural networks, Pecan automates the entire predictive process to decipher patterns in the data and prioritize relevant insights. The solution is the perfect tool for a passionate business analyst who knows the data, but doesn’t necessarily have the data scientist background. With Pecan, analysts can build and develop predictive models at scale in industries such as CPG, retail, e-commerce, and gaming.
Accurate Predictions → Swift Actions
Pecan’s impact speaks for itself. One of Pecan’s customers, a large CPG company with billions in revenue, was losing customers, and saw a 23% increase in retention by creating customer-specific predictions that informed what personalized actions to take. Based on a predictive model that the Pecan platform built in just six days, they were able to act swiftly. Another Pecan customer, an online retailer with over $1 billion in revenue, saw cross-sales jump by 40% by predicting which customer would respond best to which offer.
Innovating with SAP and The SAP.iO Foundry Tel Aviv
SAP’s Consumer Products 2020 report highlights how companies that thrive are those that have the ability to sense and respond to market dynamics and consumer demand quickly and accurately. Pecan’s solution drastically accelerates time to insight and to response by reducing “time-to-model” from months to days.
Pecan participated in the SAP.iO Foundry Tel Aviv’s Consumer Products Cohort and became an SAP Partner Edge Integrate Partner, beginning a long-term partnership with SAP, and will soon be available on SAP’s App Center. SAP’s CPG and FMCG mid-market clients can leverage Pecan in order to identify patterns in consumer purchasing, recommend relevant cross-sell and upsell opportunities, and optimize pricing
If anyone in the SAP Community is interested in connecting with Pecan or one of the other the SAP.iO Foundry Tel Aviv consumer products startups, please check out https://sap.io/tlv-demo-day-2020/
Applications for our next cohort are now open! If you know a startup that has an innovative solution for the Utilities industry, check out https://sap.io/tlv-apply/