Predictive business needs often involve statistical analysis, data mining and machine learning (ML) techniques applied to diverse data sources. While language models like ChatGPT can assist in processing textual data, they fall short in handling structured data, such as financial records, customer demographics or market trends, which are pivotal for making informed business predictions.
Predictive analytics also demand a deep understanding of the industry, market dynamics and business objectives, factors that large language models may not inherently possess. They rely on the data they were trained on and may not adapt well to new or specialized domains without extensive fine-tuning.
To meet predictive business needs effectively, Pecan AI, a provider of AI-based predictive analytics for data analysts and business teams, announced Predictive GenAI, a unique combination of predictive analytics and generative AI that kickstarts fast, easy predictive modeling.
Pecan's Predictive GenAI uses LLMs alongside traditional machine learning techniques to make predictive modeling accessible for business users without deep technical expertise. Through two key features, Predictive Chat and Predictive Notebook, users can tackle diverse predictive challenges with increased ease.
Predictive Chat acts as a conversational guide. It prompts users to describe their business problems and collaboratively defines the appropriate predictive model. Pecan then generates a SQL-based Predictive Notebook containing necessary queries and sample data tailored to the specific business context. Users can refine the modeling approach before letting the platform's automated data preparation and model-building capabilities take over.
The process culminates in actionable predictions that allow users to address their business challenges and achieve better outcomes. Regardless of industry or department, Predictive Chat bridges the gap between business needs and accurate, granular forecasts. Examples include predicting customer churn or equipment malfunction, enabling proactive interventions.
“It’s not always easy for businesses to solve challenges with predictive modeling - until now,” said Limor Segev, senior vice president of product, Pecan AI. “We have eliminated the need to learn complex code, invest in expensive hires or enlist the help of a third party. Predictive GenAI unlocks transformative business capabilities through an entirely new path to building data science models.”
Predictive GenAI marks a new step in enterprise AI adoption, where generative AI and predictive AI work together to unlock the value of businesses’ data. Data analysts and business professionals can try Pecan, including the Predictive GenAI tools, for free.
Be part of the discussion about the latest trends and developments in the Generative AI space at Generative AI Expo, taking place February 13-15 in Fort Lauderdale, Florida. Generative AI Expo discusses the evolution of GenAI and feature conversations focused on the potential for GenAI across industries and how the technology is already being used to create new opportunities for businesses to improve operations, enhance customer experiences, and create new growth opportunities.
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