Anticipating customer behavior and business events by using predictions
Better address your customers' needs by predicting customer behavior and business events. For example, you can determine the likelihood of customer churn, or chances of successful case completion.
With Pega Platform, you can predict events in your business activity by creating predictions in Prediction Studio. To create a prediction, you answer several questions about what you want to predict. Based on your answers, Prediction Studio creates a self-learning adaptive model that is the basis of the prediction. You can then include the prediction in your decision strategy, to help you better adjust to your customers' needs and achieve your business goals at the same time.
For example, you can create a prediction that calculates whether a customer is likely to accept an offer, and then add the prediction to a next-best-action strategy. The next-best-action strategy prepares several propositions for a customer, and then selects the one that the customer is most likely to accept.
- Creating predictions
Create predictions to anticipate business events and customer behavior, such as the chances of a successful case completion or the probability of a customer accepting an offer. You can then increase the accuracy of your decisions by including the predictions in your decision strategy.
- Defining a Prediction shape
Calculate the propensity score of a business event or customer action by including a Prediction shape in your decision strategy. For example, you can use a Prediction shape to calculate which offer a customer is most likely to accept.
- Adaptive analytics
Adaptive Decision Manager (ADM) uses self-learning models to predict customer behavior. Adaptive models are used in decision strategies to increase the relevance of decisions.