With over 25 years in analytics, Numerical Insights has completed analytical projects in human resources, supply chain, operations, and engineering. Having experience in multiple functional areas has yielded the ability to see the broader implications of these analyses to the entire business.
We live in a knowledge economy. We analyze information to gain competitive advantage through data-driven decision making. Most companies have a vast amount of untapped data spread throughout the organization. Business Analytics and Business Intelligence (BI) help companies eliminate guess work and gut feel decision making. It can improve cooperation among departments and enable companies to respond quickly to movement in the data.
The extensive experience of Numerical Insights in data analytics allows us to provide focused and "technology independent" analysis services to help you use data for better decision making. Whether its analyzing customer demand patterns, factory production, workforce demographics or termination patterns, Numerical Insights can help.
The possible application of analytics to any business is vast. Here are just a few project examples.
- Determine which products or customers contribute the most to your profit
- Assess which zip codes have yielded the greatest customer base
- Spend analysis for purchasing departments
- Historical product demand and variation analysis
- Workforce analytics, headcount planning
- Healthcare needs analysis
- Customized data visualizations using the latest BI tools
Contact Numerical Insights today to see how we can help you make data-driven decisions to increase the profitability of your organization.
Case Study: Inventory Challenges
We were approached by a company who had inventory challenges. The demand for their products is on the rise, but they kept running out of parts to build their products. The challenge? The orders were coming in but the product was not going out the door at the same pace. Orders are being delayed for lack of component parts in their inventory.
Numerical Insights took a look at the customer demand data in order to understand customer ordering behaviour.
A high level assessment revealed that the customer offers just over 7,000 products. A closer look revealed that over a 2 year period, 34% of these products were only ordered once. Think of the amount of support and inventory involved to stock these products for the odd chance that someone will order one of these products sometime in the next 2 years.
For the remaining 66% of the products that were ordered more often, a study over the 2-year time-frame was conducted to show the minimum and maximum monthly order levels. This provided the company with an idea of which products were ordered on a steady basis and which ones swing up and down substantially in demand.
The value to the client? They now know which products have volatile ordering patterns and which ones are stable. This allows them to make strategic decisions on which parts to keep in inventory.