We provide the following analytics services:
- Data mining
The concept of Data Mining is becoming increasingly popular as a business information management tool where it is expected to reveal knowledge structures that can guide decisions in conditions of limited certainty.
Data Mining is an analytic process designed to explore data (usually large amounts of data – typically business or market related – also known as “big data“) in search of consistent patterns and/or systematic relationships between variables, and then to validate the findings by applying the detected patterns to new subsets of data. At Mega Zing we provide data mining for critical business decisions.
- Demand forecasting
Demand forecasting is the area of predictive analytics dedicated to understanding consumer demand for goods or services. That understanding is harnessed and used to forecast consumer demand. Knowledge of how demand will fluctuate enables the supplier to keep the right amount of stock on hand. If demand is underestimated, sales can be lost due to the lack of supply of goods. If demand is overestimated, the supplier is left with a surplus that can also be a financial drain. Understanding demand makes a company more competitive in the marketplace. Understanding demand and the ability to accurately predict it is imperative for efficient manufacturers, suppliers, and retailers. To be able to meet consumers’ needs, appropriate forecasting models are vital. At Mega Zing we choose the model that generates most accurate forecasts.
- Market potential analysis
Market potential is the entire size of the market for a product at a specific time. It represents the upper limits of the market for a product. Market potential is usually measured either by sales value or sales volume.
Estimating the potential of a market is very important for a company planning to enter a new market. This is a process where an organization estimates the attractiveness of the market for selling its products or services. Before venturing into a market and investing huge sums of money, it is very important to asses it in order to avoid irrecoverable losses. Besides studying the broad market factors such as the size of the population, GDP and the spending capacity of the market, firms should also analyse market specific factors such as customer’s tastes and preferences, the cultural factors prevailing, their willingness to buy the products and so on. At Mega Zing we estimate the market potential of a product through statistically valid surveys.
- Market survey
A market survey is a tool used to gather information about existing or potential customers in a certain market or population. Market surveys are an important part of market research that measure the feelings and preferences of customers in a given market. Varying greatly in size, design, and purpose, market surveys are one of the main pieces of data that companies and organizations use in determining what products and services to offer and how to market them.
- Supply chain
According to American Production and Inventory Control Society (APICS), supply chain management is defined as “the processes from the intial raw materials to the ultimate consumption of the finished linking across supplier-user companies”. The supply chain is a great place to use analytic tools to look for a competitive advantage, because of its complexity and also because of the prominent role supply chain plays in a company’s cost structure and profitability. We offer practical support via a range of tailored and proven intervention and transformation approaches designed to achieve both short-term impact and long-term sustainability.
Please feel free to contact us for any analytics projects.