With any business decision, there is a risk of getting it wrong when markets or events turn against you.
San Francisco, CA (PRWEB) October 01, 2015
DecisionNext, a prescriptive analytics company built for commodities-driven industries, today announced DecisionNow, the industry’s most advanced, end-to-end, prescriptive analytics platform for food and natural resource businesses. The DecisionNow platform applies prescriptive analytics to high value decisions across the entire value chain, including purchasing, production, mix, pricing, and deal terms.
“With any business decision, there is a risk of getting it wrong when markets or events turn against you,” said Mike Neal, co-founder and CEO of DecisionNext. “While always predicting the expected profitability of decisions, DecisionNext also quantifies the likelihood of getting it wrong, which gives buyers and sellers new clarity and confidence in commodity markets.”
Developed by the same team behind DemandTec (acquired by IBM in 2011) and SignalDemand (acquired by PROS in 2013), the DecisionNow™ platform features:
- Forecasting and Simulation Foundation: Best-in-class technology accurately forecasts the future value of market variables, including prices, costs and production levels, along with a detailed understanding of the drivers behind those forecasts. The Forecasting and Simulation Foundation includes:
-- Scenario-based forecasting, which visually plots forecasts along with historical actuals, and allows users to change underlying assumptions to see the impact on the forecast. Specific scenarios can be “ratified” and saved for future use by the organization. These uses can include business planning, sourcing, sales, pricing, stress testing, and risk management.
-- Exploratory analyses goes beyond visualization and lets users study forecasts and simulation inputs and results through a comprehensive user interface with almost unlimited flexibility.
- DecisionDesks significantly take the guess work out of complex decisions on any time scale, from monthly to real-time. DecisionDesks address discreet decision alternatives, bringing forecasts and analysis together in a way that provides the user with an instant assessment of the expected value and relative risk of each alternative. Currently available, DecisionDesks are available to support:
-- Forward Sold Target Setting
-- Forward Bought Target Setting
-- Mineral Destination and QP Analysis
-- Capacity Reduction Scheduling
-- Alternate Product Analysis
-- Performance Pricing
-- Retail Promotion Effectiveness
“With DecisionNext, we are able to work efficiently and effectively in a way that wasn’t possible before,” said Steve Cohorn, pricing executive at JBS. “Understanding the impact of our decisions allows us to improve revenues through optimizing our sales transactions across the value chain.”
The DecisionNow platform combines big data and high performance computing architectures to address difficult business problems and generate definitive business value. The DecisionNow simulation engine evaluates not just the expected (most likely) outcome, but actually evaluates the entire range of possible outcomes. Highlights of the architecture include:
- Seamless integration of internal and external data sources
- Incorporating expert user and organization knowledge to obtain the best forecasts
- Advanced forecasting and simulation technology using cutting edge Bayesian models adapted specifically for commodities
- High throughput No-SQL and HPC storage architecture to support large scale simulation
- Flexible DecisionDesk user interface to support rapid development of business decision applications
For more information on DecisionNow, pricing, or to request a demo, visit http://decisionnext.com/.
About DecisionNext
DecisionNext is a cloud-based prescriptive analytics company that helps commodities-driven industries quickly and accurately measure the impact of market conditions on maximize profit and minimize waste. DecisionNext’s proprietary software deploys sophisticated algorithms along with expert insights to analyze large amounts of data that let business leaders to see the most profitable path forward across their most complex, high value decisions. DecisionNext’s client portfolio includes some of the world’s largest companies and most well-known brands in agribusiness food, mining, oil and gas, and forestry. DecisionNext is based in San Francisco, with offices in Perth, Australia and Paris, France. To keep up with the latest, visit decisonnext.com or follow us at @decisionnextHQ.