How ATM Fleets Get Benefited By Using Predictive Analytics?

ATM setup and maintenance business is requires huge capital; after a bank set a fleet of ATMs across geographies after investing lot of money then the real part starts: managing them, which is tough.  

Now, how to make this tough exercise easy? Answer: Use Predictive Analytics.

 

Using predictive analytics, your bank can trace a device’s failure before it actually fails. Even when it fails also, there is 100% chance that it can send the right technician with the right component at the right time; eventually, minimizing the downtime of the ATM. In this case, the bank knows the downtime of the ATM in advance since it is planned.

Another advantage is that using the predictive analytics data, you can know the reason for the device failure. For example, is it because of the manufacturing problem, or deployment problem, etc. Since you know the reason for the device failure, sometimes you don’t have to send a technician to replace the parts; you can fix it by sending the right commands on-the-fly. 

In this case, you can do all this within zero downtime!

What do you say?

ARE WE TRYING TO PLAY GOD?

Or at least the son or daughter of God? But how? So far the way the humans have evolved in terms of technology, they want to know or desperate to know what lies in their future? From humans’ point of view, future holds a lot of promises rather than present. If we get at least a glimpse at the future from this point, we humans get a lot of grip about all the happenings that are going to happen, come to know about things that happened; in other words, why, when, and will happen. This is exactly what we want and why we want.

But what is the new thing that we stepped up on nowadays, which gave us a new thought about predicting future or at least an inkling about the future that is likely going to happen? The answer is PREDICTIVE ANALYTICS – an attempt from mankind to know what lies in their future. Is this a result of serendipity? Or is this a proper scientific discovery OR innovation? What’s the fuss is all about?

As per Wikipedia definition: Predictive analytics is an area of data mining that deals with extracting information from data and using it to predict trends and behavior patterns.

It means, whatever we gather from whatever is happening, we can predict future trends or events regarding that activity; right? Miraculous! That means ‘someone’ is giving us some space in such an arena where we had not thought so far! And you all know, what we call this ‘someone’ on this planet when we don’t have any clue about it; GOD!

In other words, following the language on this planet EARTH, GOD is giving us a chance to predict something that can happen in our future through the magic wand called PREDICTIVE ANALYTICS.