Services
General Business Analysis
Steele Analytics LLC provides a range of economic, financial, and statistical analytics that can improve your company’s competitive position. Whether it be a return-on-investment analysis, an economic assessment of a new marketing campaign, or an analysis of revenue and expense trends, Steele Analytics can assist you with your general business analysis needs.
Forecasting
Understanding trends is critical to maximizing profitability. What are the cyclical, seasonal, secular, and other forces that impact your company’s sales? Which data points are “real,” and which ones are “noise”?
Steele Analytics can identify the most accurate time-series forecasting model for your data, thereby helping you to anticipate future demand and to make the necessary tactical and strategic decisions to boost your company’s bottom line. In some cases the most appropriate forecasting method will be causal-based (i.e., regression or econometric); in other instances an extrapolative model will be most accurate (e.g., an exponential smoothing model).
Regardless of which method is selected, Steele Analytics LLC’s forecasting services can provide valuable insights that can help you run your business more effectively.
Pricing
Understanding customers’ responses to price increases—or decreases—is obviously a tremendously important determinant of the success of a business. Using statistical and data mining methods, Steele Analytics can assist you in ascertaining price “elasticity” functions that can be used to maximize profit.
Data mining
Traditional exploratory analysis can unearth key relationships between variables that can affect the profitability of your firm. However, this process requires knowledge of statistics and a defined set of relationships that the researcher wishes to study and test.
Data mining is an extremely powerful methodology that can often uncover valuable information that is missed by other methods. Data mining harnesses the power of the computer to sift through large amounts of data, identifying statistically significant relationships and patterns.
Applications of data-mining technology are diverse. Banks, for example, often use data-mining techniques to develop risk-profiling models for credit card customers.
Steele Analytics can use data mining software to develop cluster and decision-tree models that can provide greater insight about your customers and other aspects of your business. Combined with your own qualitative assessments, this information can engender increased profitability for your firm.