Financial forecasting on the basis of time series analyses for an energy company

von Patrick | 16/08/2023

Financial forecasting on the basis of time series analyses for an energy company

Expert: Michael Scharpf

Industry: Other

Area: Finance & Controlling

State-of-the-art time series analyses and AI technologies enable the energy group to make more precise and efficient financial forecasts.

Our AI and Data Science Case Studies:
Experience from over 1,600 customer projects

Optimisation of forecast accuracy and automation of cost forecasts

In the past, a client was faced with the challenging task of significantly optimising the forecasting accuracy of its business management corporate functions. This was especially true for the critical area of Financial Forecasting. It was not only important to improve accuracy, but also to improve the entire forecasting process to automate for future cost forecasting. This automation should provide more time and resources for the company's analyses.

Automated financial forecasting pipeline with deep learning approach

Based on our expertise in data analysis and artificial intelligence, we have developed an individual solution: a Automated forecasting pipeline. This innovative solution consisted of several integrated modules:

Data preparation: By using advanced data processing techniques, the client's data was optimised and prepared for the next step.
Training of forecasting models: Using more than 10 different models, including classical statistical approaches as well as modern deep learning methods, a comprehensive analysis was carried out to select the optimal forecasting method for the client.
Model selection by means of ranking module: Here, an intelligent ranking system selected the best model that best matched the client's specific requirements and data.
Cost forecastThis pipeline enabled both monthly and annual financial forecasting.
User-friendly dashboards: Intuitive dashboards were developed for better communication between technical and non-technical stakeholders. These dashboards visualised both forecast data and key performance indicators and were accessible to both the business team and the development team.

Objective, data-driven forecasts increase business efficiency

Our solution optimised the client's approach to cost forecasting. Where previously controllable cost forecasts were primarily based on management's subjective estimates, our data-driven forecast now a objective verification. This has significantly improved the reliability and accuracy of the predictions.

In fact, the automated financial forecast we developed for the client's corporate functions showed an Significant improvement of the financial statements compared to their previous manual methods. In addition, the ability to visually display historical costs provided a sound basis for internal discussions and strategic decisions. It was a powerful example of how modern data science and AI technologies can transform business operations.

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Michael Scharpf

Key Account Manager | Alexander Thamm GmbH

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Basic training in data visualisation for a pharmaceutical company

von Patrick | 14/08/2023

Basic training in data visualisation for a pharmaceutical company

Expert: Michael Scharpf

Industry: Other

Area: Marketing & Sales

With our customised basic training in data visualisation, we provided a leading pharmaceutical company with a clear view.

Our AI and Data Science Case Studies:
Experience from over 1,600 customer projects

Data complexity hits decision makers

In an increasingly digitalised world, businesses are increasingly reliant on fast, efficient and clear data analysis. One client came to us with a clear challenge: they needed specialised dashboards for different user groups. This was particularly important for their professional and managerial staff, who were often faced with the task of making timely decisions. But the time-consuming data evaluation and long strings of numbers inhibited the process.

This is a common problem for many companies. Faced with enormous amounts of data, they are looking for ways to Analyse data efficiently and present it in a target group-specific and understandable way.

Our training: Fundamentals of data visualisation

Our expertise in data analytics and data visualisation enabled us to provide the client with a Innovative data visualisation training to offer. Our recommendation focused not only on the pure development of the dashboards, but also on comprehensive staff training. This training included the teaching of modern approaches to dashboard development and specifically highlighted ten critical factors to consider when creating them.

But we went one step further. Based on current market trends and Best Practices, we showed approaches for agile dashboards that enable a flexible and interactive user experience. Through this integration of practice and theory, we ensured that our client not only received a product, but also the necessary know-how for future projects.

In-depth knowledge for optimised dashboards

After completing our project and training, we saw impressive results. The reporting that we developed strictly followed the Current standards of data visualisationwhat a High user-friendliness and efficiency provided.

Thanks to the approaches we imparted, we found a significant increased acceptance of the dashboards developed. This was reflected not only in the satisfaction of the professional and managerial staff, but also in the Increased productivity of the company. Furthermore, it was particularly pleasing to observe how all participants deepened and applied the data visualisation guidelines in the practical part. This guarantees that our client will continue to benefit from the acquired knowledge in the future and continuously optimise its dashboards.

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Michael Scharpf

Key Account Manager | Alexander Thamm GmbH

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Optimised information research for a publisher

von Patrick | 25/07/2023

Optimised information research for a publisher

Expert: Michael Scharpf

Industry: Other

Area: Marketing & Sales

Revolutionise your information search: Learn how we enabled a fast, accurate and efficient search for relevant information for a renowned publishing house by using artificial intelligence and semantic technologies.

OUR AI AND DATA SCIENCE Case studies:
EXPERIENCE FROM OVER 2,000 CUSTOMER PROJECTS

[Challenge]

In the past, one of our clients, a publishing house specialising in legal topics, faced the challenge of providing its customers with easy and efficient access to the wide range of knowledge and information in its heterogeneous data landscape. This proved to be particularly complex as clients were often unaware that certain information already existed or had difficulty searching for it specifically. Traditional keyword-based information searches proved inadequate in many cases, often returning inaccurate or irrelevant results. This affected the user experience and reduced customer productivity.

[Solution]

To meet this challenge, we developed an innovative knowledge management system based on semantic technologies and artificial intelligence. This technology enables customers to search for information using their own language by recognising and interpreting the natural language use of users. The solution developed translates this user input into queries that can search the available data. By combining data science and artificial intelligence, we were able to develop a powerful search function that goes far beyond the possibilities of traditional keyword-based information searches.

[Result]

The implementation of this innovative knowledge management system has proven to be a great success. It has dramatically improved the relevance and accuracy of information search results, resulting in faster and more efficient searches for relevant information. By reducing inaccurate and irrelevant results, clients have been able to significantly reduce their manual work and increase their productivity.

Our holistic approach and successful implementation of this project enabled us to provide users with an enhanced experience and maximise the value of their access to the publisher's knowledge landscape. This case demonstrates our ability to solve complex problems and deliver innovative solutions that support our clients' business objectives and increase their efficiency.

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Michael Scharpf | Sr. Principal Key Account Manager | Alexander Thamm GmbH

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Operationalisation of data governance for a life science company

von Patrick | 21/07/2023

Operationalisation of data governance for a life science company

Expert: Michael Scharpf

Industry: Other

Area: Marketing & Sales

By implementing strategic data governance operations, we helped a leading life science company optimise its global data structures and realise more efficient business processes.

OUR AI AND DATA SCIENCE Case studies:
EXPERIENCE FROM OVER 2,000 CUSTOMER PROJECTS

[Challenge]

n the past, we worked with an international life science company that faced an immense challenge. With offices around the globe, the company was struggling with a high level of data complexity. With data coming from different sources and in different formats, it was difficult for the company to maintain a consistent and comprehensive overview. The key challenge was to implement a unified data governance structure that would enable the company to ensure the quality, availability, integrity and security of its data across all business units.

[Solution]

To overcome this challenge, our team developed a two-phase solution. In the first phase, we took the company's requirements and conducted a preliminary study. The goal was to understand the existing data structures and processes and to develop a suitable strategy for data governance operations.

During the design phase, we defined clear roles and responsibilities within data governance to ensure that data could be managed and protected effectively. This was a critical step as it allowed the company to clearly assign responsibilities and ensure that data is managed in accordance with internal and external policies.

As part of the implementation phase, we not only implemented the data governance structure, but also built individual domains. This enabled the company to maintain control over its data and ensure that the data is consistent and reliable, regardless of the geographical location or business unit involved.

[Result]

As a result of our collaboration, the Life Science Group was able to establish an effective data governance structure. This led to improved business processes by ensuring data quality and consistency across all business units. At the same time, compliance with data protection regulations was facilitated and the risk of data breaches minimised.

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Michael Scharpf | Sr. Principal Key Account Manager | Alexander Thamm GmbH

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MLOps Maturity Assessment in the chemical industry

von Patrick | 07/06/2023

MLOps Maturity Assessment in the chemical industry

Expert: Michael Scharpf

Industry: Other

Area: Production

Increase your MLOps maturity in the chemical industry with our customised MLOps Maturity Assessment.

OUR AI AND DATA SCIENCE Case studies:
EXPERIENCE FROM OVER 2,000 CUSTOMER PROJECTS

[Challenge]

Assess current MLOps capabilities and create a roadmap for a mature infrastructure based on the client's requirements and best practices at a German chemical company.

Our company had the exciting opportunity to conduct an assessment of the current MLOps capabilities at a renowned German chemical company. The company had already developed several machine learning based products on different technology stacks and in different environments. However, due to a change in focus to maintenance tasks, they were forced to stop developing new products. The goal was to create a roadmap to introduce a comprehensive MLOps platform that would cover implementation best practices and meet the needs of the company.

[Solution]

Conduct interviews and workshops with developers, end-users and other stakeholders to analyse needs and challenges due to the current MLOps infrastructure.

Our team conducted extensive interviews and workshops with stakeholders to understand the needs and challenges associated with the current MLOps infrastructure. This enabled us to define a set of guidelines to build an MLOps platform that takes into account end-user needs, business regulations and best industry practices.

We also conducted a detailed analysis of SaaS platforms, cloud providers and open source solutions. More than 50 criteria were considered to make an informed recommendation. This recommendation formed the basis for the design of the target architecture, which covers the entire lifecycle of machine learning and offers a step-by-step approach for rapid operational implementation.

[Result]

Provide instructions for setting up tests, monitoring, logging, user management and different environments.

The cooperation with the German chemical company led to an impressive result. We were able to present the company with a comprehensive roadmap that made it possible to build a mature MLOps infrastructure. This included clear instructions on how to set up testing, monitoring, logging, user management and different environments.

Thanks to our thorough analysis and recommendation, the company received a clear overview of the available options and was able to make informed decisions. The target architecture and step-by-step approach enabled the company to move forward with the implementation in an efficient and targeted manner.

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Michael Scharpf | Sr. Principal Key Account Manager | Alexander Thamm GmbH

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