Jim called me the other day. He is an analyst working for a mid-sized CPG company. I went to school with him back in the day. He usually calls with questions about his PC, such as “Why won’t it run fast enough?”Read More
Spreadsheets are no longer enough to support client projects – they're inadequate for creating complex and dynamic business models.
In the best-selling book, The Tipping Point, author Malcolm Gladwell defines the tipping point as that one dramatic moment in an epidemic when everything can change at once. Currently, there is a tipping point, a product of geometric progression, for business modeling.Read More
The latest in retailer loyalty programs is here. Chains like Starbucks and Gap are increasingly tracking and rewarding customers who show up at their locations and check in via smartphone apps and social networking sites. Customers are offered real-time promotions on the spot based on their shopping habits and loyalty to the stores and/or brands. In theory, these kinds of retail promotions allow everyone to win; in reality, there is another story.Read More
Have you wondered why all the buzz about prescriptive analytics?
Think about this for a moment. Smart people have probably told you that your company needs to be using such capabilities. In fact, Gartner Research predicts up to 40% of companies will be using prescriptive analytics by 2021.
To understand the challenge of making the move to prescriptive analytics, we look at real-world applications and, more importantly, how such capabilities can make your company more efficient and more profitable.
Check this out: Prescriptive analytics uses algorithms to create a flexible performance model of your business that can provide managers insights into the best decision to make in a given situation. It has the benefit of fully respecting the constraints and objectives of the business while also reporting the financial impact. That’s right. The dashboard chart below shows the types of business analytics and their role in planning and decision-making processes.
River Logic helps business managers make assumptions about business actions so they can understand the full economic impact of their decisions. Business models, developed using this platform, have the ability to express a holistic picture of a company; however, there is one essential ingredient required – data. Our platform models need data from a variety of company sources, for without data, a thorough and effectual model cannot exist. (Note: Models, regardless of the tool in which they reside, need data.)Read More
As I began to write about advanced logistics planning, the first thing that popped into my head, literally, was “damn motorcycles.” I’m currently at 35,000 feet, flying home after a couple of weeks with my wife visiting relatives and friends in Thailand. My mother-in-law’s home in central Bangkok used to be on a quiet, dead-end street (“soi” in Thai). At least, that was until about 10 years ago, when a major Asian parcel delivery company determined (somehow) that the best location for their Thai head office was further in our soi!Read More
Gartner estimates that the majority of all Business Intelligence (BI) projects fail to meet their desired goals. In today’s data centric world, this is terrifying the majority of businesses. Ask any executive if they think BI is important, and nearly all will agree it is. However, most businesses still fail to unlock the potential gains from the insights in their information, even after investing loads of resources into BI solutions.
Terrified is the correct reaction to this, as the deciding factor between successful companies and ones that fail in the next several decades will, to a large degree, be determined by their ability to utilize analytics to optimize their business flows. Companies unable to do this simply won't be able to compete with the ones who are.Read More
After completing a program in predictive analytics and choosing IBM’s SPSS Modeler as the tool of choice, I attended my first IBM conference (IBM Insight) in October 2014. My first priority was to learn more about the SPSS modeling tool.Read More