Intelligent Analytics

Common Scorecarding Obstacles to Avoid

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ObstaclesScorecards are a key component of a performance management initiative, yet many companies are not satisfied with the results they’re receiving from their scorecarding programs. Why?  Partly because they may focus too much on the mechanics of getting their scorecards implemented and neglect to address the effectiveness of the scorecards once they’ve been created.   Based on Silvon’s own work with firms who needed help in this area, we found some common factors that led to the biggest scorecarding headaches.

Here are 3 areas in which performance scorecards tend to fall short of their intended goals:

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Manufacturing Metrics that Matter Most

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ForecastingIn today’s manufacturing enterprise, executives and line of business managers are constantly bombarded with information, making it difficult to weed through it all to figure out what business issues need to be addressed.

This has prompted many companies to rely more heavily on their BI software applications to track the Key Performance Indicators (or KPIs) of their organizations.  KPIs are financial and non-financial measures that help decision makers pinpoint the strengths and weaknesses of their businesses and show whether they are in line with their strategic objectives. View Article…

Demand Forecasting Should Be a Core Competency

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ForecastingFor many US manufacturers, the business landscape has changed dramatically over the past several years. Not only have we endured a downturn in the economy, causing increased competition, but we have been lured to the world of outsourced manufacturing. So the question becomes: Where should manufacturers that were more vertically integrated refocus and develop core competencies? Certainly brand management, quality and even culture are long standing core competencies, but what — from a process perspective — makes the biggest difference? View Article…

Understanding Your Suppliers with Business Analytics

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Understanding Your Suppliers with Business AnalyticsRecent studies show that the ability to produce hard cost savings that impact the bottom line is now the primary focus of many procurement departments. Unfortunately, most manufacturers don’t know how much they spend, on which products, and with which suppliers. The lack of good data makes true strategic sourcing a statistical impossibility and the identification of hidden cost opportunities is virtually out of the question. Inadequate spend analysis costs companies $260 billion in missed savings overall. View Article…

3 Ways Business Intelligence Can Improve Your Sales and Marketing Efforts

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3 Ways Business Intelligence Can Improve Your Sales and Marketing EffortsWith today’s business intelligence dashboards, end users in every department of the organization have a more effective means of gaining greater insight into their side of the business without having to go back to IT or business analysts for more data. And that data in the hands of your sales and marketing team in particular can mean huge improvements for those departments.

Here are three ways business intelligence software can help improve your sales and marketing efforts. View Article…

Should You Acquire BI Technology From Your ERP Vendor?

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Should You Acquire BI Technology From Your ERP Vendor?Business intelligence (BI) is a high priority for many organizations. But for those with existing ERP systems, implementing or updating a BI program raises especially interesting challenges.

Should you source your BI technology from your ERP vendor – or choose a third-party, best-of-breed BI system?  Will BI be based just on ERP data or will data from other source systems be integrated? How will data integration, data quality and data normalization be handled?  Will your BI system scale to provide the performance and functionality required in both the short and long term?  How will implementation time and costs be affected by the strategy you select?  And what’s the best way to sort out all of these issues, build a business case, scope and plan the project effectively? View Article…

How Different Members of Your Company Can Use Predictive Analytics

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How Different Members of Your Company Can Use Predictive AnalyticsAs part of a business intelligence system, predictive analytics process historical data (such as customer buying trends, inventory performance, financial performance, and more). The system “learns” what happened in the past then creates a prediction model based on the likelihood that a certain event will occur down the road. The goal is to learn from past mistakes and successes so you know what to change, what to replicate, and what to expect from the future.

For instance, predictive analytics might help you identify which inventory items are not only your top sellers, but also when they are most likely to turn the quickest. This can help you calculate safety stock to ensure your warehouse never runs out of product when you need it the most. View Article…

Using BI to Up Sell & Cross Sell

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CrossSellUpSellCross-sell / up-sell programs are a key tactic for growing revenue from existing customers. But companies first need to determine the fastest route to revenue by channel, identify which customers to target, when to target them, and the best products to cross-sell or up-sell. This is where the analysis gets tricky.

You often have so much data about customers that it is difficult to cut through the clutter and get a complete picture. In addition, the specialized marketing and sales analysis skills needed for such analysis make it difficult to find the kernels of insight residing in the data. View Article…