How are we different?
Business and policy problems are typically about people, whether you are looking at your customers or within your organization. The challenge is to better predict and understand what influences people – millions of people, with different characteristics and circumstances making different decisions in a constantly changing world.
There are many factors that influence human decision making:
- Social: demographics, psychology, market research, communications and perception
- Economic: price, expendable income, discretionary and non-discretionary spending
- Environmental/Engineering: products, efficiency, age, size, weather
- Political: policies, regulations, constraints, legalities
Traditional forecasting approaches do not typically consider all of these factors, or are not suited to this complex human-centric problem:
- Spreadsheets: a 2D tool to tackle a multi-dimensional problem.
- Econometric only or mathematical models: limited in addressing non-linear, dynamic and human-centric problems; lack detail; and comprise unrealistic assumptions about human decision making.
- Data mining and statistics: provide only part of the picture with “what people do”, but little insight into “why people do it”; and extrapolation of historical data is limited when the past is not always a good predictor of the future.
ISD’s Behavioral Business Intelligence solutions, powered by its award winning micro-simulation platform SimulAIt, considers all of the human decision making factors, and can manage the detail and complexity of the problem. This enables you to more accurately predict and explore options to influence decision making.
SimulAIt is able to integrate a wide range of qualitative and quantitative social, economic, environmental and political data to create a simulation model of millions of people, and how they react and respond to different strategies, products, prices, policies, and competitive behavior.
SimulAIt forecasts have demonstrated accuracy of over 95%, and allow you to answer a broad range of questions, and isolate individual components within a campaign.
Our solutions are complementary to your existing systems, models and data, and not a replacement. We utilize them to enable you to gain greater insight into the people that make the difference to achieving your business strategies and objectives.