Uncertainty in any market can fuel the need for a more proactive approach to organisational planning and risk management. The application of statistical tool and techniques is a vital part of the process, however, not every company has the expertise or manpower to carry this out effectively. Marriott Statistical Consulting are experts in helping organisations predict future conditions whilst showing their teams how to utilise the relevant statistical tools so they can carry this forward. Our experience is wide ranging, coverings areas such as: Recruitment, Insurance, Education, Travel, Social Care, SEO, Cocoa, Cosmetics & Retail. Whatever industry or sector you are in, we can take the headache out of building the models you need to make better decisions and to manage the risks inherent in such decisions.
We see Forecasting & Risk Modelling as two sides of the same coin. Put simply, Forecasting is about looking at the past & present, identifying trends, patterns & key business drivers and then using statistical thinking and modelling techniques to derive what can be expected to happen in the future. With Risk Modelling, we do exactly the same except that this time we use statistical thinking & modelling to derive the probability of a certain event happening in the future. To illustrate, we might build a Forecasting model that predicts that between 39 & 46 of your customers will cancel their contract with you next year. Alternatively, we might build a Risk Model which states that the chances of more than 50 customers cancelling their contracts next year is 1 in 6. The former is more useful to decision makers who need to plan what is likely to happen next year, the latter is more useful to decision makers who need to assess the health of their organisation.
Whatever your need, we will always seek to understand the larger business context into which our models will fit into. Our goal is to enhance your organisation’s ability to make sound decisions based on easy to use & robust statistical models that can be understood and used by a wide audience and will endure in the organisation long after we are gone.