Track Your Business With Drill Down Analytics
Companies have revolutionary products and visionary approaches, however is it aligned with their business performance?
A perfect method is the drill down analytics design, suitable to a company’s budget and technological landscape.
Rubikon offers analytics solutions to its clients by breaking it down into different phases of data analytics. We have been able to render top down solutions to our client to expedite strategic decision making.
In the current blog we would focus on the first two sets of questions that are pivotal in answering critical business questions. What and Why? Essentially, describe and diagnose the state of your business.
At Rubikon we have spent quality time on data discovery and mining information from it. With a concoction of technological know how and conceptual clarity we have offered fruitful solutions to our clients. Lets elaborate the two concepts with some of the case studies we have delivered.
Descriptive Analytics
At the descriptive stage we look at the facts and answer what happened? This method highlights the importance of developing KPIs and presenting them to decision makers. Henceforth as a basic step, we scratch the surface of the data for a quick glance of periodic business activities.
Case Study 1
Problem Statement:Our client who is in the Logistics domain, sought to gauge stages of request fulfilment of trucks as a first step towards finding an association between demand/supply and price.
Solution Offered: An initial descriptive analysis helped them identify details of the trucks attracting market traction and their performance at different stages of Order Fulfilment . We created an extensive report on orders received, customers and partners analysis etc. This helped them grab the flow of their business operations.
Case Study 2
Problem Statement :Moving forward, we had to analyze the retention of trucks, for which we performed trucks cohort analysis.
Solution Offered: The cohort analysis brought forth extreme attrition rates at truck levels. This could be a pointer towards the reason for high demand and low supply for some of the locations.
Above report enabled clients to see the ground reality of repetitive decline in their cohort volume.
Diagnostic Analytics
Based on descriptive analysis, we identify areas that require further study which could not be observed straight from the data, but requires understanding behaviours and causes of events.
Given the business KPIs, the cause and effect relationship is determined by analyzing why it happened?
Case Study 3
Problem Statement:Post the descriptive analysis, our client wanted to understand demand and supply in line with the theory of Law of Demand and Supply.
Solution Offered: Correlation was drawn between demand and price along with supply and price by considering R-square value in a linear regression model for independent X (demand/supply) and the dependent Y(Amount) variables.
The regression technique figured out the issue in determining relationship between demand/Supply and price possibly due to:
- Ineffectiveness of demand and supply on pricing
- Other possible market conditions are leading the behaviour of price
- Issues of integrity in the data captured for demand and supply
The client used this report to address the need to sanitize data for their new upcoming project.
Such analysis and the value it adds to our clients decision making capabilities has been critical in adding on to our clients’ satisfaction levels
Alongside, it’s important to highlight that such reporting requires expertise and flexibility in adapting to the technical requirement of the use case.
Technological Expertise
Our expertise lies from data wrangling in Excel, right at the beginning of the ladder to Big data technologies like data processing in Spark, Hadoop and Cloud platforms such as AWS, Azure and others. We have queried data in Presto SQL and have created dashboards with Business Intelligence tools as Quicksight, Power BI and Tableau and others.
We customize our business solutions in accordance with company size and technological landscape.
Takeaways
These are some of the case studies where we have been able to derive insights and correlations between events and its plausible cause.
Eventually with both descriptive and diagnostic analytics we have been able to highlight critical business facts to our customers by providing holistic solutions across industries.
In the upcoming blogs we shall discuss our solution designs in Predictive and Prescriptive analytics.