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Analytical Consulting
Decision Analyst’s Advanced Analytics Consultants rely on the scientific
method, experimental design, mathematical modeling, simulation and optimization
to answer marketing questions (Marketing
Science) and solve a range of operational and managerial problems
(Operations Research and Management
Science). Our consultants work closely with clients through each
of the following stages:
- Defining Objectives. This is the most critical
stage. Much time and effort is devoted to precisely defining the objectives,
the exact nature of the problem or opportunity, and the success criteria.
Alignment meetings and interviews involving senior decision-makers are crucial.
Without senior management support, analytical projects go nowhere. Often exploratory
research is used as an additional investigative tool to precisely define the
issues and possible solutions. Accurate definition at the outset is essential
to ultimate success.
- Developing Hypotheses. What are the likely causes,
key variables, and possible solutions? Typically, Decision Analyst researchers
interview client executives, visit with store employees, talk to customers,
observe manufacturing processes, ride the delivery trucks, etc., to learn
and explore. The challenge at this stage is to learn from those on the firing
line, but to question everything and to see everything through fresh, unbiased
eyes.
- Defining Data Sources. What objective data is
available that might help explain or illuminate? What other data might be
needed? Will controlled experiments be necessary? Can secondary data play
a role? What is the best way to collect and organize this data to assemble
the analytical database?
- Exploring the Data. Often times the data itself
can lead consultants to new understanding and new hypotheses or help refine
hypotheses. So, typically, a series of exploratory analyses of the data are
undertaken to let the data tell its story independent of human biases. This
helps provide the insight and understanding needed to build sophisticated
simulation models.
- Building Mathematical Models. The goal of model-building
is to simulate or represent the real-world system of interest, so that scientific
experiments can be conducted. With simulation models hundreds or even thousands
of possible solutions can be explored, to identify optimal solutions under
differing conditions or constraints.
- Finding Optimal Solutions. Out of the thousands
of possible solutions, Decision Analyst identifies a small set of optimal
or near-optimal solutions to recommend to the client.
- Creating the DecisionSimulator™. One of
Decision Analyst's deliverables is the DecisionSimulator™. This simulator
allows clients to explore “what if” scenarios on their desktop
computers with a few clicks of a mouse, as conditions or constraints change
over time. This extends the value and the life of the optimization work.
Analytical Consulting Services
Decision Analyst’s strengths in statistics and mathematics, simulation, modeling, and optimization provide the analytical foundation to address complex
business and strategy issues.
If your company is facing tough, complex decisions, and wants to improve its
strategy and performance, Analytical Consulting offers powerful tools to help
you make the very best decisions. If you would like to learn more or discuss
a specific topic with one of our consultants, please contact us by emailing
Jerry W. Thomas (jthomas@decisionanalyst.com),
John Colias, Ph.D. (jcolias@decisionanalyst.com),
Beth Horn, Ph.D. (bhorn@decisionanalyst.com),
or Rod Carver, Ph.D. (rcarver@decisionanalyst.com)
or by calling 1-800-ANALYSIS (262-5974) or 1-817-640-6166.
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