Normet, a provider of advanced mining and tunnelling solutions, has chosen to implement the Ignizer decision intelligence platform from Ignize as an advanced support tool for central and local business owners.
Ignizer said the technology is an AI and machine learning-based predictive analytics tool that uses historical business data from a wide range of sources to identify patterns and correlations between key indicators and business results.
These learnings can then be applied to current and future business issues to help identify what the outcome is likely to be for different alternatives and initiatives.
Ed Santamaria, chief executive officer, Normet, said the mining industry is well known for its rapid shifts in business conditions, but that it has created a model to predict the impact of fluctuations.
The Ignize decision intelligence platform implementation at Normet will aggregate data feeds combining internal and external indicators such as customer financial health, the performance of installed products, and commodity price development and other macroeconomic conditions.
These indicators are used to predict orders and sales volumes at both central and regional levels, as well as help set priorities and targets in the annual budget process and business performance review.
