Analytics TX, LLC

#NotebookLM #AI created the audio podcast based on our website www.analyticstx.com and it captures what the company does in a pretty nice manner. Hope it helps you to learn how I (Dr. Kruti Lehenbauer) help my clients to achieve their goals to...

Do You Need to Manage Costs? TLDR: Make sure to look at the average values! With the concerns and reality of rising prices, A lot of businesses and individuals are battling, An even more pressing concern of managing costs. I often see people using PRICE and COST interchangeably. And with all due respect to those people, this is wrong. I have said it on other occasions, and I will repeat it: Language matters when you are making decisions. Each of these terms represents something different. PRICE refers to what your consumers pay you Per unit of the goods or services you offer. COST refers to what you pay for obtaining resources From others to produce your goods or services. Three main types of COSTS to consider by a business: 1. Fixed Costs (FC): subscriptions, rent, electricity, etc. 2. Variable Costs (VC): wages, interest, raw materials, etc. 3. Total Costs (TC): sum of fixed and variable costs. There are also marginal costs, opportunity costs & sunk costs, But we will leave the discussion of those for the future. To manage costs and efficiency to get returns on costs, Focus mainly on the average values of FC, VC, and TC. Fixed costs are not dependent on quantity of goods --> Whether you produce 10, 20 or 50 units, FC is same. --> Thus, as production increases, Average FC decreases. Variable costs vary with the quantity of goods produced. --> Business needs to use more resources to produce more. --> Initially Average VC is higher, then falls, and then rises again. Total costs also vary with the quantity of goods produced. --> Sum of the fixed and variable costs so incorporates it all. --> Average TC is higher in the beginning and then falls. --> Over a long time, ATC and AVC are almost convergent. Most businesses produce at the point Where the ATC or the AVC is the lowest. Actionable Insights: 1. If PRICE of your good is lower than min. AVC: --> You're operating at a non-sustainable loss. --> Urgently change pricing or consider exiting. 2. If your PRICE is lower than min. ATC, but more than min. AVC: --> You're operating at a sustainable loss currently. --> Strategically addressing pricing is essential. 3. If your PRICE is higher than min. ATC: --> Check if you're producing a higher or lower quantity. --> You might be making profits but not efficiently. 4. Consider working with experts: --> Analyze your cost and average cost data closely. --> Analyze and adjust your pricing with data-led insights. Follow Dr. Kruti Lehenbauer & Analytics TX, LLC for #PostitStatistics #DataScience #Economics & #AI tips On how to manage and lead your SMB sustainably. P.S.: Which cost do you look at on your spreadsheets?

Calm Your Tariffs-In-Trade Panic... When the media frenzy and policy changes Create massive concerns over rising prices, Trade wars, and the resultant global fallout, It is difficult to remain stoic and unaffected As a business owner, supplier, or consumer! Look at these three top stories: https://lnkd.in/gk89yMRQ https://lnkd.in/gBwfR-PM https://lnkd.in/gKHNa-43 Now, take a step back and "Calm your Tariffs-In-Trade" (if you follow me, you know how much I like acronyms!) Notice that the rates of tariff imposition On various types of imported goods, Are different and there is a reason For this disparity in percentages. It depends on how much a given country Relies upon the trade of that good For domestic consumption. The more a country has domestic supply Of a given good, the less #tariffs imposed. As a hard-core free-market economist, Tariffs do make me uncomfortable. They do increase prices in markets. They do impact the consumers. But they also impact foreign suppliers. They also impact international relations. They are often a powerful negotiation tool. So, I am going to stay away from speculating On any political theater that these might have. Actionable Insights for Businesses: 1. Expect higher prices of any imported items. 2. Find local alternatives and renegotiate contracts. 3. Don't increase price of your product unless necessary. 4. Hire/Upskill strategy and data experts to adapt to tariffs. 5. Empower your procurement department to make decisions. Follow Dr. Kruti Lehenbauer & Analytics TX, LLC for #PostItStatistics #DataScience #Economics #AI tips To help SMBs and individuals to grow! P.S.: How are tariffs impacting you personally? P.P.S.: I won't engage in political debate.

Post-it Statistics by Dr.K latest edition!

Dashing Through the Board... With statistics by your side, Scrolling through the table, We're going on a ride! ?? And boy oh boy that ride is crazy!! While dashboards, graphs, and tables, Help visualize data for better storytelling, They barely show 30% of potential insights. Inferential statistics is often treated Like the forgotten stepsister by many. Unlike the very visible Descriptive Statistics, Inferential statistics sweeps the chimney daily, And sings songs as it runs the whole household! "Clean and unbiased data is critical for AI." Bet you've heard this sentence before. But exactly why is this the case? No, it is not only because Aunt Jo and Auntie Jo Might refer to the same customer in your data. And it is not just the values of revenues/week Versus profits per month unit differences. It is because AI tools are built with data models. The less reliable the data or the model used, The worse the output of the tool becomes! Not all businesses build or even utilize AI tools, But majority of them claim to be "data driven." They understand that their data represents The information that stakeholders seek. While there are concerns about Apple's delay In releasing their conversational AI model, See here: https://lnkd.in/gXZYuBQt They are probably taking a strategic, Data-led decision-making approach. Actionable Insights: 1. Revisit your dashboard and metrics. 2. Include estimations, predictive analytics. 3. Upskill or upgrade your data-team for analytics. 4. Look beyond the visuals for measuring performances. 5. Learn basic statistics to capture more depth from your data. Follow Dr. Kruti Lehenbauer & Analytics TX, LLC for #PostitStatistics #DataScience #AI #Economics tips To help SMBs and individuals to grow towards success! P.S.: Introduction to Business Statistics E-Book is available for free from March 2 to March 4 to celebrate 2 years of Analytics TX, LLC. Link: https://a.co/d/6Ykf5NP P.P.S: What aspect of Statistics intrigues you the most?

FREE Business Statistics E-Book (No strings attached) To celebrate two years of Analytics TX, LLC, I am offering my "Introduction to Business Statistics" Kindle E-book (usually priced at $9.99) for free until March 4, 2025. Grab a copy and feel free to share with anyone you think would be interested. Hope it helps you! - Dr. Kruti Lehenbauer https://a.co/d/9cYhIwb

Pieces of Glass... (A Sunday #inspiration poem!) When dreams get broken, Or hopes get dashed. When goals seem far away, And our confidence is smashed. Remember, that we have a choice, To pick up all the broken glass. And build something with our...

Pieces of Glass... (A Sunday #inspiration poem!) When dreams get broken, Or hopes get dashed. When goals seem far away, And our confidence is smashed. Remember, that we have a choice, To pick up all the broken glass. And build something with our voice, Difficult times will always pass. Embrace pieces of yourself, That were once a part of a vision. Create something new and beautiful, And make it your life's mission! - Dr. Kruti Lehenbauer Whether you're running your own business, Or just trying to reach personal goals, I hope this poem helps you today To strategically utilize your experiences! Have a beautiful Sunday! Follow me & Analytics TX, LLC for #PostitStatistics #DataScience #Economics #AI & #fun P.S.: My Introduction to Business Statistics E-Book is available for free from March 2 to March 4 to celebrate 2 years of Analytics TX, LLC. Link: https://a.co/d/6Ykf5NP

How Can Your NETWORK Help You Find a Job? TLDR: Depends on how robust your network is! Read more on my #linkedin

Happy Anniversary to Analytics TX, LLC!! 2 years of a formal LLC status must be celebrated. It is a WIN against my own fears & concerns of others! I am giving away my Business Statistics e-book for free Beginning TOMORROW (March 2) until TUESDAY (March 4) Link is in the Newsletter; in case you want to get it for yourself. NOTE: The free version available TOMORROW and not TODAY! In an effort to Pay-it-Forward, I will be highlighting 3 individuals Each Saturday to amplify their voices On the LinkedIn platform within my reach. If you know (or are) someone who: 1. Creates or shares content at least 5 days/week 2. Has less than 5K followers and is trying to grow 3. Does not use VAs or AI or Pods for any interactions Send me a DM... I would LOVE to feature you! My three picks for today's list are all personal connections who I am encouraging and supporting in their efforts to post and grow on LinkedIn. Give them a follow if you like their content. 1. Lynn Lehenbauer - Freelance Artist creating Oil Paintings (yes, he is also my husband, in case the name seems familiar!) 2. Nishat Jones - B2B Marketing Strategy Expertise 3. Scott Binger - CEO at Evolytix, providing data SaaS tools. As always, have a Beautiful Saturday, y'all!! ------ Want to support my creations and business? - Follow Dr. Kruti Lehenbauer & Analytics TX, LLC. - Share/repost my Newsletter with your network. - Comment on topics that you enjoy reading about. - Recommend me to SMBs seeking a Data Scientist/Advisor. - Refer me to 3M so that I can get some free Post-its & pens! ????