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To demonstrate the potential of ad hoc analysis, let’s delve deeper into the practical applications of this invaluable data-driven initiative in the business world. Ad hoc financialanalysis: An additional ad hoc reporting example can be focused on finance.
Example : A manufacturing firm uses predictive analytics to forecast product demand seasonally, adjusting production schedules and inventory management accordingly to minimize waste and ensure supply meets demand.
It’s common for supply chain managers to forecast demand for various products, including inventory requirements across multiple geographies. Likewise, humanresourcesmanagers must often predict fluctuations in the need for labor and the availability of workers to meet that need. Sales forecasts are one such example.
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