Profitability analysis at the product or customer level.
Inventory performance analysis.
Linear & non-linear forecasting.
Seasonal & time series forecasting.
Speaking engagements.
Book Announcement
Numerical Insights is currently writing a book to guide business owners on the value of data analysis within their organization. Below is a snippet for who should read the book.
If you would like to be notified when the book is published, enter your email address below.
"The reader of this book need not be a mathematician. This book is intended for the business-minded individual interested in learning about the strategic advantage which can be obtained from business analytics. Perhaps you would like to reduce your inventory, predict upcoming retirements, determine product and customer profitability or gain insight into customer ordering behaviour.
This book will present some of the simpler approaches to data analysis and will show the value of these analyses to the business. The intent is to show the reader what is possible rather than teaching the mathematical techniques.
The book will present a series of real-world case studies from various functional areas. It will debate the advantages and disadvantages of trying to build these capabilities in-house and will provide a realistic view of the challenges associated with analytics in the corporate world.
Strategic Workforce Planning (SWP) is the central activity unifying and guiding the strategic direction of many human resource functions. It can:
assess overall human capital risk for the organization
assess the risk of your employee supply
assess the risk of employee demand
assess the gap between supply and demand
determine talent management development needs through competency analysis
set the direction for recruitment needs
Let's look at a one example:
Is your business ready for the baby-boomer retirement wave and their impact on the workforce?
What is the magnitude of people retiring? How can we forecast the hiring needs of our company? How will it affect YOUR company? The example below will demonstrate a forecasting model which can be used in any company. The industry name for this activity is workforce analytics, a portion of the entire Strategic Workforce Planning process.
To demonstrate, I will use Company A which has approximately 5500 employees and is in a fairly mature industry, i.e. this model will not need to account for any rapid growth in the company's strategy. We will assume that the company desires a constant employee population over the next few years.
To begin developing a model, let's consider how people leave: they can retire, be terminated, quit their job or (unfortunately) die. Since the main impact I would like to demonstrate in this model is the vast number of retirements on the horizon, I will group my data into 2 categories: retirements and terminations (which will include voluntary and involuntary terminations as well as death).
Now, how do we predict what will happen in the future? Well, let's start with the terminations category. I examined the past 3 years of history and found that on average, 11% of people are “terminated.” I will then use this 11% as a future value in the workforce planning model.
Can we deal with retirements in the same way? We can, but I'll use a small modification. In examining the past 3 years of retirements, it is found that while many people reach the average retirement age (also determined by past history), only about 20% of those people actually retire. I will use this 20% value to forecast how many people will retire in the next 5 years.
A simple workforce planning model can then be created as shown below. [ Click on the model below for a larger image. ] This model will allow companies to forecast their hiring needs, predict the cost of retirement packages to the organization, guide recruitment strategies, talent management, success planning, etc.
Note: This model is highly simplified as a demonstration of what can be done. Other factors like corporate strategy come into play in the full model (acquisitions, location opening and closings, predicted market growth, etc.). Models can also be built for a subset of the employee population in case a company only wished to focus on certain departments within their organization. In this case, we would also need to add a model variable for internal movements in and out of that department.
As you can see, it is possible to estimate the impact of retirements and terminations on a company's workforce in order to forecast recruitment needs.
Company Information
Location: Germantown, Collierville, Memphis, TN.
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What Other People Say...
“Tracey is a skillful and motivated person. She is an extremely capable team leader equipped to manage projects from cradle to grave. Her communication skills reach all levels of management producing inclusive participation and representation throughout the project. Tracy's insight allows her to see potential area's for improvement and implement new strategies. I would highly recommend Tracey and regard her as a powerful player in the race for bottom line results.”
Rebecca Bauer , Director of Category Management CPFR, VMI, Motorcar Parts of America
Tracey is extremely bright, analytical and adept at coaching a Team of associates from varying functional backgrounds in a Project environment. Her soft skills are excellent and people interactions have always been positive. Tracey was a co-presenter at a BP sponsored Supply Chain Regional Engagement Session conducted at our Corporate Office in New Jersey in 2006 and was received very well by the International Team of BP associates that were in attendance. Tracey thinks strategically with a Business perspective and is excellent at leading teams towards business goals and objectives.
Dan Cadigan , Sr. Strategic Project Leader, BP
Not only did she always work hard and display a good attitude, she also clearly had valuable experience in the world of continuous improvement. I heartily endorse Tracey for jobs in process improvement and reengineering, Lean, Six Sigma, streamlining, and efficiency and quality improvement.”
Tyson Browning , Assistant Prof. of Enterprise Operations, Texas Christian University
“Tracey is a detail-oriented manager who is extremely focused and has the ability to analyze and deliver well executed projects.”
Laura Vanderluit , Marketing Director, Automation Integrators
