Predictive Analytics is the next step in making quantifiable decisions which allow businesses to firmly establish next steps in their budgetary and operational roadmap.
Within the IWMS space, Tjene has developed pre-built predictive models for four key areas to enable businesses to quickly adopt and apply forecasted results to move analytics faster.
What will my real estate portfolio look like in the next few years? In particular, how much will my upcoming lease options cost me?
We predicted a cost per square feet (sqf) for all upcoming lease options based on the following features:
- Associated lease
- Size (sqf)
- Location (city)
- Option exercise date
- How will my facilities and facilities management teams grow in the next few years?
- Will I be able to keep up with such growth?
We took historical work task information, factored in seasonality and forecasted what weekly task counts are going to be like in the future. The model can be drilled down into task type, request class, etc.
- How long will my space be able to accommodate my business' growth in size?
Using historical data, we fit two time series models to forecast growth in employees (head count) and space (sqf/size). When forecasting, both models will take trend and seasonality into account.
- Will my capital projects go over budget?
Using historical data of the completed capital projects, we created two forecasting models that use the following features below:
- Project type
- Project classification
First, we determined which projects are forecasted to be over budget. Next, we predict how much the project will be over budget, and which areas there are discrepancies in the budget.
Interactive dashboards and reports are critical in getting data to appear in clear, vivid, and interactive visualizations. Business groups and users expect and need access to freely build metrics and visualizations to help them extract even greater insight than canned reports.
In presenting data, the use of colour, visuals, and layout can have a great effect on a person’s ability to quickly understand the data and draw business decisions from what is shown. Through the use of interactive dashboards and reports, Tjene enables users to visualize the information and allow their data to tell a story.
Click below to interact with the four dashboards in the following use cases: