BayMiner EWS is a decision support system especially developed for project business.
BayMiner EWS is intended for small and mid size manufacturers, offering repetitively similar projects in hundreds or thousands per year to their clients. BayMiner enables you to avoid booking unprofitable orders. BayMiner identifies co-occurrences of several risk factors, which you cannot do with conventional calculation methods such as spreadsheets and classic statistics. Opposite to the conventional risk assessment tools BayMiner EWS uses a simple traffic light solution to communicate the appropriate recommendations to the user
Your situation?
Your organisation occasionally books unprofitable projects but you do not know what are the root causes of booking of these. By avoiding unprofitable bookings, significant cost savings can be achieved.
Are these symptoms familiar?
- Knowledge is dispersed throughout the organisation.
- Data is missing or inconsistent.
- You do not have means to communicate or measure risks.
Solution overview
In the first phase the EWS development focuses on finding the most significant risk factors. The probabilities of your particular problem space are modelled using BayMiner from a number of historical projects with factors that contain the essential risk information. This data is analysed to reveal the risk factor combinations you should avoid. A very simple-to-use web form is used to interact with the EWS model. The EWS system communicates the combined risks with easy to understand traffic lights back to the user.
Exclusive advantage provided by BayMiner EWS for the customer
You can avoid higher risk projects when several hidden factors might jointly cause the risk. You can also avoid the situations in which one factor is warning about serious problems while all the other factors get low risk scores. In this situation the conventional points calculation systems fail as a high-risk project may get high scores.
The challenges:
- Unprofitable projects come as surprises.
- Financial systems do not support fast screening.
The solution the customer looks for should:
- Warn fast and without doubts.
- Utilize the company’s collective competence.
Technical advantages:
- BayMiner EWS is an open system and does not incur additional IT-costs to the user.
- Sparse data is adequate to reach a useful result.
Benefits:
- Number of unprofitable projects will probably decrease by 75%.
- Collective competence can be fully utilized.
