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Analysing What-If Scenario

What-If analysis enables you to simulate various scenario situations and understand their impact on your data. By manipulating key variables and applying different filters, you can gain valuable insights into your data, make informed decisions, and optimize your strategies. This guide will walk you through the process of setting up and conducting What-If analysis based on the configured What-If formulas.

Guide to What-If Analysis: A Step-by-Step Process

This guide provides a step-by-step process for setting up and conducting What-If analysis based on configured formulas, enabling you to explore different scenarios and manage parameters effectively.

  1. To define the what if analysis, navigate to the What If Analysis under the Analysis module.
  2. To create a new analysis, click on New Analysis. You will be redirected to the What If analysis editor.

  1. Start with an analysis name. Let us name it “Fruit Pricing Analysis”.
  2. Select the required What if formula from the list of formulas available within Infoveave.
  3. Click on Add Filter to apply dimension filters to the analysis. Let us apply the below dimension filters:
    • Dimension Name: “Order Priority” and Filter value: “High”.
    • Dimension Name: “Sales Channel” and Filter value: “Online”.
    • Dimension Name: “Category” and Filter value: “Fruits”.
  4. Click on Save option to save the analysis.
    • The analysis will be added to the What If Analysis under the Analysis module.

  1. To start analyzing scenarios based on the variables, click on the Execute option associated with the analysis.

  1. You can now analyze different scenarios based on formulas, parameter values, and filters. To edit the added dimension filters in the analysis, click on the Edit Analysis option.

  1. To edit the pre-defined What-if formulas, click on the Edit Formula option.

  1. To add parameter values to the key variables for the analysis, click on the Add Parameter option.

  1. Define the parameter type from the list of available options of “Value by”, “Percent by”, “Value to”, “Keep old value”, “In relation to”, and “Update value copies”.
  2. Let us analyze the scenario where shipping cost is increased by 10%.
    • Select the key variables as “Shipping cost (b)”, Dimension as “Category”, and Dimension Items as “Fruits”.
    • Click on the Add Parameter button to add the scenario.
  3. Click on the Analyze option to start analyzing the scenario.

  1. You will be redirected to the analysis page, showcasing the effects of the change in the associated formula elements.

  1. To add the analysis scenario, click on the Add Analysis Scenario button. Give the scenario name and click Save to add the scenario. Let us save the scenario under the name ” Shipping Cost Increased by 10%”.

  1. To export the analysis, click on the Export Analysis option.

  1. Download the analysis report by clicking on the download option.

Conclusion

What-If analysis helps you simulate various scenarios and understanding their impact on your data. By adjusting key variables and applying different filters, you can gain valuable insights, make informed decisions, and optimize your strategies.