Predictive and Business Analytics Software
Pilbara Group has developed the ability to create predictive analytics models inside our standard business analytics software, ACE, based on historical cost models.The general process is to use these past cost models and analyze the relationships between the inputs (resources) and outputs (products/services) using advanced mathematics including regression analysis, and then designing a predictive model based on a series of algorithms derived from actual historical cost models.
These predictive analytics models are more than just raw data analysis and algorithm development, they are based on real cause and effect relationships identified in the historical cost models. This provides a very solid foundation from which to predict the future outcomes based on changes in inputs.
Because these models are based on our standard historical cost models, they also provide you with the major benefits of multi-dimensionality; the models can be analyzed across a range of different dimensions and measures.
From a technical perspective these multi-dimensional models are avaialble in Microsoft SQL Server Analysis Service (OLAP) Cubes and can be analyzed via our standard ACE reporting functionality or via our partner solutions including Microsoft Excel / Powerpivot or IBM Cognos solutions which both provide sophisticated analysis capabilities on our very detailed multi-dimensional data cubes.
Because the ACE software is extremely flexible, it is relatively easy to configure the model once these relationships have been established.
These models have been built for a range of industries and can be developed for our specific Industry areas of expertise including:
- Health Care
- Miitary
- Higher Education
- Telecommunications
- Oil/Gas
An example of the higher education solution is described below, this uses our standard business analytics software, ACE to build historical models of the University and then these historical models are used to create the predictive analytics models.
In order to help university educators and administrators better understand the financial impact of changing enrolments, introduction of new units or courses or even the introduction of an entire new campus with all the inherent staff and students that such an undertaking brings, Pilbara Group has developed methodology and software to accurately predict the impact such changes have on an organization and its profitability.
This predictive model allows the creation of any number of future scenarios and is a university wide model which can show the impact on the bottom line of various changes that are introduced. The model can incorporate and the show the impact of:
- New courses/units;
- Changes to funding arrangements;
- Changes to student numbers.
To download a brochure of our Predictive Model solution for Higher Education please click on the following links:
United States: PG-MB-UnivPredictiveModel-US-5.pdf
Australia: PG-MB-UnivPredictiveModel-A4-3.pdf