What is Analytics and how can it help improve business performance?
The process of collecting, transforming and modelling data for the purposes of providing insight, then explaining that insight to decision makers with the aim of guiding an action.
Data on its own adds very little value to an organisation, it needs to be processed to generate insights.
Insights on their own do not directly add value, the value comes when the organisation uses the insights to make a decision that will lead to more value.
Value could be in many forms, for example increased sales, better service levels, happier more loyal customers, or simply recognising that some activities contribute very little to the performance of the organisation.
At SPT Services we can cover this full spectrum, from collection of data, to processing it, to generating valued insights to communicating the business value that these insights can bring and helping to drive genuine performance improvements.
All organisations are at a different stage of the analytics journey, with lots of hype surrounding the latest developments in Artificial Intelligence and Machine learning. Industry terms and buzzwords don’t help, they add to the confusion. We distill all of the buzzwords down and simply call the journey a four stage process:
See, Plan, Predict, Automate.
Types of Analytics
SEE – What happened?, Why?
In the industry this is called Descriptive Analytics and Diagnostic Analytics or simply Business Intelligence
This is the starting point for most organisations looking to understand their data,.
Focussed on presenting historical data in charts, tables, diagrams, dashboards or to use the latest buzzword – Visualisations
We focus your attention on what drives your business, relevant information at the right time and user friendly, not just pretty charts
Our Specialisms in the area include:
– IBM Cognos Analytics
– Microsoft PowerBI
– Microsoft SQLServer, Excel PowerQuery, – PowerPivot
– Qlik, Tableau
PLAN – What do we want to happen?
Generally Called Planning Analytics or integrated business planning
This area includes Budgeting, Planning, Forecasting, Scenario Modelling, Rolling Forecasts, and leads to the creation of enterprise wide performance management solutions, Risk Management, Variance Analysis, Scorecards
Our certified competencies with the software coupled with our Chartered Institute of Management Accountants status gives us proven abilities to both implement and advise on business performance
Our Software Specialisms include:
– IBM Planning Analytics (TM1)
– Adaptive Insights
PREDICT – What will happen?
Predictive Analytics, normally associated with Big Data and machine learning
This involves the use of statistical analysis of trends and probabilities, identifying relationships in data and unearthing insights that can really help organisations to gain advantage from data, whether it is their own internal data, or external and often called big data
Simulation, What-if Analysis, Driver Analysis
We target the identification of the relevant drivers that drive the results of your business
Our Software Capabilities Include
IBM SPSS Statistics
IBM Watson Data Studio
We provide real business advice, not just systems implementations
We are registered with the Chartered Institute of Management Accountants (CIMA). Our services are not limited to implementation, but with our business knowledge we are well placed to provide advice on Business Planning, Process Improvement, Cashflow Management, Contribution / Profit Analysis, Cost Reduction, Management Performance Reports.
Integrated Reporting, Planning and Predictive Analytics
We provide integrated solutions across a broad range of business processes, not just the financials! We analyse your business processes, provide insight to add value, increase efficiency and accuracy. Then, we link these processes together to ensure your departments are ‘working’ together. By getting everyone to pull in the same direction, your performance is stronger and your business is much more efficient and focussed We can start off small in one particular area of your business, demonstrate the value and our capabilities and then move to the next area of improvement, this gives you a low risk high return approach, delivering benefits as we go
Sectors of Particular Expertise
Retail, Manufacturing, FMCG, Logistics, Banking and Legal
Database Technology Expertise
Microsoft SQL Server, Oracle, Teradata
Strategy and Activity Aligned
Sales Dashboards and Forecasts
Customer Acquisition, Growth, Retention
Weather impact Analysis
Buying Pattern Analysis
Social Media Analysis
Customer and Product Profitability
Customer survey analysis
Online review analysis
Strategy and Operations Plans
Capacity and Operations Plans
Product Quality Analysis
Planning, Budgeting & Forecasting
Profitability Modelling & Optimisation
Scorecards & Strategy Management
Management & Performance Reporting
Profit & Loss, Balance Sheets
Cashflow / Liquidity Analysis
Salary and Bonuses
Training & Development
Staff turnover analytics
Regional Economic Analysis
Energy Efficiency Reviews
Lease or Buy Analysis
Capital Investment Appraisal
Get in touch with us
If you are interested in excelling in your market, becoming a digital disruptor or simply finding out more please get in touch.