Businesses do not want to be surprised by downtime, equipment failure or the cost of unanticipated equipment replacement. If the enterprise can anticipate the need for equipment maintenance and downtime, it can plan more effectively for product output, resource requirements and expenses.
If a business wishes to optimize inventory, production and supply, it must have a comprehensive demand planning process; one that can forecast for customer segment growth, seasonality, planned product discounting or sales, bundling of products, etc. In order to predict and forecast and assure product or service availability, the business must also look at the dependability of suppliers, shipping and the purchasing of parts that make up the products. It must also plan for appropriate resources and training and, where necessary, plan for new products.
It is easy to understand the importance of producing quality products and services and the impact of poor quality on business reputation. If your business does not have adequate quality controls in place, it will lose market share and may even expose the enterprise and its team to legal liability.
Fraud costs businesses millions of dollars per year, and the resources and effort required to mitigate fraud can take precious focus way from core business initiatives. But enterprises must address this critical issue, if they are to protect their interests and the interests of their partners and customers. While one may think of fraud most commonly associated with financial and banking organizations or IT functions or networks, industries like healthcare, government and public sector are also at risk. And fraud can take many forms and affect the supply chain in numerous ways.
Every business understands the importance of acquiring and sustaining its customer base. In a competitive, global economy, even the smaller local businesses can lose customers to competitors on the other side of the world. The cost of acquiring a new customer includes marketing and advertising, resources and personnel, customer support, search engine optimization and more. The cost to sustain a customer relationship is equally important and encompasses customer care, online and personal support, the cost of introducing new products and services, the cost of targeting specific customers with discount, offers and outreach designed to keep the customer engaged and interested.
Elegant MicroWeb is included in the Gartner Market Guide for Data Preparation Tools, published on April 17, 2019. The Elegant MicroWeb (Smarten SSDP solution) is listed as a Representative Vendor in the Gartner Market Guide for Data Preparation.
The concept of advanced analytics can seem out of reach for many businesses. Business execs and managers often picture a team of data scientists and IT staff busily analyzing data and, included in that picture, they imagine the bags full of cash required to fund that team of professionals.
Most businesses are choosing advanced analytics for business users and there is a good reason for that! Even the largest businesses rarely have an unlimited budget for data scientists and the trend toward data democratization has revealed the value in enabling business users with a data and analytics platform that is easy and mobile and can provide clear, concise results for planning, issue resolution and management of results at every level within the organization.
Whether you know it or not, you are familiar with Natural Language Processing. Applications of NLP include search techniques used in Google and other popular tools. The use of natural language processing in self-serve advanced analytics solutions can mean the difference between a simple, yet sophisticated, business user tool and a tool that is only suitable for a data scientist or professional analyst.
