Leading Cloud EPM and Predictive Analytics Platforms Integrate to Provide Automated Financial and Predictive Forecasts
Host Analytics, the leading provider of scalable, cloud-based enterprise performance management (EPM) solutions and Prevedere, a cloud-based enterprise predictive analytics provider, today announced they have signed a partnership agreement to provide companies with the ability to predict the validity and accuracy of business performance forecasts using real-time global data. The partnership was announced at Host Analytics World 2017 where integration between the two products was demonstrated to over 700 Host Analytics users.
Prevedere predictive analytics correlates millions of external data points, such as economic, environmental and consumer behavior data, with a company’s historical plans to create more accurate and valid performance forecasts. The Host Analytics EPM platform enables the planning, budgeting, modeling, consolidations, and reporting processes for its clients. By integrating Prevedere predictive technology with the Host Analytics platform, customers can better assess, validate, and confirm future forecasts and expectations, bringing a powerful capability to the traditional planning process.
“Prevedere’s powerful predictive technology gives our customers a way to leverage Host Analytics beyond the capabilities of any other EPM provider in the market,” said Dave Kellogg, CEO of Host Analytics. “Adding predictive analytics to forecasting gives our customers more insight, control, and confidence their forecasts will be accurate even in a volatile market.”
Prevedere’s correlation engine accurately determines what external factors, such as commodity prices and CPI, are true leading indicators for company revenues and profits for any product and segment of the country. Host Analytics customers will be able to integrate predictive models and leading indicators with their own financial and operational plans to predict the validity and accuracy of their forecasts. In addition, the integration allows companies to leverage predictive analysis across any forecasts or models in Host Analytics, including demand, supply, and market forecasts.
“The combination of Prevedere with the Host Analytics platform allows us to demonstrate exactly how predictive forecasting complements traditional forecasting,” said Rich Wagner, founder and CEO of Prevedere. “Our companies have similar goals–to use data to help customers better understand and manage the expectations for their financial performance. Adding predictive insight to Host Analytics’ performance management platform provides more validity to future forecasts and increases awareness into how organizations can influence future performance.”