CompareTrends - Metrics2

In business, the term “Correlates” is used often in general discussions.  For example, “This correlates to that” which means that this behaves like that because there is a relationship or similarity.  Most often the term is used based on intuition and without true mathematical measures.  Besides correlation, the ability to see if a trend is headed up or down can present the same kind of speculation.  Especially when trend data has high variation or many ups and downs which can make it hard to gauge direction with precision.

CompareTrends provides the ability to compare any trend to another trend with precision to help with relationships between variables or “Trends”.  The lion’s share of companies have metrics in different systems with trend comparisons built in Excel for one-off comparisons (e.g., how is our Revenue trending compared to the Gross Domestic Product for our Industry).  Finding correlations and determining trend direction (growth or decline) becomes easy-and-quick with CompareTrends by providing business people a ready-to-use facility with all Company related metrics included.

CompareTrends Advantage (many possible comparisons)

In mathematics, a square number is the result of multiplying a number by itself.  If your Company has 50 Metrics or Trends to analyze (Internally and Externally) and you can compare those metrics to each other, the sqaure number is 2,500 (Mertics2 or 502) minus 50 to cancel out self-comparisons which results in 2,450 comparison combinations.  This tool allows you compare any metric to other metrics to discover statistical trend direction and trend relationships.

Correlation, Similarity and Analogies (key skill for business people)

This solution speeds organizational thinking because comparisons are quick and at the user’s fingertips when a thought occurs.  In fact, by surfing comparisons with quick response times, users are able play with hundreds of comparisons within minutes which expands the creative mind and creates more questions and a better understanding of the “Big Picture”.  Analogies are also heavily used in business and are important to problem solving.  While analogies are not always mathematically based, this tool can also assist with aspects of that kind of thinking and problem solving.

CompareTrends - Full Screen

The CompareTrends example below has 1,300 Metrics loaded for each Country.  There are 135 Countries.  If we take 135 Countries times 1,300 metrics the result is 175,500 total metrics.  The square number result minus self-comparisons is 30.8 billion+ comparison combinations, which is staggering considering the analysis that can take place when comparing each metric to another.  We have also added additional United States related metrics below the Country level for Los Angeles, Boston and New York.  While it does not make sense to compare every trend to another trend, it does open the door for business people to make that decision and to do the comparisons or trend analysis themselves versus waiting for an analyst or another organization to provide data for the one-off needed comparison.

The example below and selected metrics has data from 1980 to 2010 (31 periods).  The charts and tables below have been tested at 19,000+ periods (data points) for X-Axis values (could use seconds versus years).  The application can scale for web browser analysis.  All the calculations and computations are done in the database so only clean/aggregate data sets come to the browser (Big Data and Modern Data Science compatible).  Users can also copy raw data from the browser to perform additional analysis in Excel or other tools (see Raw Data below).

The screen below is HTML and can be formatted and dropdown menus can be changed for different uses.  For example, dropdowns could be added for Country, Zone, Region, District, Site, Customer and Product which would allow for aggregated comparisons.  Dropdowns can have large lists of values for fine-grain analysis as well.

CompareTrends opens the door for Company Leadership, Management and Associates to compare trends for different Company numbers in a systematic way and with precision versus one-off comparisons.  This solution promotes centralized metrics and cross-comparing metrics with statistical techniques (Regression and Correlation) by Business People which promotes High-level Data Science work and Data-assisted Decisions.

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