Retail isn't an easy place to be these days. The environment is omnichannel and ever-changing. Competition is rising and retailers are struggling to understand how to best meet customers’ merchandise preferences. Fortunately, analytics are driving profitability and market share for smart retailers. Let’s take a look at the four hottest
Typical Business Forecasting Process Let’s look at a typical business forecasting process. Historical data is fed into forecasting software which generates the "statistical" forecast. An analyst can review and override the forecast, which then goes into a more elaborate collaborative or consensus process for further adjustment. Many organizations also have
In a previous blog article, Risk Data Aggregation and Reporting – Why now more than ever? – Part 1, I have discussed the requirements of the paper of the Basel Committee numbered 239 and one of the reasons the execution or application of the principles discussed therein is important for
La volatilidad de demanda y expansión de portafolio de productos, así como la persistente presión de alinear los costos de la cadena de suministro con la demanda del mercado, son solo algunos de los retos que enfrentan las organizaciones de industrias como manufactura, alimentos y bebidas, farmacéuticas o automotriz. La
Machine learning is taking a significant role in many big data initiatives today. Large retailers and consumer packaged goods (CPG) companies are using machine learning combined with predictive analytics to help them enhance consumer engagement and create more accurate demand forecasts as they expand into new sales channels like the
Digitalization - the move towards a more digital world - is a well-established phenomenon. But the digitalization journey is not the same in every sector. Traditional practices, available skills and competitive forces are creating a new set of dynamics in the credit risk sector. Providers are coming under significant pressure
With my first open source software (OSS) experience over a decade ago, I was ecstatic. It was amazing to learn how easy it was to download the latest version on my personal computer, with no initial license fee. I was quickly able to analyse datasets using various statistical methods. Organisations
Data science may be a difficult term to define, but data scientists are definitely in great demand! Wayne Thompson, Senior Product Manager at SAS, defines data science as a broad field that entails applying domain knowledge and machine learning to extract insights from complex and often dark data. To further
The world nowadays is full of all sorts of data. With so much information from such a wide range of sources being compiled on a daily basis, we need to be capable of processing and analysing it extremely quickly. We also want information and knowledge immediately to hand, and are
It was John Allen Paulos who said, “Data, data everywhere, but not a thought to think.” That rings true more than ever before. Companies are struggling with the deluge of data coming at them from multiple channels. But traditional data channels are just the beginning. Companies also are facing an
Inventory is a result of decisions. Inventory is not the problem... the problem is the decisions. I recently had an interesting conversation with the VP, Supply Chain at a leading global manufacturer. He is not happy with the results from the inventory optimization he is using. He was told inventory optimization
Editor's Note: There are hundreds of breakout sessions happening at SAS Global Forum in both the Users and Executive programs. Since we couldn’t just pick one to highlight from opening day, we decided to put together a SAS Global Forum day 1 session roundup, highlighting some of our very favorites! The
On the search for some SAS notes, workarounds or sample code? What you may not know is that there are a ton of SAS resources out there providing examples, tips and tricks that are great to have in your tool belt! Many of these resources provide sufficient insight and resolutions
I had the opportunity to interview an award-winning, fast-moving, consumer packaged goods (CPG) company in the early 2000’s. They were recognized as one of the best supply chain companies in the United States by all of the major retailers and their CPG peers. Indeed, it seemed every time a new
Editor Len Tashman's preview of the Winter 2016 issue of Foresight This 40th issue of Foresight begins with a review of the new book by Philip Tetlock and Dan Gardner with the enticing title Superforecasting: The Art and Science of Prediction. Reviewer Steve Morlidge explains that …the “superforecasters” of the
Universities using data is a topic close to SAS’ heart, and in a recent blog we talked about the specific challenges that UK universities face in attracting and keeping students, and how data can help universities better understand the student lifecycle. The first Universities and College Admissions Services (UCAS) deadline
The Internet of Things (IoT), sensors and connected devices are all the buzz leading up to DistribuTECH (Feb 9-11), so I sat down with one of our IoT specialists, Lorry Hardt to learn more. Lorry will be at DistribuTECH to support our joint demonstration with Intel and gave me the
A successful energy savings program is a good thing for utilities, right? The truth is, that success can result in unintended consequences. One of our utility customers shared this example with me recently: "Let’s say we offer a free LED light bulb to every customer, and everyone removes an old bulb that used 75
In 2014, big data was on everyone’s mind. So in 2015, I expected to see data quality initiatives make a major shift toward big data. But I was surprised by a completely new requirement for data quality, which proves that the world is not all about big data – not
Macroeconometrics is not dead: (and I wish I had paid better attention in my time series course): I wrote this on the way to see one of our manufacturing clients in Austin, Texas, anticipating a discussion how to use vector autoregressive models in process control. It is a typical use
All of us in the retail and wholesale industry, regardless of role, are responsible for the same objectives: Increase customer satisfaction, inventory productivity, and profitability by way of localization and omni strategies. We've learned that our best strategies sometimes fall short; we spend significant effort analyzing, only to achieve marginal results. Many of
Healthcare IT News recently published an article on 18 health technologies poised for big growth, a list culled from a HIMSS database. The database is used to track an extensive list of technology products that have seen growth of 4-10 percent since 2010, but have not yet reached a 70
Healthcare IT News recently published an article on 18 health technologies poised for big growth, a list culled from a HIMSS database. The database is used to track an extensive list of technology products that have seen growth of 4-10 percent since 2010, but have not yet reached a 70
It’s rather appropriate that the rock band Europe recorded the hit “The Final Countdown”, because today, September 22nd, represents 100 days until the much anticipated (and delayed) European insurance legislation Solvency II will come into effect on January 1st 2016. Designed to introduce a harmonized, EU-wide insurance regulation, Solvency II
with Natalie Osborn, Senior Industry Consultant, Hospitality and Gaming Practice, SAS This week, we continue our fall “back to the basics” refresher series on analytics for hoteliers. Last week, in part one, Natalie and I reviewed the analytic methods that can be utilized by hoteliers. This week we will explore
There are four key areas that require continuous investment in order to become demand-driven: people, process, analytics, and technology. However the intent of your demand forecasting process along with business interdependencies need to be horizontally aligned in order to gain sustainable adoption. Adoption alone doesn't necessarily mean it will be sustainable. As
SAS is hosting this year’s European Analytics 2015 conference in Rome November 9 – 11. This three-day inspiring event will give you the chance to boost your company’s analytics culture in an international environment to make sure your knowledge and expertise meet the demands of the digital era. But what if
You know that feeling when all your ducks appear to be in a row, all the numbers add up, all the boxes have been checked, but you’ve still got a sneaking suspicion that something is wrong? I’m not talking just gut feel here, more along the lines of, “The logic
The real reason companies cleanse the historical demand is that traditional forecasting solutions were unable to predict sales promotions or correct the data automatically for shortages, or outliers. To address the short comings of traditional technology, companies embedded a cleansing process of adjusting the demand history for shortages, outliers, and
We often hear questions like: Are the shared service chargebacks to my business units’ cost centers accurate and transparent? Will I save any money by using a centralized shared service? Why should I consider a centralized shared service? These are all good questions. To answer them, you need to understand
