Thanks to data-based mathematical models, it is possible to identify beneficial business scenarios and calculate the value of potential savings.
Managers often asks questions “what if we have changed the way we distribute our product” or “How much we will save if we change the way our customers order our products”? The answer to these questions is usually not easy because there are many factors that need to be taken into consideration.
Fortunately, you can get a great support for this kind of questions with one of Microsoft Power BI functionalities called “What if analysis”.
Building a mathematical model
In short, some actions need to take place:
First one is a “top view visualization”. It allows to understand what stands behind the data and find potential factors that may impact the scenario. Next, we check the correlation of these variables to define the character of dependence and its strength.
Then we build a mathematical model which (after validation) allows to answer the question “what if” and estimate the result – what will be the saving or cost.
The final stage is preparation of Power BI report with identified parameters, that allows a quick and easy analysis of different “what if” scenarios.
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