The Minitab Solution Center: Bridging Data and Decision-Making

The Minitab Solution Center was developed to address the growing need for integrated, user-friendly solutions that can handle complex data analysis and visualization tasks. Our goal is to provide a seamless experience that empowers users to make data-driven decisions with confidence. By combining our core solutions that you know and love such as Minitab Statistical Software and Minitab Workspace, with our new Solution Center utilities, we aim to offer a holistic approach to data analysis, project management, and informed decision making.

The Solution Center in Action 

To introduce the Minitab Solution Center, let’s walk through a hypothetical example that utilizes a variety of our solutions. 

For all commercialized products, a forecast model is required to predict the number of prescriptions expected to be written within specific time periods, either monthly or quarterly. The forecast is compared to actual sales, and if there is a variance of plus or minus 4% or more, executives initiate a comprehensive review. A negative variance indicates a drop in prescriptions, while a positive variance suggests a need to adjust production to meet increasing demand. A hypothetical company plans to release a new drug and needs to create a forecast model before it reaches the market. They will purchase prescription data from a data IQ company that aggregates information from doctors’ offices and pharmacies once the drug is released to refine their model and make necessary adjustments. 

Step-by-Step Application of the Minitab Solution Center 

Step 1: Design the Forecast Model Using Brainstorm 

The research team began by using the Brainstorm utility found in the Minitab Solution Center. This is used for structuring and refining ideas before creating the forecast models. This includes:  

1. Fishbone Diagrams: Identifying potential causes of variance in prescription sales, such as seasonal trends, marketing efforts, or changes in healthcare policies. 
2. Mind Maps and Idea Maps: Organizing and visualizing ideas related to the forecasting process. This helps in brainstorming different scenarios and factors that could impact the forecast.  
3. Minitab AI: Using the new Minitab AI, the team can generate different sources to pull data from that will help them create the most accurate model. For example, the AI may suggest different competitors and older drug types to use so that relevant data is aggregated when building the model. 

By using these visual tools, the team can ensure that all applicable variables are considered and that the forecasting model is comprehensive. 

Step 2: Data Preparation with Data Center 

The Data Center utility is the next step for preparing the data for the predictive model. Here's how it can be used: 

1. Automate Data Quality Checks: The company can set up automated checks to ensure the data is accurate and complete. After the model has been created and compared to actual data, the team will continuously add data to it to ensure that they are closely monitoring and refining the forecast. This includes identifying missing values, outliers, and inconsistencies. 
2. Generate Summaries: Quick summaries of key metrics can be generated to provide an overview of the data. This helps in understanding the distribution and trends at a glance. 
3. Repeat Data Preparation Tasks: Commonly used data preparation tasks can be saved and reused, streamlining the process for future analyses. 

The data grid feature allows users to interact with the data through a table view, making it easy to perform actions like filtering, sorting, and visualizing column metrics. This ensures that the data is clean and ready for analysis in the next steps. 

Step 3: Data Analysis with Minitab Statistical Software 

With the data prepared and key factors identified, the company can perform various analyses using Minitab Statistical Software. The familiar and reliable Minitab that your users know is just a click of a button away, integrated directly into the Solution Center. From here, analyses can go in many different directions. For the sake of this example, the company moves forward with their time series analysis and uses the data from the data IQ center to actually plot the trend.  

Using trend analysis to identify and model trends over time, forecasts can be compared to actual sales data. Any significant variance (plus or minus 4%) triggers a comprehensive review by stakeholders. 

Step 4: Enhanced Insights with Minitab AI 

Building on the data analysis capabilities in Minitab Statistical Software, Minitab AI can take your findings to the next level. In our example, Minitab AI can help with a couple different aspects: 

1. By analyzing patterns and trends in the prescription data, Minitab AI will offer actionable insights and recommendations, such as identifying potential causes of variance and suggesting adjustments to production schedules.
2. Complex statistical concepts and technical details related to the forecasting models and variance analysis will be translated into easy-to-understand language, making it accessible for users with varying levels of expertise. 
   

Step 5: Seeing the Big Picture with Dashboards 

Finally, the Dashboards utility allows the company to visualize and track key insights. This includes: 

1. Interactive Visualizations: Creating dashboards that display key metrics and trends. These visualizations make it easy to monitor performance and identify any outlying issues. 
2. Regularly Scheduled Updating: Keeping track of sales data and forecasts, allowing for quick adjustments to production schedules if needed. The team decides that each month they will update the model with new data, allowing for the forecast to be updated accordingly.  
3. Sharing Insights: Dashboards can be shared with stakeholders, ensuring that everyone has access to the latest information. 

By using the Dashboards utility, everyone can quickly see if production needs to be adjusted to meet demand or if further investigation is required due to a drop in prescriptions. 

The Minitab Solution Center integrates its new utilities with our core solutions to offer a powerful suite for businesses aiming to enhance their data analysis capabilities. By streamlining data preparation, facilitating brainstorming, and providing intuitive visualizations, it empowers users to make smarter, data-driven decisions. 

Available now. Access a free trial today to get started.