Data and analytics consulting empowers organizations to obtain and identify relevant data and transform this data into business decision and rules. Improving the quality of decision-making can result in measurable improvement in business performance. At Inductis, Data and Analytics Consulting provides custom-made data-driven solutions to a variety of business applications. Apart from statistical modeling and data analysis, the focus is also on understanding business challenges and delivering action oriented solutions. The key innovation is a powerful merger of statistical data mining and management consultancy.
Often corporate organizations collect and maintain abundant data (e.g. customer records, sale transactions) and exploiting hidden relationships in the data can provide a competitive advantage to the organization. Data and Analytics Consulting helps such organizations by providing both specialized tools to analyze the data and methods to reap the benefits from analysis of the stored information. Data and Analytics Consulting can assist businesses with complex risk minimization methods, advanced marketing strategies, internal cost analysis, inventory management and other logistic issues within the organization. Some other applications include optimizing supply chain management, tracking key performance indicators, uncovering hidden sales opportunities and determining runaway costs. For each business sector, the Data and Analytics Consulting at Inductis defines profitable, customer-centered strategies and delivers innovative solutions that drive value for each business. In addressing these issues, there are crucial data gathering and analysis phases which involve thorough data exploration, statistical modeling and a fair amount of technical sophistication. Although the framework employed is very general, a skillful team of statisticians, econometricians and consultants identifies specific models, analytical techniques and business principles that are unique to the requirements of each project.
The Data and Analytics Consulting process at Inductis consists of three stages - design, develop and deliver. In the 'design' stage, the objective is to understand the core business challenge and lay out an analytics solution. In this stage the amount of data and resources available are examined. The 'develop' stage consists of gathering and managing available data. In many cases, data from external sources are incorporated to make more meaningful inferences. This is followed by advanced data analysis and modeling with the use of a wide range of analytic software (SAS, CART, MARS, JMP, R, SPSS, Excel, etc.). Modeling approaches such as classification and regression trees, multivariate linear regression and other advanced techniques are used in building each model. With some amount of manual intervention the models are fine-tuned and revalidated to improve performance. Improved performance leads to more reliable business decisions based on relationships within the data. In the 'deliver' stage, the learned models are employed and the results are interpreted to form coherent business rules that are implemented in a client environment. An important aspect of the Data and Analytics Consulting process is that every stage is overlaid with a systematic quality assurance process to ensure the application of high methodological standards throughout the project design, development and delivery. Apart from overall validation the quality assurance process at Inductis ensures the use of analytic models that are grounded in sound statistical and data mining practices. |
