To complete this benchmark, expert statisticians completed an analytics project using market leading analytics products to predict customer attrition for a leading Fortune 500 software and IT services company. ColdLight employed Neuron to take on the same challenge.
Four key criteria were measured:
Category 1: Speed/Cost of Developing Predictive Model.
* Traditional Analytics Team: The traditional analytics approach took 14 weeks to complete, requiring an investment of $100K+ in professional services and an additional $2500 in predictive analytics software licenses.
* Neuron: Using Neuron, the required professional services investment for setup was only a few days and less than $10K in fees. Neuron completed the analysis in just a few minutes.
Category 2: Maintenance.
* Traditional Analytics Team: The models developed by the traditional analytics team required constant optimization and analysis of statistical models due to model atrophy over time. Every time the data changed or was updated, the model had to be re-assessed by the statistician. An additional $25K was required for manual model optimization and maintenance under the traditional analytics approach.
* Neuron: Ongoing statistical model maintenance was totally eliminated due to Neuron's self-learning capability which enables Neuron to automatically adjust and improve its predictive models without human intervention without any loss of prediction accuracy due to atrophy.
Category 3: Accuracy of Predictive Model. This category measured how accurately a prediction model was able to take a sample test data set and predict an unknown validation data set.
* Traditional Analytics Team: Predictability accuracy averaged below 75%.
* Neuron: Routinely achieved 90%+ predictability accuracy without any human intervention or optimization.
Category 4: Ability to transform the predictive model into competitive business action.
* Traditional Analytics Team: Unable to deliver clear competitive action from output of analytic models due to the reliance on various business experts to interpret the data. The business analytsts were unable to clearly define the appropriate competitive action after an additional 4 weeks and $25K in professional services.
* Neuron: Neuron was able to instantly deliver the prescriptive, actionable recommendation in seconds without human intervention and at no additional cost. Neuron also provided a 90% confidence rating on its recommendation based on blind testing.
The Bottom Line
"This is a significant performance by Neuron. We have demonstrated quantitatively what we had theorized," said Ryan Caplan, President & CEO of ColdLight, "We have proven Neuron’s ability to out-think and out-perform traditional human analytics and traditional analytics software. It’s not magic, it’s math. The best tools in the world are no match for Neuron because they require intensive human interaction and expertise to get value. Neuron is automated machine intelligence. It does all the hard work, and it does it at blazing speed and with mind-boggling accuracy. It’s a real game changer."
"Unlike any other product on the market today, Neuron is able to learn from its recommendations, automatically readjusting complex models in real time. What had previously required human intervention and months of work now happens in seconds," said Caplan. "We’re just at the beginning of these exciting results, but one thing is clear: Neuron is a huge time and cost saving solution. Machine intelligence is finally in the spotlight and proving just how powerful it can be. The results are clear. Pitting Neuron against traditional analytics is like racing a horse and buggy against a Ferrari."
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About ColdLight
ColdLight helps business people make smarter, faster decisions with easy-to-use artificial intelligence products and services designed specifically for the business person. ColdLight automates the analysis of complex data identifying hidden patterns that can influence business goals. ColdLight’s flagship SaaS product Neuron (TM) uses next-generation artificial intelligence to rapidly help businesses discover trends and turn those patterns into action. Neuron (TM), Prescriptive intelligence (TM) and ColdLight Solutions (TM) are Trademarks of ColdLight Solutions, LLC
Visit ColdLight online at www.coldlightsolutions.com
Contact Information
Public Relations
ColdLight Solutions, LLC
460 E Swedesford Rd, Suite 1050
Wayne, PA 19087
sales@coldlightsolutions.com
T: 877.493.7186
F: 610.337.4270
www.coldlightsolutions.com
