Data analytics has huge potential to predict and forecast future performance and this is already proven in big companies full of historical data. With the declining cost of computation, the mathematical wizardry of predictive data analytics is already at arm`s length for small and medium enterprises lacking the resources of the big players.
From the Facebook ability to curate information flow designed for you, to the ability to read the human genome, modern data analytics has a lot of applications in different forms and shapes. So does the energy sector.
Businesses can apply analytics for reaching insights into every process and to explore optimization opportunities. Starting with better-managed operations to the demand side of commercial channels but analytics also is opening a lot of new opportunities related to smart grids, smart homes, renewable energy, etc. Since at A4E we are tempted by all things analytics, in this blog post we share real-life application of energy data analytics.
Important trends rarely happens overnight and furniture industry is no exclusion. Overall the market is on the rise with constant growth, esp. on matured markets. The healthy market definitely is good news for furniture retailers and stores, who are a main branch in the selling cycle of the industry. But there are few crucial trends that decision makers should keep an eye on.
Just like forecasting future sales modern data analytics is able to forecast a lot of other things including the next Oscar-winning movie. Usually, predicting Oscar winners is a tradition among movie fans and media but a couple of tech companies claim that the winning movie might be pointed through data analytics.
This way they have predicted that The Revenant, starring Leonardo DiCaprio will be named as Best Picture at the 88th Academy Awards. And they were meticulously accurate!
To have a crystal clear notion of upcoming restaurant sales is crucial for efficient business. Sales forecasting is addressing this very issue with some interesting approaches.
It is true that a restaurant owner knows his business better than anyone. But it is also true that there are some wastes, not matter how good you are into business planning which is also time consuming. This is what sales forecasting is doing for restaurants – it manages the tiny balance between the necessary stock products sufficient to meet the customers demand while keeping wastage levels to a minimum.