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Analytics Articles for Business, Supply Chain and HR

Analytics Articles: Human Resources, Supply Chain, Diversity and Business Analysis

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 profitability. We aim to make our articles informative and educational.

 
Posts tagged analytics
Small and Medium-Sized Companies: The Highly Competitive Data Analysis Landscape is Good for Your Budget

The great news for smaller businesses is that data analysis and graphical visualization tools have come such a long way in recent years with the capabilities and ease of use improving all the time. The market for these tools is highly competitive, so companies that offer solutions in this market have no choice but to race forward in an attempt to stay ahead of the competition. This situation is beneficial for companies looking to buy these tools since the high competition level has brought prices down far enough that every business can afford them.

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Failure is not an Option: The Mindset for Success in Analytics

Being successful in analytics requires a thick skin, head-strong determination and a “failure is not an option” attitude. The challenges are many. They are often unexpected and constantly changing. In this article, I will demonstrate a few of the challenges from an HR analyst point of view, but the challenges apply to analysts in all functional areas.

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How to Create A Diversity Strategy

Within certain countries, the topic of diversity has become a strategic focus. Whether it's issues like gender pay equity or proper representation within a company's workforce, making good decisions regarding diversity goals and strategies has become key. Of course, by "good decisions," I am referencing the data-driven kind.

Like all new initiatives, there comes a time when a company has invested so much money that it starts to wonder when it will see a return.

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Which is Better... Tableau or Power BI?

For companies that are just now entering the world of analytics, I am frequently asked my opinion on whether to implement Tableau or Power BI as the corporate standard data visualization tool. For many years, I have regarded Tableau as the gold standard, but times have changed. I’m a long-timer user of Tableau and I have watched the progression of this tool over time. Some parts of its progression have been excellent for its users and other changes have added to users’ frustrations.

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How to Measure Supplier Performance

Taking the time to assess supplier performance is crucial since suppliers can make or break your business. Supplier reliability and flexibility have become performance factors that are just as important as price in order to protect your business reputation and top line. Setting up a method to monitor key supplier performance factors and studying demand patterns can help provide insight into supplier issues and set up a good path for reducing risk of the supply base on your company.

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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 Future of HR Analytics: Consolidation, Self-service and Mobile

During the first few weeks of the year, we inevitably see various organizations issue predictions of what “will be hot.” Unfortunately, these are greatly unreliable because they tend to match whatever that organization wants to sell you this year. Yes, call me cynical. I prefer to gather views from clients and practitioners who live in the real world and who are best equipped to understand the impact of those challenges on what can truly be accomplished today. Based on this type of feedback, here is what I see continuing.

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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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Beginner's Guide: Measures, Metrics and Key Performance Indicators [KPIs]

Regardless of what you do each day, you’ve probably realized that you are surrounded by data. The quantity of data that exists in the world grows substantially with every passing hour and it is said that 95% of it has yet to be analyzed. That’s okay, because success in the data and metrics world is not about analyzing data for the sake of analyzing data. It’s about analyzing data to answer a question. There also has to be value in finding the answer to that question or you risk wasting valuable resources (time and money).

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How to Impress your Leadership with Practical Analytics

Show Me the Money: There are several ways that analytics professionals can produce “real money” from analytics…and you don’t need data as large as Amazon’s to do it. Think about two categories of money inside a company. There is the money that comes in from sales and there is the money tied up in various places in the company.

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