Can your business make money simply on its data?
ElectrifAi, a leading artificial intelligence and machine learning company, is helping companies answer this question in the affirmative. It provides technical expertise in assisting clients in ways to look closer at their data and figuring out ways to save money, improve efficiency, reduce waste, and even make it possible to explore new ventures.
The company’s clients come from all types of industries, and include several Fortune 500 companies and a variety of state and federal agencies.
ElectrifAi CEO Edward Scott has found that every client is unique, as are the innovative solutions that can help each client succeed. This also means that as clients continue to explore the benefits of AI and machine learning, this creates opportunities for ElectrifAi to help grow client revenue.
In some cases, a growth in revenue comes from helping clients improve old systems that may have been useful years ago but may not have been able to scale as the company grew. Sometimes clients have had to create so many workarounds to a problem, that improving systems runs the risk of breaking things. In other cases, ElectrifAi may help clients start from scratch. With ElectrifAi, revenue growth has been proven possible for several companies.
For instance, ElectrifAi once worked with a large U.S. city that utilized thousands of suppliers. When city officials wanted to change some of its spending to work with smaller, local suppliers as part of diversity efforts, they found that the procurement application they had in place for years wasn’t up to the task of integrating specific clients. So ElectrifAi helped develop machine language to re-address the entire spending and procurement process. Along with fulfilling the diversity initiative to better use underprivileged suppliers, the city also saw reduced spending.
Another ElectrifAi case study that resulted in improvements and a growth in revenue was when the company was asked to work with a large U.S. wireless provider that wanted to make improvements to its customer service process. Although the company had plenty of data to work with, this data wasn’t always communicated to the people who needed it. They found there were breakdowns between the sales, service, and retention sides since these three divisions were traditionally kept separate.
ElectrifAi brought them together by creating test-and-learn capabilities, plus added intelligence layers and data models to track a customer’s journey. They then came up with appropriate and practical points to interact with them. Thanks to ElectrifAi, revenue for the company grew by $130 million and also was estimated to save the client at least $10 million annually from unsatisfied customers wanting to cancel service.
Finally, ElectrifAi was able to help a client increase a high-end retailer’s revenue when the client sought to get a better sense of its overall spending. In this case, it felt it had too much data to work with and couldn’t narrow the focus to a single view, or at least look at total company-wide spending in a few categories. ElectrifAi was able to create a variety of data sources to better sort this data. This gave company officials a better sense of overall spending, which eventually led to greater savings and better negotiating.
ElectrifAi LLC understands the value that data adds to a company’s bottom line. By working with ElectrifAi, companies saw an increase in revenue and added value to their data.