Insurance company

AI based budget allcation
Budget allocation using businesses insights powered by artificial intelligence
Challenge
Our customer had already for some years been committed to implementing AI models giving important information on sales resource allocation. The company wanted to add Bayesian Networks to their AI models, enabling a closer relation to a causal world model.

Our customers had previously been using various types of models to give insights on how to allocate budget resources to maximize sales. But they wanted to go one step further, where they actually got information about the certainty of the outcome in order to better evaluate the different potential stages of impacting sales. What is the range of expected returns on media investments vs more effort on branding materials vs doing special offers?
Solution
We helped our customers in scoping and synchronizing business requirements for data and modeling in order to deliver the desired learnings. Then proceeded to consolidate all available and required data and prepare it for modeling.

Using our unique AI technology to develop a Hierarchical Bayesian Model we could deliver the optimal budget recommendations across several countries.
Business value
Enabling deep market insight based on factual data and statistical priors, demonstrating potential sales budget savings of up to 25% compared to existing spending and increased value-based customer-centric sales initiatives & plans.

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