While every organisation depends on historical results to plan for future sales, products and business initiatives, it is also important to combine other factors in order to understand new trends that may require your business to change a product, a strategy or other business plans. If you are to be successful in today’s ever-changing business landscape, you cannot ‘go with your gut’ or intuition. Predictive Analysis is a complex, analytical technique that takes into consideration historical data, trending and other factors and thereby ensures that your business decisions are based on the most current, accurate information.
Every business must have the capacity to forecast growth, competition, trends and customer needs or it will fall behind or fail in the market. These forecasts become the foundation for new or improved strategy, new products and services, changes in training and resource optimisation, the forging of new partnerships, and many other initiatives and processes that will define business success in the future. No matter the industry or market, your organisation can benefit from forecasting and predictive analysis to ensure customer retention, predict inventory requirements, plan for governmental regulation and industry policy changes and provide a solid foundation for growth.
Consider how ElegantJ BI, Business Intelligence Tool and Corporate Performance Management (CPM) solutions can help you to plan and forecast with complete confidence.
Our Forecasting Software and predictive analysis tools and features are cutting-edge and unique in the industry. Your average end-user can intuitively and easily forecast sales, pricing, competitive and other factors using a combination of factors and data, including trending, historical data, and automated algorithms. No programming effort is required!
Your end-users can leverage this powerful forecasting and predictive analysis capability within the integrated business intelligence (BI) and corporate performance management (CPM) environs, without the need for an additional module, utility or custom tool.
“Every year, we struggle to create an annual plan and to predict dependable sales and revenue projections”
Jonathan Brennan, Age 46, Regional Sales Manager, FMCG, Consumer Goods Enterprise
Jonathan was promoted to regional sales manager two years ago. When he inherited the position, he was immediately assigned the task of improving plans and projections for the Northeast region. He must be prepared for the annual planning cycle which begins in nine months. In the past, his predecessor used an old spreadsheet formula developed by the National Sales Manager, and the combined expertise and best guesses of his regional sales team. Jonathan is part of a national task force, formed to remedy the poor planning process and ensure that the enterprise can achieve its sales goals and build a financial base in order to fund new product development. He volunteered to research, find and implement a better planning solution and to pilot a test environment, using the new solution. If the new planning solution is successful, the organisation will implement the change across the enterprise and Jonathan will gain visibility and credibility within the national organisation.
In order to achieve his goals, Jonathan must find a way to gather information from enterprise data bases and systems and to capture and monitor sales data in a meaningful way so that he will know when his sales team is under performing and when other critical issues arise. Ideally, the new planning system should provide flexibility and analytical capability to understand market demands, provide industry-specific and regional performance indicators and metrics and offer a cost-effective solution that will enable maximum customer reach. In order to enforce accountability and enable his team to stay abreast of performance, he also wants a system that is usable by his sales team on the road and in the office. Because his end-users have varied technical skills and daily tasks, he must provide a system that is simple and easy to adopt, and one that will provide the flexibility to enable every user to see and manipulate data in a way that is meaningful to them.
Jonathan selected the ElegantJ BI solution suite to satisfy his defined requirements. With ElegantJ BI he was able to analyse his products by category, and monitor regional sales by product SKU and revenue. With this information, he produced a sales forecast which illustrates his projections in summary form and with drill-down capability so that he can review the forecast and predictions in an annual, quarterly and monthly format. Armed with this detailed data, Jonathan allocates targets for his sales team by local regions and by individual sales team members. He then establishes alerts so that he will receive automated email messages to notify him when targets are in jeopardy or when other issues require his attention. His personalised dashboard displays information in a way that is meaningful to him. Jonathan’s sales team has access to information they need and they can also design and develop personalised views to help them achieve targets and stay on track.
This solution provides Jonathan and his team with simple, swift data integration and analytical capability and was easy and cost-effective to implement. As a test pilot region, Jonathan quickly proved the value of the ElegantJ BI solution and the organisation has now embraced the solution to use in all its regions for planning and forecasting. Metrics and key performance indicators (KPIs) clearly illustrate accountability and where changes must be made. Because the organisation wished to limit IT investment and leverage the support and maintenance capability of the service provider, they chose the Software as a Service (SaaS) implementation option. The ElegantJ BI team maintains and supports the solution in a hosted environment and Ryan can relax and focus on what is important to his business success.
Here are just a few of the areas in which the ElegantJ BI CPM and BI features can position your enterprise for growth and success. We provide rich, robust features to enable timely forecasting and easily envision the future of your organisation.
Sales Planning New Products and services Competitive Targets Resources Trending Customer Satisfaction Pricing Partners Support Technology New Products Suppliers Shift Staffing Web Traffic and Sales Product Bundling Competitive Trends
The information provided on this page will give you some idea of the power of BI forecasting software and how the ElegantJ BI solutions can help your organisation to achieve a competitive advantage in your industry or vertical market. If this page does not include an overview of forecasting to meet your needs, please do not hesitate to contact us for information pertinent to your requirements and business intelligence forecasting needs.
Our ElegantJ BI Forecasting Software uses historical sales data, mathematical calculations and forecasting models to forecast future inventory requirements and it allows for seasonal fluctuations and other industry-specific realities so that your forecasting matches the natural curve of your business demand. Business managers can make manual adjustments for unusual events or demands. These Business Intelligence(BI) forecasts can feed into upcoming inventory, materials and manpower requirement planning, and help you to achieve sales targets by accurately forecasting future pricing, promotions and point-of-sale data.
Production planning is not an easy task! Both over-capacity and under-capacity can lead to significant cost issues. You need good inventory control. Instead of going with your ‘gut feeling’ to predict your needs, you must procure based on accurate information. ElegantJ BI Business Intelligence Forecasting Software enables manufacturers to predict future orders, shipments and inventory availability and effectively manage material requirement planning. Improving the accuracy of order forecasts and sharing the information throughout the demand chain improves sales, alleviates the need for “just in case” inventory and reduces planning time. ElegantJ BI forecasting can also optimise supply chain management. Managers can use forecasts to make production, procurement, and logistical plans. Make sure that the right product is at the right place at the right time, and retailers can reduce excess inventory and storage capacity, thereby decreasing costs and improving their profit margin.
Market research and forecasting are extremely helpful for launching new products. This ability to accurately forecast, allows you to create an accurate, complete product plan, including revenue generation and profits. In a typical scenario, a multi-national company launches a new product based on the results of market research and historical data. Using ElegantJ BI Forecasting Software to plan for new products can empower analysts to pinpoint exactly which market and demographic segment is most likely to buy the new product, which segment is least likely to buy the product, and which segment will buy only if there is a promotional offer or only at a certain price point. ElegantJ BI Forecasting Software ensures accurate, timely business intelligence forecasting and improves product market adoption enabling optimal resource, investment, revenue, marketing and sales planning and a successful product launch.
Retailers must find, fund, stock and sell multiple products, SKUs and commodities. Enabling accurate business intelligence, forecasting and analysis in a retail environment can be very difficult. The organisation must understand the buying behavior of its existing customers and plan to acquire new customers to ensure that the business thrives. Understanding trends and enabling accurate forecasting can ensure efficient cross selling of products and the timely placement of new products on retail shelves. This BI forecasting leads to higher profitability per customer and strengthens relationship with customers and suppliers. Forecasting for retail chains should include the ability to find and filter information and produce trending and forecasting information to help the organisation understand customer spending, product usage and adoption and other behavior. The ElegantJ BI forecasting features can also enable forecasting of future sales, out-of-stock items and inventory, and transaction volume and it can even identify customer demand!
Successful online and eCommerce business enterprises need to understand competitive pricing strategies and offer an attractive line of products to acquire and retain clients. What kinds of products and services and support do your online clients want? In today’s dynamic eCommerce environment, customer demands are constantly changing and your prospective customers are faced with more options and choices every day. This rapidly changing market environment makes accurate forecasting even more difficult. ElegantJ BI Forecasting Software will help you understand customer behaviour and provide crucial insight into the market and the trends and projected direction and buying habits of your target customers.
Web traffic analysis can help your organisation understand how site visitors are using your site and whether they are finding the information that is relevant to their needs and will result in a sale or inquiry. Critical traffic dimensions can include page views, number of page views, number of unique visitors, where the visitor originated, i.e., a referral site or search engine, and many other dimensions and parameters. These factors can help you analyse and restructure your strategy to get the best results you’re your online sales sites and partnerships. ElegantJ BI Forecasting Software will help you with eCommerce and online sales initiatives, including customer profiling, product recommendation, Availability to Promise (ATP), shipping and management of collection of funds from customers.
Financial services companies and banks perform risk management using predictive analysis. When an enterprise in this industry uses ElegantJ BI Business Intelligence Forecasting Software, they can assess both risks and opportunities through comprehensive business intelligence analysis of demographic and geographic profiles of customers. Retail finance companies, financial services enterprises and banking enterprises can find, filter and produce reports and information to forecast how many customers are likely to default on loans, and how many customers are likely to be profitable, long-term customers. With Business Intelligence Tool, ElegantJ BI forecasting features, your organisation can also determine the demographic group(s) or geographic region(s) that respond well to certain products or offerings, and the ones that are less likely to buy or respond to products, services or promotions. Equipped with this insight, your financial enterprise or institution can make decisions about marketing new products to customer segments and ensure market success and a competitive advantage.
Fraud is one of the largest issues faced by businesses. It costs the global business market billions of dollars every year. In order to improve customer satisfaction and achieve a competitive advantage in the market, customer credit ranking and rating organisations must ensure that credit applications, counterfeit dealings, identity theft and false insurance claims are mitigated and kept to a minimum. Fraud and inaccurate credit information plague many types of businesses, including those that issue credit cards, insurance companies, retail merchants, manufacturers, business-to-business (B2B) suppliers and even service providers. Using the ElegantJ BI forecasting solution can help your organisation to reduce the incidence of fraud and scams. Our ElegantJ BI Business Intelligence Forecasting Software enables firms to assess credit ratings and make accurate predictions through comprehensive business intelligence analysis of demographic and geographic customer and consumer profiles. Forecasting for customer credit rating will allow your organisation to predict which consumer profiles are likely to be profitable and to identify high-risk customers, thereby reducing expenses, improving customer satisfaction and producing accurate, quality information and forecasts that will ensure market success.
In the hospitality, travel and tourism industry, it is very difficult to predict trends and behavior. This market is cyclical in nature and subject to external factors beyond your business control, e.g., the impact of high oil prices on aviation and airlines; political, cultural, economic and social uncertainties, economic proclivities and other factors. ElegantJ BI Forecasting Software allows you to create accurate predictions and determine future call volume so you can forecast tourism demands for a particular season. Our Business Intelligence Tool, ElegantJ BI can also enable capacity planning and thereby help you to identify unused or available capacity. Forecasting allows you to analyse customer behaviour and to develop customer profiles supported by special benefit programs so you can cultivate customer. You can expand your customer base and improve customer services by identifying new customer sectors and segments and systematically changing the behaviour of existing customers – thereby maximising customer retention and lowering customer churn and turnover.
ElegantJ Business intelligence forecasting can play a significant role in the management decisions of call centres and organisations in the business process outsourcing (BPO) market. Business Intelligence Tool, ElegantJ BI forecasting can accurately forecast upcoming calling volume by examining inbound call volume and allowing you to adjust your staffing capacity to improve customer satisfaction. Our ElegantJ BI Forecasting Software helps call centers and business process outsourcing companies to increase the quality of planning and enables your team to effectively deal with significant issues related to infrastructure capacity, seasonal trends, workforce administration, resource expense, staffing capacity and shift planning.
"ElegantJ BI is very powerful and intuitive tool, we are happy to offer & implement ElegantJ BI to our clients. Their partnership program is a win-win proposition for us, and they provide excellent presales and technical support. It is great value for us as partners, and great value for our customers for their BI investments."
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.
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Combining forecasting with business intelligence technologies can help companies go from having a historical view of their business to having a more predictive view of their business. Available models in ElegantJ BI
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