Forecasts and simulations play important roles in planning and decision support. Simulation processes based on a business intelligence system can take into account all important influences from all areas of the company and the business environment. The effects of individual decisions or developments can thus be played through and illustrated. Simulations ultimately help to improve the quality of planning in all areas of the company. The BI platform provides special features for creating forecasting and simulation models.
The technological basis of these simulation functions is BOARD Enterprise Analytics Modeling (BEAM). The automated forecasting models created with BEAM provide very fast results, which are immediately displayed as values in the respective application. The big advantage of BEAM is that without statistical expertise it is possible to develop forward-looking analytical models. This allows even self-service users to use predictive and advanced analytics for their planning and decision support. It’s easy to make accurate forecasts that can be used as input for more analysis, reports and dashboards. Among other things, BEAM makes it possible to automatically form clusters of similar objects.
Other statistical functions, such as standard deviation and special algorithms, are also included in the scope of functions. The forecast models can be used to test different scenarios. Variations in key factors make the impact of individual decisions, including business profits, clearly visible. Once created, models can be adapted and further developed, for example, by adding new markets or products or by simulating investments.
A change in underlying data automatically affects all related values. The Reverse Algorithm function also allows the transfer of percentage changes to all calculated quantities. Its ability to simultaneously manage a value and a formula in a cell is particularly advantageous compared to spreadsheets. Comparative simulation models enable you to test and evaluate different scenarios.
Support by bdg
Since 2004, bdg has been working in the field of Business Intelligence and has implemented numerous customized BOARD solutions for different clients. As a BOARD partner we support our customers in using the platform to help them to achieve greater transparency and entrepreneurial success. Part of our job is to build the BI concept, implement the software, and make customizations. Furthermore, we are available for ongoing support. Regardless of the industry, we work for medium-sized and large companies as well as for various organizations.