Advanced analytics is the use of modern data mining, pattern matching, data visualisation and predictive modelling tools to produce analyses and algorithms that help businesses make better decisions.
Advanced analytics answers the questions: Why is this happening? What if trends continue? What will happen next? What is the best outcome? These answers relate to matters such as customer, pricing, supply chain, logistics and workforce analytics.
Challenges you may face
A full-scale shift towards analytics is underway today in almost every domain. Things have become so complicated that shooting from the hip has lost its allure. For some, it is a welcome change. For others, it is something to resist. It all depends on one’s perspective. Every domain must be optimised to meet demands.
Benefits to you
Many organisations don’t exploit – or even realise – the competitive insights hidden within their data. Advanced data analytics helps to reveal information that can drive better decision-making (e.g. forecasting, prediction, simulation and optimisation).
How Deloitte can help you
Deloitte offers targeted business solutions that help organisations to solve complex business problems, to draw conclusions about current conditions and future events, to deploy proactive risk intervention strategies, to improve productivity and process efficiency and to manage for performance.
- Predictive modelling
The trend in analytics has moved from decision-making based on historical and current data to leveraging analysis to model outcomes and to make predictions that inform business decisions with predictive intelligence. Predictive modelling services include connecting enterprise data to fact-driven intelligent decisions and drawing reliable conclusions about current conditions and future events.
- Risk measurement
Risk measurement services include analytics used to identify risk events and measure the business performance against the defined risk thresholds to predict, prepare and deploy proactive intervention strategies.
- Business process analytics and optimisation
Business process analytics and optimisation services offer an improved productivity and process efficiency through an analytical environment where relevant, actionable, accurate, and timely information is available. Such information is used to monitor cost elimination opportunities, to identify profitable growth opportunities, to solve problems faster and to make intelligent decisions more quickly by embedding analytics into key areas of operations, including sales and marketing, financial operations and supply chain.
- Performance management
Performance management services include detailed analytical modelling activities that focus on operational performance, sophisticated cost and profit planning analysis. This analysis can be used to provide decision-makers with a business-wide visibility into multiple scenarios and forecasts delivered as needed, in formats that decision makers can use to optimise performance.