Business Analytics and the Data Driven Organization Assignment Help
Analytics case study(Part 1)
An outage of goods is a negative issue for every commercial business entity. However, outage from the side of the supplier or producer can be predicted. Using internal and external data analysts can predict the probability of outage and make in time orders.
To prevent the occurrence of product outage executive of the department of analytics, planning department, or product department, – the primary stakeholder, the most seemingly would provide the analysis of supplies and sales of each item and would decide to order enough quantity of goods in advance. To supplement this decision the analyst (or the group of analysts) must answer for the next 5 questions:
How frequent is the delivery of products provided by each supplier?
What is the probability of future occurrence of outage from the supplier’s side?
What quantity of each item was ordered from suppliers in past periods?
What quantity of each item was sold in the past period?
Depending on the expiry terms is it possible to order more items of each product for longer periods?
To answer the questions mentioned above, analysts must collect and investigate both internal and external data. External data are needed to answer the 1st, 2nd, and 5th question. The analyst may make a request to suppliers about the frequency of their supplies and expiry terms of each item. The probability of outage occurrence must be evaluated through the complex analysis (SWOT, PESTLE) of external factors influencing suppliers and producers of goods. Independent business analytics and economic reports are the sources of information needed to identify external factors. Internal data in the form of statistics of sales and supplies will provide answers for 3rd and 4th questions. Indeed, the task requires big data analysis, hence, such systems as ERP would be very helpful to analyze sales and supplies.
To conclude, the analytics of internal and external data of the business entity allows the prediction of negative outcomes caused by the outage of goods. Complex estimation of external factors allows the prediction of an outage. Collection and analysis of internal data and statistics allow taking actions beforehand to avoid the lack of goods in the supermarket.