As all businesses continue to collect, store and analyze more data than ever before, they face growing data challenges to support decision-making. Those who can leverage predictive and prescriptive analytics will differentiate themselves in the marketplace and gain a competitive advantage. In this report by Financial Executives Research Foundation Inc. and Grant Thornton LLP, we highlight insights from in-depth interviews with senior-level executives. These organizations use advanced analytics in their businesses to gain significant profit improvements. See more at - http://gt-us.co/1vv2KU9
What we do; predictive and prescriptive analyticsWeibull AS
Prescriptive Analytics goes beyond descriptive, diagnostic and predictive analytics; by being able to recommend specific courses of action and show the likely outcome of each decision.
Predictive analytics will tell what probably will happen, but will leave it up to the client to figure out what to do with it.
Prescriptive analytics will also tell what probably will happen, but in addition: when it probably will happen and why it likely will happen, thus how to take advantage of this predictive future. Since there are always more than one course of action prescriptive analytics have to include: predicted consequences of actions, assessment of the value of the consequences and suggestions of the actions giving highest equity value for the company.
Beyond analytics: Prescriptive analytics for the future of your business by Á...Big Data Spain
Analytics has undoubtedly changed the way businesses are operated. It has made clearer than ever that what cannot be measured cannot be managed. However, about 80% of Big Data projects still merely rely on descriptive analytics. While clever visualizations of the business data can be of great aid in the decision making process, there is much more value to be explored through deeper analytical processes. Whenever information about business rules and costs is available, prescriptive analytics can recommend efficient courses of action to optimize costs or revenues.
Session presented at Big Data Spain 2015 Conference
16th Oct 2015
Kinépolis Madrid
http://www.bigdataspain.org
Event promoted by: http://www.paradigmatecnologico.com
Abstract: http://www.bigdataspain.org/program/fri/slot-29.html#spch29.2
This presentation shows how Predictive Analytics can be more futuristic than BI in using past events to predict the future.
Furthermore, we explore the best practices in Predictive Analytics, the challenges in deployment and how this solution can be used to create business value for the organization.
Presented by Ajay Gopikrishnan, our expert in Predictive Analytics and Data Mining at the BA4ALL (Business Analytics Insight 2014) event in the Netherlands.
http://www.capgemini.com/big-data-analytics
What we do; predictive and prescriptive analyticsWeibull AS
Prescriptive Analytics goes beyond descriptive, diagnostic and predictive analytics; by being able to recommend specific courses of action and show the likely outcome of each decision.
Predictive analytics will tell what probably will happen, but will leave it up to the client to figure out what to do with it.
Prescriptive analytics will also tell what probably will happen, but in addition: when it probably will happen and why it likely will happen, thus how to take advantage of this predictive future. Since there are always more than one course of action prescriptive analytics have to include: predicted consequences of actions, assessment of the value of the consequences and suggestions of the actions giving highest equity value for the company.
Beyond analytics: Prescriptive analytics for the future of your business by Á...Big Data Spain
Analytics has undoubtedly changed the way businesses are operated. It has made clearer than ever that what cannot be measured cannot be managed. However, about 80% of Big Data projects still merely rely on descriptive analytics. While clever visualizations of the business data can be of great aid in the decision making process, there is much more value to be explored through deeper analytical processes. Whenever information about business rules and costs is available, prescriptive analytics can recommend efficient courses of action to optimize costs or revenues.
Session presented at Big Data Spain 2015 Conference
16th Oct 2015
Kinépolis Madrid
http://www.bigdataspain.org
Event promoted by: http://www.paradigmatecnologico.com
Abstract: http://www.bigdataspain.org/program/fri/slot-29.html#spch29.2
This presentation shows how Predictive Analytics can be more futuristic than BI in using past events to predict the future.
Furthermore, we explore the best practices in Predictive Analytics, the challenges in deployment and how this solution can be used to create business value for the organization.
Presented by Ajay Gopikrishnan, our expert in Predictive Analytics and Data Mining at the BA4ALL (Business Analytics Insight 2014) event in the Netherlands.
http://www.capgemini.com/big-data-analytics
Material for the 26 Oct 2015 lecture I held for Aalto University business students. The lecture focuses on the high level topics in analytics and Big Data that are either central to the subject or just highly visible in the media.
The main messages of the lecture are:
- The purpose of analytics and of the data analyst is to solve business problems
- Big Data brings over some very special traits to doing analytics that don't exist when working working with smaller datasets. Understanding these traits is a must for successful analytics.
- Deploying analytics is more dependent on humans than on technology
- Data and analytics are nowadays significant assets to many companies. Therefore they need their own strategy and need to be managed just like any other business critical assets.
Gather the required information from the data and predict future outcomes and trends. Use content-ready Predictive Analysis PowerPoint Presentation Slides to forecast future probabilities. Majorly applied in the business field, predictive analysis PPT templates will help you evaluate current data and historical facts to understand customers, products, services, partners, and to identify potential risks and opportunities for an organization. This deck comprises of templates such as research methodology, consumer insights consumption, need for consumer insights, key stats, data collection and processing, consumer insight capabilities, These templates are completely customizable. You can edit the templates as per your need. Change color, text, icon and font size as per your requirement. Add or remove the content, if needed. Get access to the predictive analysis PowerPoint presentation slideshow to predict future outcomes for various business topics such as customer relationship management, health care, collection analytics, fraud detection, risk management, direct marketing, industry applications, etc. Get access to the professionally designed ready-made predictive analysis PowerPoint presentation slides for your business to interpret big data for your benefit. Maintain your demeanour with our Predictive Analysis Powerpoint Presentation Slides. They will help you keep your cool.
Predictive Analytics: The Next Wave in Business IntelligencePerficient, Inc.
We discuss how Predictive Analytics enables decision makers to predict future events and proactively act on that insight to drive better business outcomes and deliver the insight needed to answer key business questions:
- How to reduce churn and retain the most loyal customers to maximize profitability (predict which customers are most likely to leave and which are most loyal)
- How to detect and ultimately prevent fraudulent activity
- Which factors are most likely to drive customers to choose my product over the competitor’s?
- How to integrate Predictive Analytics with an existing Business Intelligence platform
Presenter Tom Lennon is Director of Perficient's National Business Intelligence Competency Center.
Business Analytics and Optimization Introduction (part 2)Raul Chong
Technical introduction to Business Analytics and optimization. This is part 2. Part 1 can be found here: http://www.slideshare.net/rfchong/business-analytics-and-optimization-introduction
Presentation on "A Complete Overview of Data Driven Decision Making in a Quickly Changing Business Environment" given by Isaac Aidoo, Head of Data Analytics, Zoona.
In this presentation Juan M. Huerta talks about big data adoption process at Citi, realising the technical value of big data and global solutions. Huerta goes on to talk about following a hybrid approach, and the future of analytics, expensive algorithms applied to large datasets. With Citi using these approaches in hopes of getting even wider global recognition.
An introduction to BRIDGEi2i - Analytics Solutions company focused on solving complex based problems based on data mining and advanced analytics on big data. Visit http://www.bridgei2i.com
This presentation was part of the talk delivered by T Ashok Founder & CEO STAG Software at the HSTC 2013: "Think Testing" Conference on Nov 21 & 22 at Hyderabad.
Business Intelligence And Business Analytics | ManagementTransweb Global Inc
Business Intelligence is the initial basic step of Business Analytics. It refers to gathering raw and complex data, and converting it into systematic and logical information in a format that is usable by the end user. Copy the link given below and paste it in new browser window to get more information on Business Intelligence And Business Analytics:-
http://www.transtutors.com/homework-help/management/managing-information-technology/business-intelligence-analytics/
Session about types of analytics. Descriptive, diagnostic, predictive and prescriptive analytics.
Conference DATA ANALYSIS DEVELOPMENT 2016 by RZECZPOSPOLITA.
Material for the 26 Oct 2015 lecture I held for Aalto University business students. The lecture focuses on the high level topics in analytics and Big Data that are either central to the subject or just highly visible in the media.
The main messages of the lecture are:
- The purpose of analytics and of the data analyst is to solve business problems
- Big Data brings over some very special traits to doing analytics that don't exist when working working with smaller datasets. Understanding these traits is a must for successful analytics.
- Deploying analytics is more dependent on humans than on technology
- Data and analytics are nowadays significant assets to many companies. Therefore they need their own strategy and need to be managed just like any other business critical assets.
Gather the required information from the data and predict future outcomes and trends. Use content-ready Predictive Analysis PowerPoint Presentation Slides to forecast future probabilities. Majorly applied in the business field, predictive analysis PPT templates will help you evaluate current data and historical facts to understand customers, products, services, partners, and to identify potential risks and opportunities for an organization. This deck comprises of templates such as research methodology, consumer insights consumption, need for consumer insights, key stats, data collection and processing, consumer insight capabilities, These templates are completely customizable. You can edit the templates as per your need. Change color, text, icon and font size as per your requirement. Add or remove the content, if needed. Get access to the predictive analysis PowerPoint presentation slideshow to predict future outcomes for various business topics such as customer relationship management, health care, collection analytics, fraud detection, risk management, direct marketing, industry applications, etc. Get access to the professionally designed ready-made predictive analysis PowerPoint presentation slides for your business to interpret big data for your benefit. Maintain your demeanour with our Predictive Analysis Powerpoint Presentation Slides. They will help you keep your cool.
Predictive Analytics: The Next Wave in Business IntelligencePerficient, Inc.
We discuss how Predictive Analytics enables decision makers to predict future events and proactively act on that insight to drive better business outcomes and deliver the insight needed to answer key business questions:
- How to reduce churn and retain the most loyal customers to maximize profitability (predict which customers are most likely to leave and which are most loyal)
- How to detect and ultimately prevent fraudulent activity
- Which factors are most likely to drive customers to choose my product over the competitor’s?
- How to integrate Predictive Analytics with an existing Business Intelligence platform
Presenter Tom Lennon is Director of Perficient's National Business Intelligence Competency Center.
Business Analytics and Optimization Introduction (part 2)Raul Chong
Technical introduction to Business Analytics and optimization. This is part 2. Part 1 can be found here: http://www.slideshare.net/rfchong/business-analytics-and-optimization-introduction
Presentation on "A Complete Overview of Data Driven Decision Making in a Quickly Changing Business Environment" given by Isaac Aidoo, Head of Data Analytics, Zoona.
In this presentation Juan M. Huerta talks about big data adoption process at Citi, realising the technical value of big data and global solutions. Huerta goes on to talk about following a hybrid approach, and the future of analytics, expensive algorithms applied to large datasets. With Citi using these approaches in hopes of getting even wider global recognition.
An introduction to BRIDGEi2i - Analytics Solutions company focused on solving complex based problems based on data mining and advanced analytics on big data. Visit http://www.bridgei2i.com
This presentation was part of the talk delivered by T Ashok Founder & CEO STAG Software at the HSTC 2013: "Think Testing" Conference on Nov 21 & 22 at Hyderabad.
Business Intelligence And Business Analytics | ManagementTransweb Global Inc
Business Intelligence is the initial basic step of Business Analytics. It refers to gathering raw and complex data, and converting it into systematic and logical information in a format that is usable by the end user. Copy the link given below and paste it in new browser window to get more information on Business Intelligence And Business Analytics:-
http://www.transtutors.com/homework-help/management/managing-information-technology/business-intelligence-analytics/
Session about types of analytics. Descriptive, diagnostic, predictive and prescriptive analytics.
Conference DATA ANALYSIS DEVELOPMENT 2016 by RZECZPOSPOLITA.
An overview of different stages of analytics and various cloudstack concerns were discussed. Cloud Optimisation, Cost Optimisation, Monitoring, ChargeBack and Billing were demoes part of this session.
How to extend the prescriptive analytics onto container, docker technologies is an interesting piece of presentation.
Try ActOnCloud Free at www.actoncloud.com
or write to insights@actonmagic.com for personalised demo.
Big Data Day LA 2016/ Use Case Driven track - Shaping the Role of Data Scienc...Data Con LA
At IRIS.TV, our business builds algorithmic solutions for video recommendation with the end goal to deliver a great user experience as evidenced by users viewing more video content. This talk outlines our reasons for expanding from a descriptive/predictive approach to data analytics toward a philosophy that features more prescriptive analytics, driven by our data science team.
Joining the Club: Using Spark to Accelerate Big Data at Dollar Shave ClubData Con LA
Abstract:-
Data engineering at Dollar Shave Club has grown significantly over the last year. In that time, it has expanded in scope from conventional web-analytics and business intelligence to include real-time, big data and machine learning applications. We have bootstrapped a dedicated data engineering team in parallel with developing a new category of capabilities. And the business value that we delivered early on has allowed us to forge new roles for our data products and services in developing and carrying out business strategy. This progress was made possible, in large part, by adopting Apache Spark as an application framework. This talk describes what we have been able to accomplish using Spark at Dollar Shave Club.
Bio:-
Brett Bevers, Ph.D. Brett is a backend engineer and leads the data engineering team at Dollar Shave Club. More importantly, he is an ex-academic who is driven to understand and tackle hard problems. His latest challenge has been to develop tools powerful enough to support data-driven decision making in high value projects.
From Digital Analytics to Insights: Data-Driven Decision Making & Changes in Consumer Trends to Effectively Develop Below-the-Line Campaigns / Guest speaking on Nov 25, 2015 at Asia Business Connect's Conference on
"Effective Below-the-Line Marketing Strategies"
This presentation introduces big data and explains how to generate actionable insights using analytics techniques. The deck explains general steps involved in a typical analytics project and provides a brief overview of the most commonly used predictive analytics methods and their business applications.
Vijay Adamapure is a Data Science Enthusiast with extensive experience in the field of data mining, predictive modeling and machine learning. He has worked on numerous analytics projects ranging from healthcare, business analytics, renewable energy to IoT.
Vijay presented these slides during the Internet of Everything Meetup event 'Predictive Analytics - An Overview' that took place on Jan. 9, 2015 in Mumbai. To join the Meetup group, register here: http://bit.ly/1A7T0A1
The new ‘A and B’ of the Finance Function: Analytics and Big Data - -Evolutio...Balaji Venkat Chellam Iyer
Published in 2013, this White Paper discusses how the finance function would evolve with the combined forces of Big Data and Analytics and the levers that could help catalyze the change and has drawn upon the Global Trend Study conducted by Tata Consultancy Services (TCS) on how companies were investing in Big Data and deriving returns from it.
The results of our latest study on ‘Smart data transformation,’ carried out with Fraunhofer FIT, are here. In this special research report, we wanted to understand the business benefits, challenges and success factors around this topic, as well as identify key needs to facilitate the effective implementation of smart data transformation.
Enterprise Fusion: Your Pathway To A Better Customer ExperienceCognizant
In June 2018, Cognizant commissioned Forrester Consulting to test the hypothesis that digital transformation will succeed best when two conditions are met.
Big & Fast Data: The Democratization of InformationCapgemini
Moving from the Enterprise Data Warehouse to the Business Data Lake
Is it possible that ubiquitous analytics represents the next phase of the information age? New business models are emerging, enabled by big data that business leaders are eager to adopt in order to gain advantage and mitigate disruption from start-ups and parallel industries. The winners are likely to be those that master a cultural shift as well as a technology evolution.
Our view is this will be realized through the alignment of a business-centric big data strategy, combined with democratization of the analytical tools, platforms and data lakes that will enable business stakeholders to create, industrialize and integrate insights into their business processes.
Innovative approaches are needed to free up data from silos whilst encouraging both the sharing and the continuous improvement of insights across the business. While it will be evolution for some, revolution for others; the risk of status quo is not just the loss of opportunity but also a widening gap between business and the internal technology functions.
https://www.capgemini.com/thought-leadership/big-fast-data-the-democratization-of-information
Leading enterprise-scale big data business outcomesGuy Pearce
A talk specially prepared for McMaster University. There is more benefit to thinking about big data as a paradigm rather than as a technology, as it helps shape these projects in the context of resolving some of the enterprise's greatest challenges, including its competitive positioning. This approach integrates the operating model, the business model and the strategy in the solution, which improves the ability of the project to actually deliver its intended value. I support this position with a case study that created audited financial value for a major global bank.
Enterprises face unprecedented challenges, and finance is at the epicenter. Increasing business risk and volatility are evidenced by accelerating business disruption through
disintermediation, virtualization and technical innovation. As a result, new competitors, changing business models and changing customer expectations have emerged.
With a fundamental shift in the CFO mission, the finance function has become a critical change agent across organizations. The role of financial leaders such as CFOs is evolving, from a traditional financial controller, to one that drives performance improvements across the organization.
Bardess Moderated - Analytics and Business Intelligence - Society of Informat...bardessweb
Joe DeSiena, President of Bardess Group Ltd moderated a panel of Information Technology executives titled Analytics and Business Intelligence for the chapter meeting for the New Jersey Society of Information Management.
Driving A Data-Centric Culture: The Leadership ChallengePlatfora
Embracing data as a corporate asset—and a source of competitive advantage—is not just a “good idea” that companies should consider. Such adoption will help determine the winners and losers across multiple markets and industries in the future.
In the last couple of years, corporate focus has shifted: first, from investing in the right technology and tools; then to acquiring the right talent and skills; and now to building the right organizational culture that can realize the business value of powerful big-data analytic tools.
Most organizations today are still focused on putting in place the right technology and talent, but others have evolved further and are working toward fostering a data-centric corporate culture.
Similar to Predictive and prescriptive analytics: Transform the finance function with groundbreaking decision support (20)
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
GT Events and Program Guide is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
GT Events & Program Guide: ForwardThinking October/November 2017Grant Thornton LLP
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Real Estate Industry Success: Build, Transform and Protect Value into 2020Grant Thornton LLP
REITS are finding that while online shopping is active, their real estate holdings — stores and malls — continue to draw actual shoppers. Most sales still take place in brick-and-mortar, with technology shaping retail and real estate success.
Asset Management Industry Success: Build, Transform and Protect Value into 2020Grant Thornton LLP
Though hedge fund volume has doubled in the past five years, fees are pressured down; responsive strategies to replace fee dependency include expansion — M&A, joint ventures and alliances.
Technology Industry Success: Build, Transform and Protect Value into 2020Grant Thornton LLP
Technology leaders are making bold decisions and reinventing their company, exploiting innovative technologies, sharpening a competitive edge, investing significantly in R&D, embracing a new business model and taking a more strategic view of risk.
Banking Industry Success: Build, Transform and Protect Value into 2020Grant Thornton LLP
Banking leaders say their focus on customer service will double between now and 2020, becoming their No. 1 priority in an increasingly competitive environment.
GT Events & Program Guide: ForwardThinking August/September 2017Grant Thornton LLP
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
Why prepare now? 5 things that smart businesses are doing TODAY to prepare fo...Grant Thornton LLP
Tax reform is top of mind for many of today’s businesses as they struggle to understand what it might mean to them, and what they should be doing to prepare. While it may be easy to be paralyzed by the uncertainty of the legislative process, a “wait-and-see” approach is a mistake. The prospect of tax reform creates tremendous new tax planning opportunities, and many of these are effective only if done before tax reform is enacted. No company should be making long-term business decisions without understanding how tax reform could affect the economic impact. Learn the five steps your business can take now to prepare for tax reform.
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
The Future of Growth and Industries Webcast Series: Trends to watch for 2020Grant Thornton LLP
An analysis of future challenges across industry based on recent research. The presentation features technology disruption and internationalism as key themes.
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
The Future of Industry: Sector Convergence & 2017 OutlookGrant Thornton LLP
What is the future of industries? How should we respond to the opportunities and challenges presented by this disruption? Every industry is being disrupted by fast-paced change on many fronts. In this deck, Grant Thornton industry leaders explore cross-industry issues and potential solutions to support your business in this ever-changing world.
ForwardThinking is a look ahead at the latest knowledge and insights available from Grant Thornton LLP. It includes a collection of our research, thought leadership and a schedule of upcoming webcasts and events.
DOL fiduciary rule: How it affects the insurance industry Grant Thornton LLP
We explore how the Department of Labor's final rule expanding the definition of fiduciary investment advice for advisers to retirement plans, participants and beneficiaries will affect the insurance industry.
Tightening pressure transforms the landscape: The state of asset managementGrant Thornton LLP
After years of growth, asset managers face a number of challenges. Here, we examine these challenges and provide insight into the state of the asset management industry.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
Predictive and prescriptive analytics: Transform the finance function with groundbreaking decision support
1. Predictive and prescriptive analytics
Transform the finance function with
groundbreaking decision support
an affiliatfei noafn cial executive
2. Contents
3
Executive summary
4
Introduction
6
Analytics and transforming the finance function
9
Case studies in predictive and prescriptive analytics
9
SBV Services (Pty) Limited
12
Large consumer packaged goods company
15
Cox Industries
18
Encore Enterprises Inc.
20
Conclusion
21
About the authors
Contributors
Thomas Thompson Jr.
Senior Associate, Research
Financial Executives Research Foundation
Philip Higginbotham
National Director of Analytic Solutions, Business Advisory Services
Grant Thornton LLP
3. Executive summary
We hear the term “big data” thrown around so much that it is difficult to imagine that prior to the mid-’90s, few businesses even knew what it meant. In case you’re still unsure, big data is any collection of data sets so large and complex that it is difficult to analyze using traditional data processing applications.
All companies should address data challenges to support decision-making or risk falling behind. Businesses are collecting, storing and analyzing more data than ever before, and the trend is continuing to gain momentum. However, it’s not who has the most data that wins. “There is a big data revolution,” says Gary King, director of Harvard University’s Institute for Quantitative Social Science. But it is not the quantity of data that is revolutionary. “The big data revolution is that now we can do something with the data.1”
Since much has been written about descriptive and diagnostic analytics, we will focus on predictive and prescriptive analytics — technologies that will transform the finance function by providing forward-looking insights; aligning the enterprise to the optimal course of action; quantifying trade-offs fast and with a low cost of ownership; and increasing the ability to communicate and collaborate across functions. These transformative characteristics will lead to significant performance improvements.
Companies are already harnessing these technologies to predict trends and prescribe the proper course of action to optimize the enterprise’s core objective (e.g., profits). In this report, we’ll highlight insights derived from in-depth interviews with senior- level executives conducted by Financial Executives Research Foundation Inc. (FERF) and Grant Thornton LLP. The four case study organizations cited in this report use advanced analytics in their businesses, and are gaining significant profit improvements.
Some key findings include:
•
The knowledge economy is here. While technology alone doesn’t give you much, when combined with the knowledge of your people, it is a powerful enabler.
•
The speed of change is increasing. Prescriptive analytics helps finance leaders and their companies react quickly to proactively shape desired outcomes.
•
Information for information’s sake isn’t any good if it doesn’t provide actionable, forward-looking insights.
•
Predictive analytics answers what will happen, while prescriptive analytics quantifies trade-offs using optimization to answer what-if scenarios. Used in combination, these practices yield maximum benefits at the enterprise level.
1 Shaw, Jonathan. “Why ‘Big Data’ is a Big Deal,” Harvard Magazine, March-April 2014.
4. 4 Predictive and prescriptive analytics
Introduction
The category of business intelligence (BI) began gaining traction at the millennium. It is defined as all investments required to move data and automate reporting. However, the data being analyzed is backward-looking, while decisions are always about the future. Analytics became significant as technologies were introduced to bridge that gap, providing forward-looking information. Analytics is the high-value content delivered over the BI technology infrastructure.
According to Gartner, predictive and prescriptive analytics will be incorporated into less than 25% of business intelligence/ business analytics projects, but will deliver at least 50% of business value.2 Combining business and financial modeling and statistical/optimization techniques will create a new generation of analytic solutions.
The transformative nature of this next analytics revolution is the ability to couple predictive technologies with prescriptive technologies. Prescriptive technologies, such as advanced modeling and optimization software, are currently present in approximately 3% of companies.3 However, there are several factors driving an acceleration in adoption:
•
The computer-intensive processing required for optimization has traditionally been associated with very long solve times, but with advances in hardware, it is now near real-time and easily available at low cost through cloud service providers like Microsoft and Amazon.
•
With enhanced prescriptive architectures, the creation and maintenance of business rules is much less expensive and time-consuming, which leads to broader adoption across all planning cycles.
•
The effort is now business-driven, not IT-driven. The content has to reside with the knowledge workers and those that have a good understanding of where major payoffs can be found.
In a recent white paper, Grant Thornton Principals Anthony Hernandez and Kevin Morgan echoed these points. “The science of business analytics has and will continue to evolve at exponential speeds. This evolution is due to: (1) the availability of more and more data, and (2) the increasing strength and computing power of the various tools and capabilities.4” Given this environment, advanced analytics will differentiate companies in the marketplace. “Those who do not integrate advanced analytics in their everyday operations run the risk of falling behind their competition.”
2 Rayner, Nigel. “Next-Generation Analytics Will Impact Business Decision Making,” Gartner, Sept. 18, 2013.
3 Van Rijmenam, Mark. “Understanding Your Business with Descriptive, Predictive and Prescriptive Analytics,” BigData-Startups, Sept. 11, 2013.
4 Hernandez, Anthony, and Morgan, Kevin. “Prescriptive analytics: Winning in a competitive environment,” Feb. 20, 2014.
5. The timing of these innovative breakthroughs in prescriptive technologies is appropriate given the current business environment. In a hyperconnected world with increasing volatility and shorter life cycles, with data projected to grow by a factor of 44 from 2009 to 2020, traditional business decision- making models cannot keep up.5 Companies must move from basic analytics on the lower end of the maturity scale to advanced analytics (predictive and prescriptive) — a much more sophisticated form of analytics that provides insights not previously possible.
Typically determined during the basic analytics phase, the ownership of a company’s data may fall to any number of functions, such as IT or finance. However, the processes involved in the collection, assimilation and reporting of data generally fall to the finance function, given their expertise in control processes and responsibility for communicating performance to all stakeholders. Therefore, the CFO plays an integral part in a company’s analytics.
5 Gantz, John, and Reinsel, David. “The Digital Universe Decade: Are You Ready?” IDC, May 2010.
We explored predictive and prescriptive analytics in place with four companies and discovered significant benefits:
•
A one-time decrease in costs from ZAR900 million to ZAR600 million (an approximate decrease of $28 million) due to fundamental changes in South African Federal Reserve cash management policies supported by an advanced analytics solution
•
ZAR70 million to ZAR90 million ($6.5 million to $8.4 million) in recurring savings due to improved planning
•
Discovering a $1 million per year savings by reallocating production of a product line with no additional capital required
•
Quantifying the marginal value of a constrained in-house process (over $1,000 per hour) and changing outsourcing policies to capture that value and become more profitable
•
Negotiating with an understanding of quantified positions — both financially and operationally — from a single, integrated model
These case studies demonstrate the profound effect analytics has had — and will continue to have — on the enterprise, and how the finance function has been able to dramatically improve performance as measured by more efficient operations, improved returns on allocated capital and increased profitability.
“Those who do not integrate advanced analytics in their everyday operations run the risk of falling behind their competition.”
6. 6 Predictive and prescriptive analytics
Analytics and transforming
the finance function
The finance function creates value by accurately quantifying financial health and allocating scarce capital to meet the organization’s objectives. According to Financial Executives International’s (FEI) most recent CFO Quarterly Global Outlook Survey, 89% of U.S. and European CFOs say their finance division/function consistently provides useful information for making critical business decisions.6 However, the latest technological innovations have left financial executives facing deficiencies in decision support:
•
Data gathered from source systems used in decision-making is backward-looking.
•
Decision-making is silo-based and supported by silo- based technologies.
•
Planning is sequential. At the strategic level, you start with a financial model and translate to operations and demand. At the operational level, you start with demand and translate to operations and financials.
With the ability to dynamically model the entire business, these shortcomings are erased, providing the opportunity to optimize the enterprise and significantly improve performance.
For example, what is your company’s hurdle rate for investing in new projects? What is your company’s overall return on equity? For most companies, there is a significant difference between these two numbers — the hurdle rate being much higher than the actual return on capital. This happens because capital projects are analyzed in isolation, while constraints that impact the decision are left out or ignored; the supporting technology is not robust enough to provide a holistic perspective. We now have the ability to represent these constraints and understand the unintended consequences before the decision is made.
With predictive and prescriptive analytics, the holy grail of business planning has arrived. We can now deliver high visibility into the business, the ability to predict change and the agility to react. These forward-looking insights and the ability to quantify trade-offs realistically drive strategy. Advanced analytics provides financial executives with the tools to transform their value to the business. It is a game-changer.
6 Thompson, Thomas. “CFO Quarterly Global Outlook Survey,” Financial Executives International, July 1, 2014.
7. Visibility into the business
If a plane takes off from London’s Heathrow Airport bound for Dallas/Fort Worth International Airport and is one degree off course, the plane will land in Mexico City. More than 90% of planes are at least one degree off course, yet they land where they intended to go. How? The pilots’ knowledge, combined with technology, provides them with the visibility of where they were, where they’re going and how to get there. They possess the knowledge and agility to self-correct when and as needed.7
Companies that can successfully utilize advanced analytics, such as those highlighted in our case studies, gain the visibility required to rise above their competition.8 That visibility goes beyond the income statement, balance sheet and cash flow statement. It also goes beyond the numbers required to manage the business effectively — the fixed and variable costs and contribution margin of products or services. It is a combination of quantifying the contribution margin and understanding how changes to the fixed costs and variable costs structure of the business impact the income statement, balance sheet and cash flow statement before action is taken. “With the appropriate framework to shape financial knowledge, the management accounting function should become an organization’s principal decision-support platform.9”
The melding of structured and unstructured data from various systems companywide into a single source of truth is a challenge for senior-level financial executives. An even bigger challenge is knowing what data is required to support decisions and what is just collected and stored. The vast ocean of data becomes manageable when this distinction is identified. Because a prescriptive model is a dynamic mathematical representation of the business to support decisions, by definition, the model itself will make this distinction. The benefit is a simplified world, with the enterprise focused on tracking important data — ignoring data that does not inform decision-making — and knowing the difference.
7 Srinivas, Srikanth. “Effective Performance Management,” Journal of Business Logistics, Vol. 30, No. 2, 2009.
8 Hernandez, Anthony, and Morgan, Kevin. “Prescriptive analytics: Winning in a competitive environment,” Feb. 20, 2014.
9 Manners, George E. “Six Levels of Financial Knowledge,” Strategic Finance, August 2006.
With predictive and prescriptive analytics, the holy grail of business planning has arrived. We can now deliver high visibility into the business, the ability to predict change and the agility to react.
8. 8 Predictive and prescriptive analytics
Predictive insight
The value of all this big data is drawing a deeper understanding of the behavior of something important to your business and what that behavior may look like in the future. The most common example is the demand for products and services. Others include understanding how the price of oil impacts mode of distribution, or how weather patterns might impact premiums for an insurance company heavily invested in agriculture in the Midwest or home insurance in Florida. You gain these insights through statistical modeling that draws on the power to analyze trends, relationships and drivers. The result is some level of confidence in understanding how an important variable to your business will trend in the future.
Prescriptive course of action
Now that we have predictive insight, what course of action should be taken? For some companies, this is a billion-dollar question. Most businesses are a complex set of nonlinear relationships with constraints across demand, supply and financials. Senior management’s job is to gain clarity and determine the actions to be taken at all levels. They must determine where to allocate capital; decide which products to fund and cut; establish policies across the business; and create operational schedules. These actions all have the same purpose — to maximize the company’s primary objective.
Prescriptive analytics is not statistical modeling; it is deterministic. The purpose is to quantify trade-offs and understand the impact of various positions before action is taken. With the ability to apply optimization to these scenarios, finance executives can discover significant value.
As River Logic President Carlos Centurion points out, “Companies gain tremendous value when applying prescriptive analytics to make better decisions. First, users gain accuracy by modeling business processes and constraints in greater detail. Second, the decisions improve as the software will deal with complexity to find a better answer and support what-if analyses. Finally, the business gains agility by spending time analyzing only the best scenarios and through deeper organizational learning.10” These themes — accuracy by modeling, software to handle business complexities and business gains by analyzing best scenarios — are central to an organization’s finance function. Other departments often look to the finance function for its expertise in these areas.
10 Centurion, Carlos. “Enterprise Optimizer: Next Generation Prescriptive Analytics,” November 2013.
9. SBV Services (Pty) Limited
Case studies in predictive and prescriptive analytics
“There is a significant amount of total cash in circulation, of which approximately 12% is held in the SBV cash centers. Bear in mind that the South African rand is also widely used in three or four of our neighboring countries,” Schubert says.
SBV’s objective is to store cash at the lowest possible cost and simultaneously ensure the correct supply of notes in all denominations across all geographies. This means managing complex cost trade-offs between funding, logistics, processing and storage, insurance capacity, and Central Bank charges. SBV has implemented forecasting and business optimization technologies to create a planning platform for the South African cash management industry.
Issues
If the velocity of cash — or how quickly the money moves — is slow, the company will need to introduce new notes into circulation. “What SBV strives to do is keep the notes in circulation to a minimum,” Schubert explains.
The movement of cash from urban economic hubs to rural areas is another problem. “For example, a significant amount of income is generated in the country’s main economic hubs and then taken back to the rural areas where it is spent. Now that the cash has shifted to rural areas, you end up with a surplus of notes in those locations. SBV then has to take that money back from the rural areas to the economic hubs, so the environment is hugely complex and the costs associated with getting it wrong are very high,” Schubert says.
“Cash is a very cyclical business,” according to Carsten Schubert, head of consulting and solutions at SBV Services. SBV is South Africa’s largest cash management service provider and is jointly owned by the country’s four major commercial banks.
•
Cash supply industry
•
Established in 1986, jointly owned by four major banks
•
Financially optimized output transformed planning across the business
•
Improved planning processes saved ZAR300 million per year
10. 10 Predictive and prescriptive analytics
Solutions
SBV’s technology motivations are essentially needs-driven. As Schubert explains, “When you get to a point where there is too much complexity for manual processes, you need to look at introducing new technologies to automate processes and simplify things.”
Currently, SBV uses an accounting system called CISPro and vault management technologies, using a “best of breed” approach. The company utilizes a fourth-party logistics provider cash planning platform developed by Business Modelling Associates (Pty) Ltd (BMA) in combination with the Prophecy Forecasting tool developed by BMA and Automatic Forecasting Systems Inc.
“Typically, we have a forecast and the next thing we need to apply is the inventory on a daily basis. We use the Supply Planning Workbench (SPW) to obtain our inventory position and Prophecy Forecasting to forecast for three months. Then there are a myriad of scenarios and constraints that you need to factor in with their associated costs,” Schubert says.
“At the heart of the planning platform, the SPW uses River Logic’s Enterprise Optimizer (EO) to prescribe movements and balance activity — deposit this cash in that vault, take this cash to that cash center, for this denomination the best place to get it is the cash center down the road or the Central Bank, etc. So EO manages all those trade-offs and provides the best recommendations,” explains Schubert.
“In my view, forecasting is the predictive side where we’ve got forecasts based on history per denominations, channel and customer, and within that we’ve got to apply certain parameters to try and get each one on the predictive side as accurate as possible,” he says.
“Once we are happy with the forecast, we’ll then put it through the SPW, which will prescribe to us what we should be doing,” states Schubert. “Obviously the more accurate our forecast, the better the input into the prescriptive tool will be. The interdependency between these two predictive and prescriptive modules is key. If the forecast is very bad, the confidence level in the output of the plan will be equally low.”
“Incorporating predictive and prescriptive technologies into the business has been a challenging yet rewarding journey.”
11. Results
Incorporating predictive and prescriptive technologies into the business has been a challenging yet rewarding journey, says Schubert. “On the predictive side, we took actual data going back 18 months from the enterprise resource planning (ERP). The data was initially quite difficult to analyze and came from multiple sources. We then created what we call a ‘sandbox environment,’ where we can evaluate different forecasting techniques and methods to certain product streams and apply different parameters until we find the best-fit parameter to apply to the specific denomination within a channel or customer.”
As for the prescriptive side, “We took our SPW, and starting from scratch at one cash center, we began to understand the cash flow process. We then represented these product flows, costs, and business and operational constraints in an EO model. We were then able to replicate this across all the other cash centers. We’ve now successfully operationalized our plan and it is run though the SPW daily.”
The key for SBV was the realization that “technology on its own doesn’t give you much more than sophisticated decision support and the ability to rapidly consider the impact of alternative scenarios; it’s an enabler. Having people on board who fundamentally understand your operations and business is critical,” Schubert says.
Value
The value of the cost savings derived from these supporting technologies has been significant. “At a gross level, we’ve changed the operating model with the Central Bank and convinced them of the capability of the advanced planning platform that we’ve got in place. The Central Bank used to be actively involved in the cash supply chain, which required us to deposit notes with them at quite a high cost,” Schubert explains. “As an industry, we’ve proved that with a cash-planning platform in place, we could successfully manage the notes in circulation without increasing them. For that, the Central Bank took a less active role in the cash supply chain and allowed the industry to continue with that process.”
He continues, “That process saved effectively ZAR300 million per year on a spend of about ZAR900 million annually. If you add in the fact that the Central Bank has dropped some prices and fees — one could argue that they wouldn’t have done that if they didn’t have the confidence that we could manage the cash supply chain — that brings in an additional ZAR70 million to ZAR90 million in annual savings.”
It is difficult to identify and assign all the monetary value because of the size and complexity of the entire industry. SBV originally implemented this solution to help manage its own business. The banks have subsequently decided that given the strategic importance of the platform, they will position it in a different entity, now known as CashLogix, which will be owned and operated by the industry but still from within the SBV business unit.
12. 12 Predictive and prescriptive analytics
Large consumer packaged
goods company
Case studies in predictive and prescriptive analytics
“We do have a fairly robust internal IT department, and a number of our applications are written internally,” the VP says. “Over the past several years, we’ve been re-engineering our basic order fulfillment process of how finished goods flow through the system, and have written a very complex system to manage that flow from production through making sure that product gets where it needs to be in a timely manner.”
The company’s sales and operational planning analyst adds, “Business analytics is really my role — from the data collection and organization, gaining insights about the data, and a deeper understanding beyond sums and averages. I am also doing goal modeling and prescriptive modeling. I provide deeper insight and incorporate the learnings into best practices.”
Issues
According to the VP, customer service, costs, and forecasting demand or inventory management are current issues for the company.
When asked about concerns with decision-making today, the VP responds, “Ten years ago I would have said not enough data, but today it’s the ability to effectively use all the data we have now. There are so many opportunities with the data, but we don’t always have the ability to effectively turn that data into actionable information.”
This is a two-part issue: The first component is using descriptive and predictive analytics to summarize and correlate data and turn it into valuable information. The second part is how many additional decisions and trade-offs the information brings to light, and how to make optimal decisions across large, detailed sets of information that can change daily.
The analyst adds, “Today, what business analytics is doing is letting us say, ‘Forget about asking the right question.’ If we have the right data and perform the right analysis on it, let the data speak to you and tell you where you should go. Do not let the data prove a point, but let it speak for itself. We are starting down a very new path with respect to analytics.”
•
Privately held, 70-year-old family company
•
Decision-making at the margin led to significant profit improvement
•
Potential $1 million per year savings uncovered
At this family-run company, business analytics is supervised by the vice president
of planning. He also oversees the supply chain, logistics, managerial accounting and demand planning.
13. Solution
This company has had an extremely positive experience with technology. The VP says, “One of the things we did back in the ’80s when all of these big ERP systems were coming out was to make the decision to go down the path of ‘best of breed.’ That created some opportunities and some challenges in terms of our data being scattered across disparate systems. It also gave us the opportunity to structure the data in data warehouses the way we wanted to so we could use some new technologies, such as River Logic’s Enterprise Optimizer.” The company looked at software that would support their business processes instead of fitting their business processes to existing software.
He continues, “We have lots and lots of data, but the ability to go through that data quickly, to be able to glean valuable business insights out of that data is what’s pushing us in that area. We’ve been using some of those prescriptive models for a number of years now, and it has gone from being a tool we used to analyze things to becoming embedded in our everyday processes. We routinely run a couple optimization models a day to make business decisions, and that’s all automated. When I see an opportunity for the new technology to help us answer a business question better, faster and more reliably, that’s what has pushed us into predictive and prescriptive analytics.”
In addition to using EO, the company still uses “everyone’s favorite analysis tool: Excel.” The analyst says, “I’ve used some of the regression analysis tools in Excel, and we do have smart forecasts as far as time series data for predictive analytics. Right now, we are using SAS for predictive and Enterprise Optimizer for prescriptive.” The analyst is also exploring IBM’s SPSS modeler application and R programming environment.
Predictive analytics has provided the company with the “ability to ask more questions of your data in more ways than traditional analytics,” says the analyst. ”We have decision trees and neural networks and all the different ways we can apply models to data to gain insights and see hidden patterns.”
Prescriptive analytics has helped the company “leverage business insights to achieve business goals in a formal way.”
14. 14 Predictive and prescriptive analytics
Results
According to the vice president, “These technologies really change people’s jobs from scheduling production to making sure that the environment in the decision model reflects reality so that you’ll have confidence in the schedule it puts out. It’s a very big shift in what those people are used to doing, and to some degree a change in the skills they need to be successful.” Expertise is being redefined from being able to quickly develop a good schedule based on knowledge, skill and experience, to being able to support a decision model and its data needs to make optimal decisions.
The VP adds, “I just can’t overemphasize the importance of good data. If somebody doesn’t have reliable data in the structure and the format that’s needed to be consumed by these sophisticated tools, they are wasting their time and their money going down that path until they clean up their data and are comfortable with it.”
Value
“I personally feel what is most valuable is the ability to make better decisions and gain new insights, but those are also the most difficult to define upfront. It’s hard to define what you don’t know,” the VP notes. The journey of data validation, model design and model validation each provide value beyond the completed model.
“For example, the very first model we ran with EO was looking at where products are made and consuming that managerial accounting variable cost data. It showed us very quickly that we could save roughly $1 million per year if we quit making one of our products in one plant and moved it to another plant, made it there and transferred it back to the original plant.”
The analyst adds, “Another key to the process is involving all those business experts and creating a model to define what’s important, where your data is coming from, how you define your data, etc. Even for the people that have been doing it, it just raises the bar in the organizational level of knowledge around that activity.”
The return on investment seems immeasurable. The VP says, “I don’t know that in hard terms. When I look back to where we were maybe 10 years ago, our ability now to put together good plans in an efficient, timely way and make better decisions is light- years ahead of where we were. We wouldn’t be close to where we are without that technology.” The company has incorporated decision modeling into tactical and strategic decision-making to such a degree that it has culturally changed how it approaches its most challenging problems.
“When I see an opportunity for the new technology to help us answer a business question better, faster and more reliably, that’s what has pushed us into predictive and prescriptive analytics.”
15. Cox Industries
Case studies in predictive and prescriptive analytics
Issues
In the pressure-treated wood manufacturing industry, Yaun sees these top three issues:
1.
The ability to be agile: The financial crisis and housing downturn taught the company very quickly that the ability to scale your business down in a high fixed-cost business is not always easy.
2.
An aging labor force: One-quarter of Cox’s force is over 55 and the company has a high turnover rate with new hires. Should these jobs be automated? What can Cox do to keep employees interested and engaged?
3.
The increase in regulations: The current regulatory environment is absolutely staggering and one of the reasons Yaun has his role. The amount of regulations doesn’t translate into any added value.
“We’ve been talking about this for years, but everyone has to be able to deal with change. The resounding theme these days is the speed of change. Whether that’s regulation or business environment — I don’t think anyone would have predicted the rate of collapse of the housing market and the speed at which it did so,” Yaun says. “Luckily, before that we had already started on 10%, 20%, even 50% revenue reduction plans. Within a matter of weeks of those estimations, we were executing on them.”
As the speed of change continues to accelerate, it is essential for companies to stay agile so they can remain ahead of the curve and make quick, informed decisions.
Matt Yaun is the chief administration officer at Cox Industries, and he oversees all enterprise-wide functions. He has been with the company for eight years, the first five years in sales and marketing. His role changed recently when the company reorganized its two main business units.
•
Lumber treatment industry
•
Privately held, family-owned business
•
12 facilities
•
Realized savings of over $1,000 per hour
16. 16 Predictive and prescriptive analytics
Solution
Cox Industries is focused on innovation, and technology is a huge part of that initiative. Its quest for technology is driven by the need to innovate.
Yaun notes, “We’ve experienced a period of pretty rapid growth in the last five to six years, and we’ve had to embrace technology quite dramatically in the last few years. We came to the realization that we just really didn’t have good data. We couldn’t trust it and it just wasn’t valid. If you don’t believe your speedometer, it’s kind of hard to tell how fast you’re going. So when we started looking at this Enterprise Optimizer journey, we started looking at the data and realized we couldn’t answer many of the questions. That gave us pause, and we went back to square one.”
Cox Industries has an industry-specific ERP called LumberTrack and uses Great Plains for the financials. The company is currently going through a version upgrade. “That is really our base system of record for our entire inventory. Once we put that in, figured it out and started growing with it, we determined it had some pretty big shortcomings,” Yaun says.
The primary shortcomings were the ability to analyze inventory and the need for customer relationship management. The company recently finished developing its own proprietary treating software. Additionally, it has a very robust Web
portal that allows its dealers to place orders. The orders automatically feed the ERP, which provides pricing and analytics to customers.
Recently, Cox has been doing more sophisticated what-if modeling. “EO really allows us to do that prescriptive work and what-if analysis. For me, predictive is pretty basic. When we talk predictive we’re taking historical data and applying some sort of macro or best-case rule on top,” explains Yaun.
“Now prescriptive is trying to make judgment calls based on trend changes. There’s a lot of talking to your customer base and understanding the market and market analytics. That’s where we use the what-ifs in EO. So what if our product mix or customers change? What does that do to our margins or volume requirements?”
Regarding data quality, Yaun says, “We have excellent data that is validated quite frequently. We’re pretty darn good now; for certain given volumes and certain given market conditions, we could probably predict within 5% of what we’ll make. We’ve really shifted to where someone sees something in our metrics or data that doesn’t make sense and alarm bells go off and people ask questions quickly. That visibility on the data throughout the organization has really helped avoid the big problems.”
Yaun continues, “In the initial models we’ve run just in the last few weeks, we’ve identified a 30% increase in profitability. We need to validate the findings, but even if I’m half wrong, it will still be a 300% return on building the prescriptive EO model.”
“In the initial models we’ve run just in the last few weeks, we’ve identified a 30% increase in profitability. We need to validate the findings, but even if I’m half wrong, it will still be a 300% return on building the prescriptive EO model.”
17. Results
“I wish I could give you a multimillion-dollar success story right now, but we just identified where those successes are, so now the question is can we go do it and realize it?” Yaun asks.
In 2009, Cox implemented some of its biggest technology initiatives. As the company began to change to an enterprise mindset, it required a lot of data to be shared across many departments so that decision-making could be brought down to a lower level. This way of thinking has made a big difference in the organization.
Optimized use of these technologies took time. Yaun explains, “After you pass the adoption hurdles, you need to have a clear business goal in mind. When everybody got new information, I had a thousand requests for reports. We spent all this money for a customized report, but people weren’t making faster decisions. Now, we have a stringent vetting process of understanding the true business need for that data request and what decision is going to be made with that information.”
Value
To measure value, Yaun says, “We normally have an effectiveness or efficiency metric involved in this. Again, what’s the business goal? Did it do what it was supposed to do?”
For example, the company owned its own peelers, so it would buy logs and bring them in for peeling. “We’ve always done some peeling, but we used to peel about 25% and then source the rest. As we started using EO, we performed analytics on statistical yields and standard distribution of a ton of a particular ‘barky’ from a particular vendor,” Yaun says.
"We realized that in certain areas we could peel certain profiles way cheaper than in other areas. What we came to realize is that we needed to peel. Now we are peeling 81% in-house. That move from a 20-80 to an 80-20 split has made an incredible difference in the profitability of that business unit. Year over year we have increased the profitability of our industrial business by 14%, primarily due to a new focus on our peeling resources,” according to Yaun.
“We are now getting more constraints in the model, but EO gives us an opportunity value (defined as a fully constrained marginal value) for the next hour of production at that particular bottleneck. That was one of the first ‘ahas.’ When we first ran the model, bar none one of the biggest opportunity values that popped out was peeling. We thought we had a mistake, so we went back and did the analytics on the yields and understanding everything. It said another hour of peeling is worth $1,047 to the company.”
After that, the company bought two more peelers. It changed the way the company allocates capital. “We began to understand the level of value we could create in that process,” Yaun explains.
“Opportunity values help us define where the next lean project is going to be. When that complex analysis tells you something that you don’t believe, that’s usually one of the best lessons. Then you can go disprove it or find out why it really is true. That has been extremely valuable to us from a margin and profit perspective,” Yaun says.
18. 18 Predictive and prescriptive analytics
Encore Enterprises Inc.
Case studies in predictive and prescriptive analytics
Issues
The herd mentality is the overall biggest issue in real estate. “When the market is good, everyone rushes in. The mid-2000s real estate boom was a good example of how the market bubbles up,” Shetty explains.
“We’ve never been able to cure the cyclicality as an industry. When we start to see people rushing into the market, we look to get out.”
According to Shetty, large organizations are dealing with insecurity about information. “There is no such thing as perfect information, but do we know enough to make good decisions?”
“Our biggest problem is having good data to make investment decisions. As velocity climbs, it’s easy to drink the Kool-Aid and say this looks really good — let’s do it — and not analyze the deal and make sure you’ve covered all the bases,” Shetty warns.
“It’s about getting the right location in the right market at the right time and doing the research. What technologies can we adopt to enable that?”
Solution
Encore made a fundamental decision a few years ago that it was a real estate company and not a technology company, which changed how the company operates.
“We gravitated to the cloud a few years ago so everything we do is on the cloud —our accounting application, HR application, workflow application and point-of-sale application. Even now we are in the midst of deploying a call center where every technology related to the center will be on the cloud,” Shetty says.
“We streamlined our IT staff to one vice president of technology, one manager, one help desk support and a project manager because we are working on a new accounting application. Everything else is on the cloud.”
In terms of predictive modeling, the company does that for each sector. “I can forecast my occupancy for each of my sectors one year into the future. From the prescriptive angle, if I know what my occupancy rate is going to be in the future, I can then compare it to last year and decide if we need to have a special promotion or how we compare to budget,” Shetty says.
“For example, in hotels, the person that books last minute is the most profitable. So we can’t book all our rooms because then we are leaving money on the table,” he explains. “Once we predict our optimal occupancy, we can then leave a percentage of rooms available for last-minute bookings.”
"I review deals for all divisions and act as the financial police and company conscience,” says Mahesh Shetty, COO and CFO. He is responsible for IT, HR, finance and accounting, and is involved in every sector as a board member. “I also mentor other staff around how they want to position deals and the finance structures.”
•
Diversified real estate investment company; each sector is a private company with its own president
•
Shared services for all sectors
•
Analytics drives the company’s deal strategy
19. Encore does a lot of market research and pulls data points from several different sources. “Part of the predictive modeling is understanding what areas of the country are good. We have to map out ahead of time where we are going to start looking at deals, and we came up with 20 markets for each of the sectors. With further analysis, we can drill down to the ZIP code to figure out what’s happening in that market and stay ahead of our competition,” Shetty says.
“The prescriptive part comes in when we look at where we should be next year. This is more of a strategic planning issue. We use a combination of different sources of data to come up with our own proprietary model.”
Shetty continues, “Our technologies support mathematical optimization or what-ifs. For example, we can change the unemployment numbers in the Atlanta area and then rank the markets and see what impact it has on our occupancy rates, etc. It’s a completely dynamic model and we can change it. Predictive and prescriptive go hand-in-hand. If you don’t have the predictive you can’t really do the prescriptive.”
Shetty notes, “One of the things we have not completely gotten rid of in the organization is Excel, which is something I would like to gravitate out of because everybody has their own way of doing things in Excel. If we are going after one version of the truth, then Excel shouldn’t have a seat at the table. We are driving toward everybody on one system looking at the same data points so we don’t have different people coming in with different spreadsheets to the conversation.”
He explains, “It’s not really a data quality issue so much as a process improvement issue. We try to minimize where the human contact with the data occurs and verifying whether or not that process is free of errors.”
Results
Encore’s planning processes are completely integrated and done in the system itself. “Once we have all the information from the sector leaders, we then consolidate that and review the data to help us plan our strategy.”
Shetty continues, “Our data should help us predict how many deals we are going to do in a particular year. We then have a planning meeting with the sector leaders and prepare a budget for the entire company.” The organization depends on finance for the single source of truth, and with predictive and prescriptive analytics, it can deliver that and more.
Shetty specifically notes the importance of providing accurate numbers. “If we are in a meeting and the sector leaders have come up with their own spreadsheet of numbers different from what the finance people have, then the finance function has failed the organization. Period. Having one set of true numbers is a litmus test of how good an organization we are.” Advanced analytics has helped provide reliable information to be able to make fast, informed decisions and help Encore stay ahead of the competition.
Value
Since it has started using these technologies, Encore has been able to generate clear, accurate and timely information with actionable data points. These systems have contributed to improved corporate profitability.
For example, in its hotels and resorts sector, the company can predict occupancy levels and then plan rate strategies to increase occupancy or room rates. Encore can also use future occupancy data to plan workforce utilization to attain standard labor hours per occupied room. In its retail shopping centers sector, the company uses market occupancy data to maximize renewal rates for leases. Data also helps Encore target new tenants.
These technologies have become a significant part of the organization’s operations. They add a much-needed layer of intelligence to financial and operations data, which empowers the users to make informed decisions.
The organization depends on
finance for the single source
of truth, and with predictive
and prescriptive analytics,
it can deliver that and more.
20. 20 Predictive and prescriptive analytics
Conclusion
Employing basic analytics is not enough to keep up anymore
in our information-rich, data-driven environment. Companies
need to understand and implement a more sophisticated form of
analytics to get ahead.
The finance function is in an advantageous place, having already
worked with financial data and reporting. Financial executives
need to employ technologies that support the knowledge worker
by providing forward-looking content that identifies where the
market is going and what actions need to be taken to maximize
profitability. These are the next big innovations.
Big data and predictive analytic solutions alone are not the
answer; companies also need a prescriptive understanding. By
using these complementary tools, a knowledge worker can be
empowered to identify profit-maximizing decisions, understand
trade-offs and improve communications, collaboration and
trust. Financial executives can transform the business — and
their function in it — by making forward-looking, rich content
available for the enterprise’s consumption.
21. About the authors
Thomas Thompson Jr.
Thomas Thompson Jr. is a Senior Associate, Research at Financial Executives Research Foundation Inc., and author of more than 40 published research reports and white papers. He received a BA in economics from Rutgers University and a BA in psychology from Montclair State University. Prior to joining FERF, Thompson held positions in business operations and client relations at NCG Energy Solutions, AXA Equitable and Morgan Stanley Dean Witter.
Thompson can be reached at tthompson@financialexecutives.org or +1 973 765 1007.
Philip Higginbotham
Philip Higginbotham is the national director of Analytic Solutions within Grant Thornton’s Business Advisory Services practice, based in Dallas. Higginbotham has particular experience in helping dynamic companies establish leading-edge prescriptive analytic and modeling capabilities across various industries, including health care, manufacturing, retail and utilities. He also has experience in management and restructuring consulting, assisting in the reorganization of financially distressed companies. Previously, he served as a manager in the restructuring practice of PricewaterhouseCoopers and as a senior consultant in the operations practice of Deloitte Consulting. He received an MBA from New York University’s Leonard N. Stern School of Business, and bachelor’s degrees in civil engineering and finance from Clemson University.
Higginbotham can be reached at philip.higginbotham@us.gt.com or +1 214 561 2580.
22. 22 Predictive and prescriptive analytics
Financial Executives Research Foundation (FERF) gratefully acknowledges these companies for their longstanding support and generosity.
Platinum major gift
$50,000 +
Exxon Mobil Corp.
Microsoft Corp.
Gold president's circle
$10,000 – $14,999
Cisco Systems Inc.
Cummins Inc.
Dow Chemical Co.
General Electric Co.
Wells Fargo & Company
Silver president's circle
$5,000 – $9,999
Apple, Inc.
The Boeing Company
Comcast Corporation
Corning Incorporate
Credit Suisse AG
Dell, Inc.
DuPont
Eli Lilly and Company
GM Foundation
Halliburton Company
The Hershey Company
IBM Corporation
Johnson & Johnson
Lockheed Martin, Inc.
McDonald’s Corporation
Medtronic, Inc.
Motorola Solutions, Inc.
PepsiCo, Inc.
Pfizer Inc.
Procter & Gamble Co.
Sony Corporation of America
Tenneco Inc.
Tyco International Management Co.
Wal-Mart Stores, Inc.