Archives Jack Williams

Predictive Analytics – Will It Change The Way We Plan?

In this age of big data and high-speed information processing, companies need a business intelligence (BI) solution to help them sift through the mountains of data produced every day. Tesco’s alone handles more than 1 million customer transactions every hour, just imagine how they process this data?

To make informed decisions, businesses use predictive analytics solutions to analyse data. To effectively process data, it is important that organisations use the best software programs that will suit their business model. Decisions that affect profitability or loss cannot be made without predictive analytics. So a careful selection process should be followed before choosing a software that will help your business grow.

A predictive analytics solution allows the user to embed advanced analytical and predictive capabilities into your companies’ business processes with the agility necessary to operate at the ultra-rapid pace of today’s business. And do it in a simple way, allowing business users to take the lead, without having to depend on an army of experts as necessary with the traditional data-mining and analytics products.

Advancements in predictive analytics will have implications beyond business’s technological capabilities. Organisations will meet new challenges in terms of skills, implementation and much more. How can business managers prepare for change?

  1. Policy changes that welcome predictive analytics solutions

If business intelligence and predictive analytics are to assume a central position in a managers toolbox, a few major hurdles will need to be overcome.

Although it is inevitable that predictive analytics solutions will be adopted en masse, the truth is that many executives are stuck in their old ways. Predictive analytics can help businesses make smarter and faster decisions, but managing data, people, and technology may require some implementation and policy changes.

  1. Companies must have access to high-quality data

Data is the greatest deterrent in the adoption of predictive analytics solutions within organisations. The quality of your data is a direct reflection on the type of business intelligence solution you adopt. High-quality data will be consistent in any format and will enable executives to make reliable decisions and forecasts.

  1. Recruiting and training for the right skills

Predictive analytics technology is growing in sophistication, and so must our skill level, but knowledge in the industry is not advancing at the same pace.

A Capgemini report discovered that 77% of companies view the lack of skills as the greatest hurdle to overcome for a successful predictive analytics transformation. Given its potential for use in every business function, it is an area that requires more training and expertise.

Predictive Analytics Leads to Effective Preventive Maintenance

Some companies use a preventive maintenance model to plug the gap caused by a downtime and the only way to identify these fault areas is by using a predictive model. Below are some of the benefits of a predictive and predictive business model.

  • Better asset productivity
  • Longer lifespan for operational asset
  • Improved efficiency from data analysis
  • Reduced business costs
  • Effective budgeting

For a preventive maintenance model to be effective, all relevant data must be captured and analysed. Hence a business intelligence and predictive analytics solution must be in place to ensure that the data captured is a true reflection of what the organisation is to expect.

Core Intelligence Post Event Pack & Slides

Thank you to all those who attended the CFMS Core Intelligence Conference in January.

For those who were not able to make it, or for anyone who would like a recap of the day’s events – on this page you will find the post event pack including the questions and answers from the Q&A session and the PDFs of all the slides used during the CFMS & Infor presentations.

Once again we thank you for coming and we hope to see you again soon!

nextyear

CFMS Post Event Pack

Screen Shot 2017-02-03 at 10.18.54

 

Infor Session 1: d/EPM Overview

Screen Shot 2017-02-03 at 10.34.44

 

Infor Session 2: Driving Growth with Predictive Analytics

Screen Shot 2017-02-03 at 10.34.52

 

CFMS Dashboards Presentation

Screen Shot 2017-02-03 at 10.57.51

 

 

Monaco Resources Chooses CFMS & Infor for Their Consolidation and Reporting Solution

CFMS are delighted to announce that Monaco Resources has chosen CFMS and Infor for their consolidation and reporting solution.

Global markets have become increasingly competitive. And at the same time, the pace of strategic planning is accelerating and driving the need for deeper, more effective information management. These changes have quickly outpaced traditional software’s ability to monitor and predict business performance.

Infor Dynamic Enterprise Performance Management (Infor d/EPM) offers intelligent business and financial performance management capabilities, so you can drive your overall business performance more effectively. With Infor d/EPM, users have greater insight, so you can make more informed decisions across your enterprise.

Monaco Resources Group is composed of divisions operating across the commodities sector focused on realising a consistent supply of product to its customers. Managed by leading industry experts and with offices across the globe core lines of business for Monaco Resources are metals & minerals, agribusiness, energy and logistics technologies.

CFMS Wins “2016 UK Jedox Partner of the Year Award”

award-header

Jedox honours Business Intelligence and Enterprise Planning specialists at the Jedox Global Partner Summit in Berlin.

CFMS has been announced as the winner of the “2016 United Kingdom Partner of the Year Award”. CFMS was honoured among a global field of top Jedox Partners for excellence in providing trusted, innovative, and user-centric BI and Enterprising Planning Solutions built on Jedox Technology. The award was presented at the Jedox Global Partner Summit in Berlin.

“Year after year, CFMS continues to deliver outstanding Jedox solutions to clients in the UK. As one of our strongest partners overall, it is with great pleasure that we present this award for the outstanding work they have completed. It is with great anticipation and much hope that we look forward too strengthening our partnership in the future,” said Andreas Simon, Director of Sales EMEA, Jedox.

“Jedox and CFMS together create powerful solutions for companies seeking to simplify their planning, reporting and analysis” said Bernd Eisenblätterr, CSO, Jedox. “Partners like CFMS are setting the standard for innovation and making significant and valued contribution towards the joint international growth of Jedox and its partner ecosystem.”

The Jedox Partners award honours outstanding achievement and excellence in the Jedox Partner community. Award winners are recognised for their commitment to Jedox market development, their focus on customer satisfaction, and for achieving year-over-year sales growth.

Commercial Director at CFMS, Richard Keizer, added “The team at CFMS are delighted to accept this honour from our partners at Jedox. We would like to thank Andreas Simon, Bernd Eisenblätterr and many others at Jedox for their ongoing support.”