Vanguard Business Analytics Suite Review

Predict Outcomes And Identify The Best Course Of Actions Through Forecasting

Vanguard Business  Analytics Suite is an excellent business forecasting solution because it simplifies how users apply predictive analysis to their data. The suite enables them to easily import historical data to its system, and it helps them identify trends and patterns within the data. Having a deeper understanding of possible outcomes and consequences based on such trends and patterns, they will be able to determine the best possible course of actions and create effective business plans and strategies to solve issues and problems.

Multiple Ways To Prepare And Run Forecasts

In Vanguard Business Analytics Suite, forecasts can be executed in various ways: automatic, semi-automatic, and manual. In the automatic approach, the solution automatically chooses the best forecast method and parameters. If users want to manually select a forecast method they prefer and have the solution automatically select the best or optimal parameters that are specific to the forecast method they selected, that is made possible through the semi-automatic approach. Meanwhile, the manual approach of running forecasts gives them the freedom to select the forecast method and parameters on their own.

Decision Tree Analysis And Divide And Conquer Approach

The suite of business analytics solution uses a familiar tool and method for modeling and analyzing business decisions and their possible outcomes and consequences which is known as decision tree analysis. Decision tree analysis permits users to divide a complex problem into finer and simpler components and elements. The logic behind this is that a general problem can only be accurately and properly addressed and resolved if its component problems are also identified and resolved, an approach which is called divide and conquer.

Determine And Balance Risks And Rewards For Each Decision And Action

As users perform decision tree analysis, they will be able to illustrate an elegant hierarchical structure and framework that shows all possible options associated with the decisions they are making, the consequences and probabilities they are exploring, and the values of outcomes they are discovering. They can also identify the risks and rewards related to each course of action, and learn to balance them so they can determine which course of action will yield the best results and outcomes.

Deal With Business Uncertainty Using Monte Carlo Simulation Models

Aside from implementing decision tree analysis, Vanguard Business Suite uses an advanced and powerful technique called Monte Carlo simulation. This is a computerized mathematical technique used for creating models of possible outcomes and results of business decisions and actions, and understanding the impact of risk and uncertainty in forecast models. The Monte Carlo simulation technique generates distributions of possible outcome values, calculating outcomes and results using different sets of random values.

Lightning-Fast And High-Capacity Monte Carlo Simulation Modeling

With Vanguard Business Analytics Suite, building Monte Carlo simulation models is a breeze. This is because it has tools and a computing power which make it easy for users to create Monte Carlo simulation models and run them faster than how they usually do it using Excel. They can even link different spreadsheet models together which are created by different contributors and people, and build a high-performance enterprise Monte Carlo simulation model; a modeling capacity which is unique to Vanguard Business Analytics Suite.

Address Resource Allocation Problems Through Optimization Add-On

Vanguard Business Analytics Suite offers an optimization add-on designed to solve the problems and issues related to resource allocation. With this add-on, users can apply business constraints to their problems and models such as budget constraints, no matter how complicated such problems and models are. The add-on can help them instantly identify the right t inputs that will deliver the best outcomes and results. For example, given their limited raw materials and resources, they can determine the right combination or mixture of products that will enable them to maximize their profits.

Automated Intelligence

The business analytics tool delivers automation features that streamline the process of extracting intelligence from data, preparing and reporting forecasts, and running forecasts for thousands of items at a time. Its automated intelligence capabilities combine software automation and advanced analytics. As a result, users can reduce the impact of inconsistent data or extreme events, take into account the changes in underlying business conditions, and explore the cycles in their business and patterns that are occurring periodically or seasonally. Interestingly, all of these are done automatically, letting users continuously gain insights into their data without worrying about complex calculations.

Forecast Wizards

Another automation feature offered by Vanguard Business Analytics Suite is its forecast wizard. The suite has two types of forecast wizards, namely Forecast Wizard and Batch Forecast Wizard. The Forecast Wizard automates the process of importing business data and creating forecasts based on such data. It guides users to automatically choose the best forecast method and parameters. In addition, it can also assist them in generating forecast reports immediately. On the other hand, the Batch Forecast Wizard is built to create forecasts for  large data sets and thousands of items one at a time. This wizard ensures that users are able to produce and run forecasts quickly and accurately.

Visual Modeling Capabilities

Vanguard Business Analytics also has stunning visual modeling features, and one of them is the ability to construct visual representations like diagrams based on formulas and logical rules applied to models. Another feature is that it enables users to generate outlines of whatever models they produced within the solution. Because of this, their colleagues and stakeholders will be able to understand the components of their models much better. In addition, its intuitive decision tree structure and interface is also ideal for illustrating analyses wherein the root node represents the best solution for a problem and the branches connected to it show detailed information and processes that explain why users come up with that solution.