Tomorrow’s winning organizations will be those that leverage their data to gain strategic insights. Using records related to transitions, conditions, demographics, and other aspects of the organization’s environment transfers data into information, which is the basis of business intelligence analysis. Data mining is a valuable component to delivering results, whether for small businesses, corporate enterprises, community organizations, institutions, or government agencies.
Organizations vary in size, mission, business situation, and performance. And yet, common among them is the record of their operations, marketplace and supply chain transactions, and financial conditions. These organizations grapple with challenges. Look for ways in which to improve their performance measures. And constantly compete to identify a competitive advantage that distinguishes the organization with consumers, investors, and other stakeholders.
Today, various methods exist consider strategic change. Consumer research favors feedback tools such as surveys and focus groups. Some organizations borrow from the scientific community to conduct hypothesis testing in order to determine whether a proposal change leads to measurable affects. Still others adopt trial-and-error techniques.
We strongly encourage data-driven strategic change. Reliance on business intelligence is a sound process through which the organization can make critical decisions, financial investments, and other commitments. Mining, that is, the application of statistical methods to data resources, enables organizations to answer such questions as:
- What product portfolio yields the highs profits for various channel segments in retail markets?
- How much cost savings can we expect by changing our shipping patterns?
- How did a production change affect defects by type, product line, etc?
- Did the introduction of a production change alter defects by type and at different levels by product.
- To what extent did price restructuring impact volume, market share, and consumer satisfaction?
- What is the relationship between various IT infrastructure changes and critical performance indicators as well as meeting Service Level Agreements [SLAs]?
- What are the relevant trends in productive of various recruitment methods in the organization’s successful recruitment of top performing personnel?
- Which combinations of demographics pose the greatest claims risk for our products and how has that changed over recent years?
- What, if any, are the relative revenue, cost, and profit differentials derived by serving customers in various geographic regions?
- What types of cannibalization might we anticipate from a proposal product introduction?
Data mining enables clients to turn their repositories into strategic assets for future operations as opposed to restricting the data to archival purposes. We take organizations through every phase of the process, including designing analytics, integrating tools, developing algorithms, performing analyses, publishing results, making business intelligence oriented recommendations, and conducting post-recommendation/implementation assessments.