Analysis
Understanding the Markov Model and Its Use in Data Analysis: Applications in Procurement with PowerBI
The rapid evolution of data analysis and machine learning in modern industries has given rise to advanced methods of interpreting, forecasting, and optimizing processes. Among the various analytical tools available, the Markov...
Creating Business Insights from Data: Moving Beyond Dashboards with Power BI
In today’s data-driven business landscape, organisations are flooded with more data than ever before. From transaction histories to customer behaviour patterns, data can drive decision-making at all levels. However, the mere collection...
Risk Stratification: A Tool Falling Short in Real-World Impact
Risk stratification has long been heralded as a promising approach in healthcare, aiming to identify patients at varying levels of risk for adverse health outcomes. The fundamental idea is that by accurately...
Overcoming Challenges in NHS Procurement with Data-Driven Strategies
NHS procurement is fraught with challenges ranging from complex regulatory frameworks and budget constraints to supply chain disruptions and technological limitations. The introduction of the new Procurement Act 2023 adds another layer...
Harnessing Data to Enhance Market Engagement in UK Public Procurement
Data has become a cornerstone in almost every sector, and public procurement is no exception. In the UK, public procurement is heavily regulated, with an emphasis on transparency, fairness, and efficiency. The...
Bayesian Probability Theory and Its Relevance to Public Sector Procurement in the UK
Bayesian probability is a fascinating and powerful concept within the world of statistics and decision-making. Named after the 18th-century mathematician Thomas Bayes, this theory offers a unique way of thinking about probabilities,...
Process Mining Using Power BI
Power BI is a versatile business analytics tool that can be used for process mining when combined with event logs and process mapping techniques. This guide will walk you through how to...
Modelling and Simulation: A Foundation in Discrete Events and Iterative Systems and uses in UK health procurement and supply chain
In today’s world, modelling and simulation (M&S) have become indispensable tools in a wide range of fields, including engineering, healthcare, economics, and environmental sciences. These tools allow us to create representations of...
