Nihilent Analytics Limited

While Business Intelligence models are usually used to answer queries, generate reports and notify alerts, Business Analytics uses advanced mathematical and statistical tools to answer deeper questions on underlying causes and trends. In other words, Business Intelligence tells you what is happening and Business Analytics explains why it is happening and what is likely to happen in the future.

ICRA Techno Analytics is one of the few IT companies with the statistical expertise to effectively analyze your business process data, identify key parameters, establish correlations and develop accurate predictive models to weigh alternate action plans. We can provide critical inputs to improve decision making, thereby saving costs and minimizing risks.

To improve business efficiency, statisticians have been able to develop complex algorithms which are now standard tools for data mining experts to help managers to take decisions based on hard facts rather than on gut feel.

The ICTEAS Business Analytics practice is designed to identify, analyze and create value from the significant business processes and data of your organization. Our statistical and modeling teams carry out Data warehousing, Reporting and Analytics using business intelligence, reporting and analytics tools which cleanse, transform, analyze and interpret data to discover past behaviour, predict future trends and analyze risks. Through the application of these processes, our clients gain better overall data management capabilities and are armed with the information with which to make proactive, knowledge-driven decisions.

Our teams have expertise on Clementine, JMP, Minitab and Crystal Reports - a variety of popular business intelligence tools that cater to the uniqueness of data from the finance, healthcare, channel management, manufacturing and supply-chain industry.

In theory, these reports and analysis help to plan product and marketing initiatives for the future. But quite often, despite having the most updated sales data warehouse, it is not possible to understand why customer loyalty sometimes drops or sales fail to respond to marketing stimulus as expected. A few other common issues have been mentioned below.

Further, if data on sale prices, product costs, past promotions, etc. are available then sophisticated data mining techniques used by ICTEAS reveal impact of current sales trends on margins, optimal mix for improving margins, impact of promotions customer segment-wise and plans for new promotions.

These are just a few of the areas where ICTEAS can help your managers take better actionable decisions and improve the bottom line.

Spend Analytics is a specialized branch of Business Analytics that focuses on improving visibility of procurement information. It is particularly useful for large multinational corporations, which frequently spend millions of dollars on a single item. Reported savings range from 5-45%.

In such organizations conventional expenditure analysis can prove misleading or incomplete. For one, the data may be fragmented across a variety of systems. It may not be formatted or coded for easy classification. Vital items be differently described and categorized in different countries or even in the same country. For example 'computer', 'desktop', 'PC', 'laptop', 'server', etc. all refer to similar devices. One ICTEAS client saved about 10% on hardware procurement costs by simply identifying and consolidating purchases among a few international vendors.

Spend Analytics can be used to determine spend by commodities, products, services and suppliers. It can also identify and rank your critical suppliers to increase procurement efficiency and bargaining power.