Supply Chain Management

Solve Complex Business Problems with the Power of Analytics: 6 Steps for Extracting Value Faster

By Brian Cromer

September 4, 2018

Solve Complex Business Problems Faster with the Power of Analytics

Six Steps for Extracting Value Faster

Manufacturing strategies, network design, and inventory management are complex issues that present a myriad of choices and trade-offs. Developing models and running scenarios can help leaders make smarter decisions. But they need better, faster ways to analyze and understand their data.

Prescriptive analytics provides those capabilities—and the technology is not nearly as daunting as many business leaders believe. TBM uses the following step-by-step process, based on the expertise of our analytics partner, River Logic, to help companies model different scenarios and make more informed decisions.

Suggestions from prescriptive analytics shed light on the best course of action in multiple scenarios and help identify the most profitable outcomes. When companies act on those suggestions, the typical value realized is 10-20x ROI.

Here’s how you can get started using analytics to make smarter decisions and transform into a more efficient, more profitable enterprise.

 

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Frequently Asked Questions

What is prescriptive analytics and how does it differ from other types of analytics?
Prescriptive analytics goes beyond describing what happened or predicting what might happen by recommending specific actions to take. The infographic explains that while descriptive and predictive analytics provide insight, prescriptive analytics guides decision‑making by identifying the best course of action in complex, variable environments. This enables organizations to move from insight to execution faster and more consistently.
Why do complex business problems require prescriptive analytics to solve effectively?
Complex business problems often involve multiple variables, constraints, and tradeoffs that exceed human intuition alone. The infographic highlights that traditional analysis leaves too many decisions dependent on judgment and debate. Prescriptive analytics reduces this friction by embedding decision logic into the process, allowing organizations to evaluate scenarios quickly and act with confidence instead of reacting slowly or inconsistently.
How does prescriptive analytics improve execution speed and business performance?
Prescriptive analytics improves execution speed by turning data into clear, actionable recommendations at the point of decision. The infographic emphasizes that when analytics are integrated into daily management and operational workflows, teams spend less time analyzing and more time acting. This leads to faster problem resolution, reduced variability, and more reliable performance across operations.

Meet the Expert

Brian Cromer

Brian Cromer

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Brian Cromer is Managing Director of TBM’s Global Supply Chain practice where he helps clients to make operational improvements, reduce working capital and improve service levels while lowering the overall cost to serve.

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