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Big data” is widely discussed these days, among both businesses and consumer groups. As the volume of data that corporations compile increases exponentially, more and more organizations are leveraging predictive analytics technologies to transform that information into intelligence—and, ultimately, value—for the company. A familiar example is the way in which certain online stores suggest items a particular consumer might be interested in purchasing, based on an analysis of his or her prior buying behavior.

Today, many companies are grappling with how to harness their vast data stores, exploring the potential of predictive analytics to support a variety of corporate functions. One department that may soon be revolutionized by predictive analytics solutions is credit and collections. Analytics software can help accounts receivable (A/R) teams increase cash flow by not only prioritizing which customers are contacted by collections staff, and when, but also recommending a method of contact that is most likely to help the organization get its invoices paid fast.

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