BUSINESS ANALYTICS ENABLES SMART DECISION-MAKING THAT IS DRIVEN BY DATA.

Business Analytics (Business Analytics) is fast becoming one of the greatest corporate assets of any company who wishes to maintain the competitive edge. Business Analytics comprise analytics and tools for the intelligent and methodical analysis of a company’s actual operational and statistical data to form predictive models and enable informed decision-making for business process optimisation. Simply put, Business Analytics equips companies to yield greater business results by working smarter, not harder.

When it comes to Business Analytics, the philosophy of nCoded Solutions is to keep it as simple as possible. Our team of highly skilled analysts therefore specialise in assisting companies to implement easy-to-use analytic tools and methodologies that will simplify the analysis process and place powerful data for enhanced decision-making – at their finger tips. Our main area of focus and specialisation is around Detective Analysis, Dashboards and Reporting.

Reports

The reports and reporting functionalities should ultimately serve to answer one critical question: ‘what happened?’ However, ahead of the thinking curve right now is to not just place reports in the hands of managers in hindsight, but to place reports in their hands in real time.

nCoded Solutions equips companies to utilise reports to gain a complete understanding of ‘what happened’. This is taken to the next level by not generating the reports after the fact only, but to rather enable managers to monitor activities on an ongoing basis. As such, reports are generated continuously as data is automatically received via capturing, scanning, PLCs, etc. The process stimulates further analysis as managers automatically start asking other important questions as well, such as why and when it happened. The technology that is usually used here is largely dependent on the skills available within an organisation. For example, for beginners, MS Excel and MS Reporting Services are ordinarily used to create standard reports.

Detective Analysis.

As soon as reporting ends and we know what happened, Detective Analysis kicks in to answer the next important question: ‘why did it happen?’ Detective Analysis is a methodical approach that facilitates intelligent data analysis to lead managers to the right answers.

In the Detective Analysis process, managers start looking for reasons for unexpected changes in business or operational activities. Typical issues that are investigated are ‘why did the efficiency drop?’ or ‘why did our maintenance cost escalate?’ To find sensible answers to these questions, past trends or changes in distribution are examined. The problem with this approach is that it is backward looking. Even though backward analysis can be useful for business planning, the true purpose of analysis is rather to determine what has worked and what has not. nCoded Solutions works closely with the organisations to strengthen our knowledge of the business so that the tools and analysis that we carry out adds good value. Our approach is based on: Data Visualisation, Correlation Analysis, Significance Testing, Artificial Neural Networks, Pivot Tables, MS SQL, MS Advanced Excel, MS Access, Trend Analysis, Regression Analysis and other sophisticated statistical methods.

Dashboards

A Dashboard is an organised summary of key business metrics that really just serve to answer one key business question: ‘what is happening?’ Dashboards should ideally be interactive to make it easy for the user to find information and it should provide real-time information on performance.

nCoded Solutions has a web-based Dashboard titled ‘nCoded View’ that was developed using Microsoft ® MVC ( Model View Controller) architectural logic. It was purposefully engineered with sleek web design in mind to provide an interactive experience with optimal viewing that allows for easy reading and navigation with minimal resizing, panning and scrolling, across a wide range of devices (from desktop computers to mobile phones). nCoded View was developed on the .NET Framework (version 4.5.2) that runs primarily on Windows ® and jQuery was used for a number of the client-side controls and interaction.

jQuery) is the most popular cross-platform JavaScript library in use today, with an installation base of 65% of the top 10 million highest-trafficked sites on the web. It is designed to simplify the client-side scripting of HTML. Bootstrap was used for a lot of nCoded View’s styling. Bootstrap is a collection of tools for creating websites and web applications. It contains HTML and CSS-based designed templates for typography, forms, buttons, navigation and other interface components, as well as optional JavaScript extensions. It aims to ease the development of dynamic websites and web applications. We display Real-Time information; and the communication is done via SignalR. This function notifies the application of any changes to the database, which in turn are then displayed immediately, making the dashboard display live information.

nCoded View allows the user to configure information such as:

  • Calendar details.
  • Resource and/or Cost Centre details.
  • KPI classifications such as colour specifications on the Dashboard Gauges.
  • Date Scale Rules (Day, Month-To-Date, Year-To-Date)
  • KPI Granularity (per Resource, per Department, per Business Unit, per Division, etc.)
  • Data source.
  • Number of KPIs: Our screen auto-adjusts, no matter how many KPIs are to be displayed.
  • Display choices.
  • Plus other valuable information

Predictive Analysis

Predictive Analytics is the branch of the advanced analytics which is used to make predictions about unknown future events. Predictive analytics uses many techniques from data mining, statistics, modelling, machine learning, and artificial intelligence to analyse current data to make predictions about future.

Predictive Analytics uses the patterns it found in the Historical Data and Transactional Data to determine future trends, opportunities and risks. Predictive Analytics captures relationships to measure risks that fit a particular condition.

 

It is through Predictive Analytics where a business is able to become proactive, forward-looking and can also anticipate outcomes and behaviour based upon historical data in a methodical and structured approach, instead of a hunch or assumption.

 

Predictive Analytics Process:

1. Define Problem Areabus

Define Scope, Deliverables and Output Required.

2. Data Collection:

Data Preparation and Collectio

3. Data Analysis:

Data inspection, Data cleaning, creating of assumptions and conclusions.

4. Statistical Analysis

Applying tests such as hypothesis and other statistical testing methods.

5. Modelling

Creating a model based on statistical analysis to determine what the future trend will look like.

6. Deployment:

Provide solutions around the problem area.

 

Who uses Business Analytics?

Finance

With constant uncertainty and battles faced by the economy, competition and rising costs of manufacturing, it is essential for finance units to have tools that would enable them to make fast and accurate decisions. It is also important for them to have tools that would assist them in the development, management and measurement of strategies that will drive growth

Some of the business issues that are addressed by Business Analytics:

  • Planning and Budgeting.
  • Value Analysis.
  • Sell only profitable items.
  • How production impacts financial performance with visibility to machine level.
  • Costs and Recoveries.
  • Overtime cost and management.
  • Profitability and Contribution.

Supply Chain

The supply chain unit is a great place to use analytic tools to look for a competitive advantage, because of its complexity and also because of the prominent role supply chain plays in a company’s cost structure and profitability.

The Supply Chain unit would use Business Analytics for:

  • Better forecast of demand and production.
  • The understanding of plant performance across multiple metrics.
  • Provision of faster service to customers.
  • The understanding of capacity availability.
  • Providing an accurate procurement plan that aid supply chain in improving cash flow.
  • Assisting planning with the creation of optimal production plans.

Sales and Marketing

Traditionally Sales and Marketing doesn’t “get along” with Production and Supply Chain; simply because of how these functions operate and are measured.

The type of Business Analytics offered by NCoded Solutions would answer questions such as:

  • Who are our customers and where are they?
  • What business service and/or offering should we be concentrating on?
  • What is the size of the market and what is our demand portion on the pie?
  • What is the value of our demand and what is the production progress for this demand?
  • Accurate visibility and reporting of what the expected date of delivery looks like.
  • What is our customer service performance like?
  • What is our Supply Chain lead time?

Production

The complexity and dynamics with production is the main reason for the use of Business Analytics. Dynamics around ‘how am I doing against the planned targets’, or ‘am I using my equipment effectively’, or ‘how much have I produced so far?’ etc. make Business Analytics a sweet spot for the production unit.

Some of the information available for production is:

  • Equipment Efficiency (OEE).
  • Plant throughput.
  • Scrap and Rework.
  • Downtime and Maintenance Management.
  • Manufacturing Lead Time and Work-in-progress levels control.
  • Employee motivation and training.
  • Product sequencing and scheduling.
  • Production planning and control.

Where is Business Analytics Used?

A suite of analysis tools and outputs is available.

Shop Floor:

  • Overall Equipment Efficiency (OEE).
  • Downtime Analysis.
  • Efficiency Measurement.
  • Production Progress Analysis.
  • Plan versus Actual Analysis.
  • Overtime Management and Analysis.
  • Production Throughput Analysis.
  • Overtime Management and Analysis.

Planning:

  • Production Planning Analysis.
  • Analysis of BOM shortages.
  • Order Summary Status and Analysis.
  • Planning Cost – to assist with What-if Analysis.
  • Orders Analysis – to analyse orders that are at risk.
  • Lateness of orders Analysis.

Finance:

  • Product Cost Analysis.
  • Turnover Analysis.
  • Production Cost versus Turnover Analysis.
  • Analysis of Manufacturing Cost per Unit.
  • Analysis of Productivity in Revenue per Employee.
  • Analysis of Return on Assets.
  • Analysis of Energy Cost per Unit.
  • Analysis of Cash to Cash Cycle Time.
  • Analysis of Average Unit Contribution Margin.
  • Analysis and Management of Inventory Value.

Marketing and Sales:

  • Backorder Analysis.
  • Analysis of Due Date Performance.
  • Turnover Analysis by Segment/Customer/Region/Area.
  • Profitability Analysis.
  • Analysis of Pricing Application Strategy.

Business Analytics Benefits in a nutshell.

  • Advanced analysis of business data.

  • Enhanced insights into business activities.

  • Enablement of data-driven decision-making.

  • Minimising of waste.

  • Automation and optimisation of business processes.
  • Gaining and maintaining of the competitive advantage.
  • Optimal operations at maximum profit.