Parametric AI predictive analytics software (Market Assessment)

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Waterloo's predictive analytics software offers a novel way of analyzing large sets of discrete data aggregated as a time sequence of histograms and accurately predict how the sequence responds to extraneous factors for forecasting purposes. The methodology is designed to support Bayesian-based artificial intelligence algorithms in the context of accurately estimating conditional probabilities, especially arising from extreme events. Current competitive tools rely on methodologies that have either oversimplified the problem or inconsistently replicate how the histogram changes its location, scale or shape through time; therefore, generating less accurate forecasts. Some advantages of this technology include: (1) maximizing the utility of historic records by correcting for trends in consumers behaviour. (2) minimizing the need to manually audit any future incoming data (3) accurately track the probability of extreme outliers or exceptions in consumer behaviour and predict the occurrence in future events. (4) enable more insightful strategic planning and provides the foundation for optimized operations. As part of this Market Assessment grant, the selected consultant (Adventus) will perform a thorough market analysis to identify the most suitable market opportunities along with technical, marketing and financial challenges associated with the application of the technology in a particular market segment. A favorable market assessment result will 1) formulate the commercialization strategy and help attract potential licensees 2) form the basis for submitting a follow-on NSERC I2I Phase 1 project proposal.