a smart look ahead with data analysis

A smart look ahead with data analysis

A smart look ahead with data analysis

October 20, 2022

There is a lot happening economically: inflation, rising interest rates, labour market shortages. Uncertainty is increasing. So how can you take a smart look ahead from the perspective of your own business? And your position as an entrepreneur? Understanding your current situation as well as making forecasts about the time to come will help you prepare. Then, you are able to act quickly should the economic situation require so.

How financially resilient is your organisation?

Earlier we wrote on the financial resilience of a company. Economic uncertainty is increasing; how can you weather the headwinds?  The rise in interest rates has begun; what should and can you expect from your bank?  Inflation is skyrocketing; how can you break the vicious cycle?  Very important in times like these: getting and maintaining a grip on your assets; how can you minimise your risk?  After reading these articles, one question remains: how can you take a smart look ahead, ensuring timely action based on the right considerations? Data analysis makes this possible.

The added value of data analysis

Data analysis  enables you to gain more, improved, in-depth and quicker insight into your organisation and business processes. And, given the uncertain economic times ahead, that is going to help you as an entrepreneur. First of all, it’s about gaining insight into the relevant KPIs. Total profit at the bottom line says very little about the sustainability of your business model. What is the margin on each product? Which products have a high turnover rate and which ones tend to stick around for a long time?  Which products add a lot of value and which do not?

With data analysis, you can shift key parameters to make impact calculations. What if you remove one product from the range and focus on another? What is the impact of rising purchasing costs and/or rising energy prices? What if the interest rate on my financing increases? You can gain insight into a range of scenarios.

Taking a smart look ahead using scenarios and forecasts

Looking ahead to the future does not mean making exact predictions. But scenarios do help you prepare. Cash is king, as we mentioned before. And that means that cash flow forecasts are extremely important. Do you have enough cash to cover your obligations and, most importantly, to continue doing so? Using dashboards, we provide insight into how cash flows are expected to develop over the coming months based on the current situation, as well as if we adjust a few ‘dials’. This allows you to know what will happen to your margin or liquidity if certain parameters change. Only then you will be able to act quickly if the economic situation requires so.

Want to know more about using data analysis?

With data analysis, modelling and dashboards, we help you be prepared to face uncertain economic times. Curious about how we can apply this to your company’s particular situation? Then please be sure to get in touch with your dedicated contact person at Joanknecht or one of our recovery advisors as listed below.

forensics recovery advisors

Frank Driessen | +31 (0)40 240 9438 | fdriessen@joanknecht.nl

Ronny Buiting | +31 (0)40 240 9415 | rbuiting@joanknecht.nl 

Max Broekhuizen | +31 (0)40 240 9479 | mbroekhuizen@joanknecht.nl

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