In this white paper, we will demonstrate how an small or medium sized business can use predictive analytics in a common business application - Cost Modeling and Forecasting. We will discuss how one mid-sized custom chemical compounding company specializing in structural composites is leveraging analytics to improve its cost forecasting.
This report is targeted at organizations who wish to analyze collected data to make informed policy or business decisions or to allow the stakeholders to effectively utilize the collected data assets by giving them an easy to use set of tools and processes. But in reality any analyst can use the process and tools described, in addition to the existing data. Furthermore, the process can be easily extended to merge specialized data, such as geolocation data with existing data before identifying key drivers.
Pareto’s Rule describes that large events are rare, but small ones are very common; like the fact that there are very few billionaires, but most people have only little or modest wealth. Download this white paper to get the basics of Pareto also know as the 80-20 Rule.
Customer Lifetime Value (CLV) is an important predictive metric, at the intersection of marketing and finance. It provides business managers and senior decision makers with forward-looking information on customer relationship performance.
Customer relationship performance is a key driver of firm value, risk management and profits. In addition, a focus on CLV enables a customer centric business culture and is the core of customer value management. This white paper provides a definition of CLV, grounded in finance, accounting and marketing theory.
Automotive manufacturers typically install a "black box" inside each of the thousands of prototype and field testing vehicles they build during development. They do this to capture second by second readings from the dozens of sensors and electronic control units (ECU) which manage a modern car. The data can be channeled to this black box via a vehicle's on-board diagnostic (OBD) port which is typically located under the dashboard of a car. As many as 500-750 different vehicle performance parameters may be recorded; adding up to the storage of terabytes of data.
Preventative maintenance promises to help reduce repair and warranty costs. Analytics of on-board data can predict a problem before a part even fails which thus enables proactive repair and subsequently prevents the inconvenience of a breakdown. Rather than going by a generic maintenance schedule, it can help consumers better optimize the timing of vehicle care as it relates to their individual driving (or usage) habits and vehicles’ wear and tear.