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Numerical Insights publishes articles on a variety of topics including business analytics, data analysis, data visualizations tools, improving business results, supply chain analytics, HR Analytics, strategic workforce planning, and improving the profit. Browse our articles below or use the category buttons to quickly filter into a topic.

 
Posts in Business Improvement
How Growing Companies Can Fail: Understanding the Cash Flow Gap (Ep. 1: Business Analytics Series)

Smaller, younger businesses are more likely to fail because of cash flow problems and poor cash flow management. In fact, the SBA reports that 82% of younger businesses fail this way. Understanding the concepts of order-to-pay and the cash flow gap are key to successful business management. View this video to learn how growing businesses can fail if they don't manage this challenge and how to use simple data analytics to how this challenge can impact you.

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Profitability Through Reduced Complexity …and the added benefits thereafter

Why is product rationalization important? As the number of products increases and products move through their life cycles, the percentage of products that become low volume and/or low profit increases. So how does product rationalization work? 

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Data-Driven Decision Making for Restaurants and Bakeries

Individual locations of large restaurant chains are supported by the enterprise systems in their corporate locations. These systems assist each location in viewing sales, sales patterns, usage of ingredients, profitability, inventory analysis and more. An individual owner of a restaurant or bakery doesn’t have the luxury of corporate support and enterprise computer systems but still has to figure out how to compete with these chain locations. Data-driven decision making has become an invaluable tool for these entrepreneurs.

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The Monthly Metric: Demand Variability

A change of the calendar is always a time when supply management professionals think about challenges in the coming year. However, if recent history is a guide, there won’t be much debate on the biggest challenge for procurement in 2019. Throughout the decade, surveys and studies have identified demand variability as the biggest impediment to supply management success.

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Practical Analytics: The Value of Actions

In the analytics world, there are teams that are “stuck.” This article is to help those teams get “un-stuck.” Perhaps you headed down the path of analytics without a plan. Perhaps you had a plan but the ever-changing data privacy regulations halted that plan. It’s time to refocus so you can begin to move forward once again.

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Efficiency Gains and Savings with the Net Promoter Score

The concept of the Net Promoter Score (NPS) was first published in 2003 in an article called,  One Number You Need to Grow. It was created as a way to measure and manage customer loyalty without the complexity of traditional customer surveys. Since that time, the same concept has been applied in multiple functional areas to replace longer surveys that require too much of a participant’s time. 

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17 Analytics Ideas to Get You Started

This list is provided to help you get started in analytics. Examples are from HR-People Analytics, Supply Chain Analytics, Legal, Marketing and general Business Analytics. If you’re only interested in one of these areas, I have identified in each example, the business areas to which the idea applies. You can use that to skip quickly through the list.

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Five Popular Mistakes for KPIs

Given the time pressure that everyone feels in the corporate world, it is very tempting to assign the task of KPI selection to one individual and ask them to suggest a list of metrics for the company or business area to use as KPIs. However, KPI selection is not a task and all metrics are not KPIs. KPI selection is an activity that requires careful planning or you will not obtain desirable results.

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