The success of a business enterprise is contingent upon the choices it makes for pricing, new products, markets and other factors.
Every enterprise struggles with these types of questions and, if the business makes the wrong decision, it can lose precious time in the market, waste money on resources and lose competitive opportunities.
To answer critical business questions, the business user must have the ability to consider options and solutions and predict the outcome for a particular choice. True Business Intelligence Tool provides forecasting software and enables ‘what if’ or sensitivity analysis that allows the user to consider results before a decision is made.
With ElegantJ BI Forecasting Software, your managers, executives and business users can meet the needs of your organisation and use simple, intuitive tools to view the forecasted results for a particular pricing decision, breakeven point, profit margins, training program, marketing technique, or market entry. The team can make confident business decisions to adjust tactical, strategic and operational goals and processes and ensure business success. Business Intelligence Tool, ElegantJ BI is simple to use, practical to implement and affordable for every organization. Our BI suite provides a simple Forecasting Software solution with personalised views in a browser-based environment. This suite is easy to use and requires minimal user training.
Business Intelligence Tool, ElegantJ BI allows you to easily manage, organize, filter and analyse information from multiple data sources, transactional applications or any other legacy database system in a true business intelligence environment. Take the guess work out of product, service, pricing, sales and other business decisions and ensure business success with ElegantJ BI solutions!
The ElegantJ BI What If Analysis module utilizes integrated data and powerful OLAP, graphical and dashboard features to clearly and accurately illustrate the business results of a prospective market entry, a potential change in pricing, impact on profit margins, break even schedules or an expansion of products or services.
“We need a better way to plan our marketing strategy and budget for our marketing campaigns. We do a lot of guessing right now and we are always caught by surprise when our plans do not produce the results we targeted.”
Henry Bowman, Age 37, CFO for MultiUnion
Henry is the CFO for a multi-product consumer goods company. Every year, Henry creates a presentation to make recommendations to the executive management team regarding annual targets for the coming year. He must project sales and profits and work within the forecasted budget to achieve these targets. To create an accurate plan, Henry must manually compile labor costs, manufacturing and raw material costs, direct expenses, salaries and indirection costs for all operations and global locations. This year, Henry began the process earlier, and with a lot of spreadsheet analysis and custom reports created by the IT team, he has decided upon a 15% annual turnover and an increase in profits of 5% over the current year. However, Henry is uncomfortable with these numbers. He is not sure whether he can achieve these targets and he does not want to guess.
In order to achieve his goals, Henry must find a way to consider the results he has planned and determine whether changes to resources, budgets, processes, pricing, products or sales will produce the results he wants. MultiUnion has a diverse set of systems and information sources and any such ‘what if’ analysis Henry might wish to execute would take IT resources and business analysts to complete. Even with this information in hand, Henry is not confident that he has the most recent, most reliable information he would need to make the right decision and recommendations.
Henry used the ElegantJ BI solution suite to satisfy the defined requirements. This solution provided simple, swift data integration and analytical capability and was easy and cost-effective to implement. To complete his planning exercise, Henry uses ElegantJ BI to perform a series of ‘what if’ analyses and sensitivity analysis. As he views the predicted results for each set of ‘what if’ parameters, he can adjust those parameters to determine the effect on profits and on the bottom line. He can analyse various scenarios and create a presentation that displays a short list of options for discussion with the executive team and the board of directors.
Henry and executive team selected the best option to ensure annual results, improve sales and keep the enterprise on track for market growth. The strategy includes an aggressive marketing campaign with an increased marketing and promotional budget to support the three regions that will ensure the most growth and success and moderate and optimise the marketing budgets for other regions. The strategy also includes a change in suppliers to reduce the cost of raw materials and a reduction in indirect costs. The final factor in the new strategy is an increase of 5% in the employee incentive program.
Because ElegantJ BI ‘what if’ and sensitivity analysis provides a clear picture of results before the new strategy implemented, Henry and the executive team can stop guessing at results and start generating increased revenue and market success!
As Henry’s Case Study illustrates, the ElegantJ BI ‘what if’ and sensitivity analysis features provide the foundation for critical focus to ensure that no activity, strategy or goal is misdirected. Analytical results are simple to understand so users can quickly improve the accuracy of decisions. This functionality is not available as a standard feature in most Business Intelligence or Corporate Performance Management products. It is a distinctive, differentiating factor in our ElegantJ BI solution.
Choose the Right Option to Ensure Success – Consider the impact of a change to a product, service offering, resource allocation, budget reduction, project schedule, pricing, raw material costs, labour costs, or other factors and compare that change to other options to ensure that you have considered all factors and all possible impact resulting from each option.
Predict and Forecast Results without Risk – Select the appropriate option and predict and document results to determine the long-term and short-term results and plan for necessary resources, training, funding and competitive response.
Collaborate and Share Options and Choices – Cascade flexible, graphical perspectives and cross tab views to share information with colleagues, other divisions, departments and stakeholders and collaborate on required changes to processes and possible impact to the overall objectives, goals and strategies currently in place in the organisation.
If you need a rich, intuitive business intelligence environment, coupled with robust features and What If Analysis Tool, we encourage you to contact us today to discuss your unique requirements and get started with the Business Intelligence Tool, ElegantJ BI. Email us at sales@ElegantJBI.com
The ElegantJ BI Business Intelligence and Corporate Performance Management suite is compatible with all popular Smart Phones and tablets including iPad and iPhone as well as Android Smart Phones and tablets. Your team members can use a Smart Phone or tablet to access the complete suite of Business Intelligence and Corporate Performance Management modules and leverage our powerful features, including personalized, intuitive dashboards, exception alerts, KPI Monitoring, Analytics, graphical mining and reporting.
ElegantJ BI transforms vision into reality! Our powerful impact and sensitivity analysis tools enable your team to accurately determine the root cause of a business issue and to plan for the right resources, funding and changes at the right time. You won’t have to guess at the right number, or wonder if you are solving the right problem.
BI goes beyond the world of spreadsheets and report writers to provide an intuitive, unified view of integrated data from numerous sources and systems. It enables every business user, executive, and manager to create a view of data that is meaningful to their role and to analyze data with drill down, drill through, and slice and dice analytics to simplify the use of business intelligence.