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Demand Forecasting
Challenge
Accurately predicting demand is a challenge to all manufacturers. This can lead to either stockouts or excess inventory which further led to missed sales opportunities or excessive discounts. Traditional rule based static forecasting methods often fail to account for complex variables such as seasonality, market trends, or sudden disruptions.
Solution
Unify AI helps to create machine learning models that can leverage advanced algorithms to analyze vast datasets, including sales history, market trends, and even external factors like weather or geopolitical events to make more accurate demand forecasts. Moreover, these ML models continuously learn from data and keep improving in their predictions. Unify AI can integrate with other business systems to access and process real-time information, allowing the ML models to adjust forecasts as new data comes in.
Benefits
Technical benefit - The AI Studio component of our Unify AI platform rapidly builds and deploys models to forecast demand by analyzing customer behavior, product features, past data and any other variables relevant to the business. It integrates seamlessly with your business systems for real-time feedback and continuous improvement.
Business benefit - Implementing AI for demand forecasting leads to optimized inventory management, reduced waste, and improved production planning. Manufacturers can now reduce the risk of overproduction or shortages thereby lowering operational costs and enhancing customer delight and loyalty.
Credit Scoring & Risk Assessment
Challenge
Multiple sources for data for credit assessment. Bias in manual risk evaluations. Slow, resource-heavy credit scoring processes. Adapting to changes in borrower behavior and real-time data was challenging.
Solution
Automated model orchestration for risk assessment models, streamlining workflows, improving accuracy, and integrating seamlessly with end-system APIs for custom, efficient decision-making.
Benefits
Technical Benefits: UnifyAI automates credit evaluations, reducing manual intervention while processing large volumes of financial data. It ensures unbiased assessments, provides instant credit risk evaluation, and allows for tailored risk models that reflect specific business needs.
Business Benefits: AI Studio enhances trust through transparent credit scoring, reduces approval times, and lowers costs by optimizing the process. It minimizes loan defaults by accurately identifying high-risk borrowers, improves profitability, and ensures regulatory compliance.
Persistency
Challenge
Scattered persistency models across data scientists' local systems caused offline inferences, time-consuming manual scripts and manual sharing, resulting in delays and inefficiencies.
Solution
Achieved higher efficiency with AI Studio to centralize various persistency models, streamlining workflows, getting real-time insights, scalability,and reproducibility - thus, simplifying model management.
Benefits
Technical Benefits: UnifyAI offers high-accuracy models for predicting policy persistency and integrates with policy management systems to analyze customer behavior. The platform supports large datasets, providing scalable analysis across insurance products and customer segments.
Business Benefits: Identifies at-risk policyholders for targeted interventions, enhances retention strategies, and strengthens customer relationships. Improves revenue stability by increasing persistency rates and reducing policy lapses.
