Why use L&A for data analytics?
Using data analysis techniques to qualify issues in quantitative terms helps managers make better decisions, reducing the necessity of going with intuition.
Big data analysis can be used to successfully predict future events, such as customer behaviour, sales patterns or trends in products or supply chains. It can help anticipate the results of efficient strategies, timelines and model outcomes as a quantifiable impact.
L&A currently use data analytics with clients to assist in detecting events trends before they occur. This assists managers by providing predictions that can make operations more efficient.
We use classification to predict:
- Events, such as the number of resources required at locations to meet customer demands.
- Driver behaviour to identify smooth, normal and extreme driving patterns.
We effectively model seasonal effects, for instance when more resources are required to meet demand from one day to another or sales volume varying from one sales cycle to another. We also use survival data analysis for preventative maintenance, to predict when certain events are likely to happen.
L&A has strong working relationships with members of the Complexity and Network Group at Imperial College London and the Director of the Centre for Complexity Sciences at Warwick University, with whom we collaborate on big data analytics queries and R&D projects.