Value Discovery:

Small and medium enterprises (SMEs) are increasingly making use of Business Analytics in order to gain better insights into how they run their businesses and how they can run it still better.  Application of Big Data Analytics provides an edge over the competition. Big data refer to complex, large data sets obtained from business operations – which cannot be handled by traditional data-processing techniques. The data may include financial transactions, communication, material movement, employee engagement and much more. Further, the data may be in any format like text, images, audio or video. The 4Vs- volume, velocity, variety and verifiability of data generated by SMEs is massive. Any small enterprise generates significant data which can be analysed to obtain valuable insights capable of vastly improving business metrics.  Business insights derived from the analysis of big data have made it possible for many businesses to enter new verticals.

Opportunity: 

Our approach to Business Analytics is a scientific process of transforming data into insight for making better, accurate decisions. Business Analytics is use of information from different sources, application of Information Technology coupled with statistical analysis, quantitative methods and mathematical modeling – to gain improved insight about business operations.

Methodology:

We develop Predictive Analytics based Integrated Operations Model for each business – by organising information from numerous sources. The model involves over 250 parameters covering facilities, equipment, technology, commodity modeling, quality, product specifications, raw material specifications, seller and buyer preferences, seasonal effect, market dynamics, logistics, inventory, shelf life, cash flow and payment terms. These analytics models are customised for individual business and client needs.

Benefits of Business Analytics:

  • Quality and relevance in decision-making
  • Cost efficiency, improving investment returns
  • Dashboards providing real time information
  • Improving competitiveness
  • Synergy in financial and operational thinking
  • Improving value for management while reducing risk

To know more, get in touch info@novelanalytica.com

A list of select MSME sectors which we cover include:

 

Sugar Bakery Water Paints
Food Processing Herbs Wastewater Plastic
Health Drinks Edible Oils Industrial Oils Packaging
Tea Coffee Animal Feed Biofuels Textiles
Milk, Dairy Manures Pesticides Cosmetics