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2025 AND BEYOND PART 6: Predictive analysis

Y Soft Corporation, YSoft SafeQ
Martin de Martini
Y Soft co-founder and CIO
In this sixth part of our series reviewing the Quocirca Global Print 2025 research, we look at predictive analysis and why 23% of the research respondents considered this to be an area of significant growth and change, impacting the future of the print industry.
 

Back to the future

The use of data, machine learning and statistical algorithms to identify future outcomes based on historical data is commonly known as predictive analysis. Looking at what has happened can create a futuristic viewpoint of what will happen and can offer invaluable insight. Having been around for a number of years, predictive analysis was originally developed in the 1940’s for governmental use. Used in device monitoring, user analytics and document capture applications, the processes can provide insight into:
 
  • what has happened (descriptive);
  • why it happened (diagnostic);
  • what will happen (predictive) and
  • what to do about it (prescriptive).
 
The rise of artificial intelligence (AI), big data, and the Internet of Things (IoT) alongside legacy technology has converged to create a perfect environment for the development of predictive analysis opportunities.

Impact on the print and imaging industry

Within the print and imaging industry, multifunctional devices (MFD) are data generating machines, and as organizations continue to look for competitive advantages, one of the key drivers toward predictive analysis is the ease of mining pre-existing data and turning it into an opportunity.
 
Collecting data from a range of sources, analyzing it and then providing insights can be beneficial to an organization.  Some of the main benefits of predictive analysis include enhanced security, improving operations, cost savings, reducing risk and optimizing service and maintenance. Three methods of data analysis are device monitoring, document capture and user analytics.
 
As customer’s focus shifts from products toward services, the ability to predict failures before they happen, such as proactive maintenance support and identifying anomalies, is incredibly beneficial. The industry is looking to improve service levels while lowering their costs and embracing the disruptive impact of analytics will be a key to success within the ever changing print market.

The future is now

At Y Soft, we are already harnessing the power of predictive analysis. Using both device monitoring and user analytics, YSoft SafeQ creates comprehensive reports about all copy, print, scan and fax activity. These reports are integrated easily with leading applications including Tableau, PowerBI, and NewFieldIT’s CompleteView, and enable customers to make fact-based optimization decisions based on real data.
 
Device monitoring: By collecting data from the MFD an organization can gain insights into trends, cost of ownership, cost analysis, and much more. This analysis enables optimization in the way a fleet is used, providing visibility and encouraging flexibility as usage changes. Predictive analysis may also proactively manage services and consumables, such as toner alerts, firmware updates, and error notifications, while reducing operational costs.
 
User analytics: The benefits of analyzing users print behavior include visibility, cost savings, awareness of security implications, establishing best practice and monitoring budgets. Alongside this, analysis highlights any gaps in security protocol.
 
Document capture: By using text and image analytics, optical character recognition (OCR) can identify a type of document, its purpose and content for search. This capability enables the automatic digitalization of documents through workflows with storage and distribution as required, optimizing document processing.

Y Soft predicts the future

The future of predictive analysis is to take a proactive approach. Y Soft is already looking at ways in which workflows can be enhanced within YSoft Labs. The move towards prescriptive data, which can be used proactively, may see further optimization in workflows, device management and data security. For example, using device-based analytics, a potential problem may be escalated and resolved before it even happens as workflows can be automatically changed and traffic redirected.

Destination: Innovation

Y Soft lives and breathes innovation, and our predictive analysis development program is well established and ready to support organizations to improve their processes and work flows. As outlined by the Global Print 2025 article, predictive analysis is an area of focus within the print industry and we are ready.
 
Download a free copy of the a YSoft executive summary of the Quocirca Print 2025 report to learn more. To purchase the full Quocirca report, visit www.print2025.com.
 
This is part six of a seven-part series exploring the Digital Transformation technologies identified by enterprise organizations in the Global Print 2025 report by Quocirca. Use these links to read other Digital Transformation technologies.

Part 1: Private, Hybrid or Public Cloud ​
Martin de Martini
Martin de Martini
Martin de Martini goes by Woodu at Y Soft. He ensures our internal processes make sense across our global offices. In addition, as an innovator and visionary at heart, he sees integration of new and game-changing solutions into established global processes as big fun and a challenge to face. And to broaden his perspective, he also travels to customer sites around the world bringing back the voices of customers to the teams in Prague and Brno.
View all posts by Martin de Martini

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