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River Logic Launches Prescriptive Analytics Cloud Platform Built On Azure

By - Source: Toms IT Pro

Long known for its business optimizer software packages, River Logic announced the release of its prescriptive analytics cloud platform, built on Azure. Gartner defines prescriptive analytics as "the application of logic and mathematics to data to specify a preferred course of action." In the bottom tier of analytics software, most commonly implemented as Business Intelligence (BI), there is descriptive and diagnostic analytics. Predictive analytics is the next tier and tries to answer the questions: "Why is this happening," and "What will happen next?" Prescriptive analytics, the top tier of this type of business analytics, helps answer the questions: "What is the best that can happen?" and includes the effects of variability.

River Logic's Enterprise Optimizer culls data from enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), general ledger (GL) and other software, generating BI reports, forecasts and actionable plans, which helps cut across company silos.

River Logic's software also offers excellent visualization. One of the best features of the company's prescriptive analytics platform is the extensive ability to examine many "what if" scenarios, and with a cloud deployment, this ability is unlimited. River Logic claims that it's able to offer the fastest time to value; meaning that the savings generated by the software cover its cost, perhaps in as little as six weeks.

Gartner predicts that the number of companies using prescriptive analytics will triple in the next four years. It's no surprise that River Logic's press release liberally quoted Gartner, as the company was listed in the "challenger" quadrant in Gartner's 2015 analysis of sales and operations planning (S&OP) solutions, also known as integrated business planning (IBP). 

Part of the reason why River Logic is so keen to embrace prescriptive planning was described by Andre Boisvert, Board Vice-Chair, Senior Advisor and investor, who noted that "analytics drives decision making; companies are demanding content that is actionable rather than informative." To develop even more features and bolster enterprise partnerships, River Logic also announced it had secured 10 million in funding from Mercury Ventures, Ltd.    

The competitive advantage of River Logic is best summed up by the company's president: "Today's packaged planning solutions don't provide built-in, comprehensive, cross-functional scenario planning—instead, they solve problems in silos," said Carlos Centurion. "Scenario management is a top priority in our platform, offering unlimited what-if scenarios to evaluate trade-offs and discover the optimal course of action. Visual outputs are delivered to decision-makers in an easy-to-use interface with direct performance indicators across silos."