Transforming Business Decisions with Predictive AI in Qlik Cloud: 2024 in Review

Business leaders today face a critical challenge: How do you move from analyzing what happened to confidently predicting and shaping what comes next? Throughout 2024, we've enhanced Qlik Cloud's predictive AI capabilities to help organizations bridge this gap, enabling them to predict future outcomes, understand key drivers, and take informed action.

Since launching our predictive AI capabilities in Qlik Cloud, we've seen tremendous adoption across industries, with customers on track to train over 70,000 models and make more than 250 million predictions in 2024. This rapid adoption demonstrates how organizations are embracing the power of predictive AI to transform their decision-making processes.

The Journey to Predictive-Driven Decisions

Traditional analytics tell you what happened in the past. But in today's fast-moving business environment, organizations need to anticipate changes and opportunities before they arise. Within Qlik Cloud, we've created a seamless experience that empowers business users to harness predictive AI within their familiar analytics environment, transforming how they make decisions.

Key Innovations in 2024

Intelligent Model Optimization

Our enhanced predictive AI capabilities ensure models deliver reliable, business-ready insights:

• Advanced Feature Engineering: Automated processing for dates, text, and complex data relationships, reducing time from data to prediction by up to 80%

• Smart Target Protection: Sophisticated validation ensures model reliability and prevents data leakage

• Intelligent Sampling: Enhanced methodologies for handling imbalanced datasets and complex scenarios

• Feature Correlation Analysis: Deep understanding of relationships between variables for optimal model performance

Business Impact: These advancements mean your teams can trust the predictions driving their decisions, with models that automatically handle real-world complexities and scenarios that normally require a skilled data scientist to manually consider.

Embedded Analytics Powered by Qlik Sense

Turn predictions into action through seamless integration with the Qlik analytics engine:

• Interactive Prediction Dashboards: Compare models and scenarios in real-time within your analytics workflow

• Enhanced SHAP Analysis: Clear visualization of prediction drivers and feature importance

• Real-time What-if Analysis: Dynamic exploration of different scenarios

• Streamlined Batch Predictions: Efficient handling of large-scale predictive scenarios

Business Impact: Business users can move seamlessly from insight to action, exploring scenarios and making decisions without leaving their analytics environment.

Enterprise MLOps and Governance

Scale AI across your organization with confidence:

• Serverless MLOps Lifecycle: Fully automated training, deployment, and monitoring

• Feature Drift Monitoring: Proactive detection of model performance changes

• Flexible Approval Workflows: Customizable governance processes

• Dataset Management: Seamless updating and refreshing of training data

Business Impact: Organizations can scale their predictive AI initiatives with confidence, knowing they have the necessary controls and monitoring in place without the need for specialist teams to manage, monitor and scale configuration and infrastructure.

Customer Success Stories

The power of predictive AI in Qlik Cloud comes to life through our customers' innovative applications. From optimizing food production to revolutionizing retail operations, organizations are leveraging these capabilities to solve complex business challenges and drive measurable outcomes. Here's how leading companies across industries are using predictive AI to transform their operations:

European Food Producer Optimizes Production

A major European food producer faced the challenge of aligning daily production with distributor demand. Using Qlik Cloud's predictive AI capabilities, they achieved over 90% accuracy in demand forecasting, reducing the deviation between predicted and actual demand to just 1%. This dramatic improvement helped minimize waste, optimize storage, and maintain product quality while significantly reducing costs.

Global Health & Wellness Provider Enhances Customer Experience

A global leader in health and wellness services struggled for over a year to implement predictive AI for their complex retail operations. Within just one month of selecting Qlik Cloud, they successfully deployed ML-driven predictive optimization and inventory management capabilities across their worldwide locations. The solution analyzes customer behavior and cruise passenger data to provide personalized recommendations, optimize pricing, and reduce stockouts.

Theme Park Operator Predicts Attendance Patterns

A major entertainment company needed to predict attendance across multiple parks in different countries. Using Qlik Cloud's predictive AI capabilities, a single developer with no data science expertise built and deployed accurate prediction models in less than two weeks. This rapid implementation demonstrated how quickly organizations can move from idea to value with the right tools and platform.

Financial Services Firm Optimizes Lead Scoring

A financial services company implemented real-time lead scoring using Qlik Cloud's predictive capabilities. Within the first week of operations, they realized $34,000 in weekly savings by reducing poor-quality leads. The solution now processes over 150,000 real-time API calls monthly, delivering a 75% reduction in cost per lead while improving sales efficiency.

The Power of Qlik Cloud

These enhancements represent more than just feature updates – they're part of Qlik's comprehensive approach to solving predictive challenges in the modern enterprise. By integrating predictive AI capabilities within Qlik Cloud, organizations can leverage a complete end-to-end platform that seamlessly moves from data preparation and model development to deployment and monitoring. This integration enables teams to focus on driving business value through predictive insights rather than managing multiple tools, accelerating time-to-insight and enabling more confident decision-making.

Looking Ahead

Our innovation continues with upcoming capabilities that address key customer challenges:

• Enhanced Continuous Feature Handling: Enables more accurate predictions for time-based data, helping organizations better forecast trends and seasonal patterns in their business operations.

• Advanced Class Imbalance Handling: Critical for scenarios where important events are rare, such as fraud detection or equipment failure prediction, ensuring models remain accurate even with uneven data distributions.

• Expanded API Capabilities: Allows seamless integration of predictive insights into existing workflows and applications, enabling automated decision-making at scale.

• Improved Model Monitoring and Governance: Ensures predictions remain accurate over time while maintaining compliance and trust, crucial for organizations scaling their AI initiatives across the enterprise.

• Enhanced Data Preparation Workflows: Streamlines the journey from raw data to prediction, reducing time-to-insight and enabling faster business decisions.

These enhancements reflect our commitment to making predictive AI more accessible, reliable, and actionable within your existing Qlik Cloud environment, helping organizations move from reactive to proactive decision-making.

Take Action Today

The future of business decision-making is predictive, and Qlik Cloud provides the foundation for AI-driven intelligence. Whether you're optimizing operations, reducing costs, or identifying new opportunities, our predictive AI capabilities help you move confidently from insight to action.

See how Qlik Cloud can transform your predictive analytics journey