Predictive analytics to unlock value and detect growth opportunities

Analysis to improve margins and detect new product opportunities

The availability of reliable and up-to-date information and data, combined with the analysis of Big Data allows us to better meet the needs of consumers. Digital transformation opens up much broader possibilities than relying exclusively on market data and global sales histories.

In a context of strong competition, this is a decisive strategic advantage. The
advanced analysis
analyses shed light on consumer expectations and changes in consumer behavior. On this basis, the company is able to make the right decisions and invest in relevant innovative solutions to improve business performance. This may involve adjusting sales prices, reviewing production costs, proposing offers, and developing new business models in response to demand.

The cross-referencing of numerous data, such as the churn rate for a service, the decrease in sales of a given product, and the seasonality of sales, makes it possible to analyze changes in consumer behavior and to design predictive models.

Depending on the nature of the business and its location, other variables from external sources may be added to the analysis, such as weather conditions, stock prices or exchange rates.

From then on, business opportunities will be easier to identify. Is it appropriate to lower prices? Should new products be designed and launched?

Usually, all the necessary data is already available in the different departments of the company. It remains to ensure their consolidation, processing, analysis and sharing through a common software platform.

Allocate resources to higher value-added projects

All too often, major budgetary decisions are made on the basis of the previous year’s results. This is the basis for adjusting the financial and human resources allocated to a given project or service. This is an important factor of organizational inertia.

Thanks to an optimal use of the analytical potential of Big Data and with the support of dashboards generated in real time, the resources allocated to each project will be able to be confronted with the real performances. Predictive analysis allows you to drill down to the level of each specific project and prioritize it. It opens the way to prescriptive analysis, which is entirely action-oriented.

The allocation of resources will then have to be adjusted and, if necessary, certain unprofitable projects will have to be suspended or called into question altogether.

Creating predictive models for early warning

Predictive models are not exclusively tools to improve business performance in a growth environment. They also participate in risk prevention and management.

The predictive modeling is to deploy efficient algorithms to generate early warnings. The necessary corrections will thus be made within a reasonable timeframe, in order to avoid any crisis situation. It could be to detect possible fraud, unusual transactions or transaction failures, to anticipate technical defects or malicious acts, to avoid stock shortages.

The advanced analyses made possible by the digitalization of the finance function are of strategic interest today, both to seize business opportunities and to support risk management policy and guarantee the company’s reputation. Companies that have made a significant effort to ensure their digital transformation will not fail to see a rapid return on investment. The generalization of the platform system and the automation of business processes are now essential issues.

Our Sqorus BI & Analytics experts work with the leading BI and Analytics vendors (Oracle, Microstrategy, Anaplan, Axway) to find you the solution that best suits your business needs.

P.S.

Sqorus supports its key account clients in the digitalization of their finance functions. With a functional and technical expertise of the main solutions of the market dedicated to the finance business, we implement and accompany our customers in all phases of their projects. Thanks to consultants certified on solutions such as Oracle, Netsuite, PeopleSoft, Kyriba or Axway, Sqorus is the preferred integrator of financial solutions on the market.

When you are ready:

• Download our white paper “Digital transformation of the finance function: where do you stand?”
• Contact a consultant from our finance team for an audit of your situation and needs

Also read on the topic of digital transformation of finance functions:

• What is the role of the finance department today?
• 5 obstacles to the digital transformation of finance functions
• The finance function, an actor of change in the digital transformation of the company
• Predictive analytics to unlock value and detect growth opportunities
• Better managing talent to overcome the obstacles to digital transformation in the finance function
• Improve financial processes with automation and RPA
• Provide users with real-time data with data visualization
• Advanced financial analysis to improve decision support
• Identify the business processes in the finance function that would benefit most from digitization
• Security at the heart of the company’s financial transformation
• From a Finance IS to a Finance Data System