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Advanced Analytics

Using Analytic Models

by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"

There are only 3 things management can ever control:

  • The arrangement of its own business processes (e.g. sales, production, customer service, etc.)
  • The resources (money, people, assets) applied to those business processes, and
  • The volume and quality of work carried out within those business processes

However, organisations operate in an uncontrollable and often unpredictable business environment, such as market demand, energy, inflation and exchange rates.   As a consequence, the role of planning is to help manage what can be controlled to produce outcomes that will achieve organisational objectives, within an uncontrollable and unknowable external environment.

Evolution of 'Business Analytics'

by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"

‘Business Analytics’ is often portrayed as the latest miracle cure for managers wanting to improve corporate performance. But like most IT based capabilities, the hype is often in the realms of fantasy, which can never be realised. However, analytics is a capability that can bring tremendous value to those organisations who understand how and when it can be applied.

Increase Revenue by 8%, Reduce Costs by 10% using analytics

By Ian Yates,  Managing Director at Barcanet

It goes without saying that every successful business needs to be in full control of their finances - both income and expenses. To thrive in the current economic climate, businesses must make effective use of all the data their business produces. 

Although costs should not be a businesses No. 1 priority, it is paramount that business owners grasp the positive financial impact detailed analysis of their cost and operational performance data can have in both the short and long term. 

Towards Analytic Maturity

by Michael Coveney, co-author of "Budgeting, Planning, and Forecasting in Uncertain Times"

The volume of data available today is staggering. It is estimated that every 60 seconds around 1,820 Terabytes of data will have been created, 700,000 Google searches performed along with 98,000+ tweets and 11 million instant messages. Of course not all will be relevant to your organisation, but if data represents the ever changing requirement of our customers, shouldn’t we be interested? Business Analytics provides the only way to quickly and effectively sift through an ever increasing mountain of data to highlight hidden trends and nuggets of information that could be vital to survival and growth.

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