January 2023 | 9-minute read
Tagged: RetailAnalytics | SupplyChainOptimization | AIinRetail | DemandForecasting | InventoryManagement | AmazonForecast | MLforRetail | RetailTechnology | GanitSolutions | AutomatedOrdering | RetailEfficiency | RetailInsights | DataDrivenRetail | SupplyChainSolutions | RetailSuccess
One of the critical responsibilities of the financial control team in any organization is to ensure the efficient functioning of the company’s cash flow. To accomplish this, they must source multiple data from various functions/divisions within the organization, analyze this and then identify cost-efficiency avenues and past leakages.
Ganit is an AWS Advanced Tier Services Partner that provides intelligent solutions at the intersection of hypothesis-based analytics, discovery-driven artificial intelligence (AI), and new-data insights. Over the years, they have successfully deployed Business Intelligence systems on AWS cloud environment with Data Lake and Data Warehouse being the core of the solution. This system has helped many of their clients reduce significant man-hours in the creation of reports and spend more time on driving action to improve their top-line and bottom-line numbers.
Ganit’s client is the financial control division of an Indian subsidiary of a large apparel manufacturer in India, tasked to optimize expenses across divisions and ensure functions operate most efficiently.
To achieve their goals, the client (financial control team) was facing a few key challenges.
Some key constraints laid out to Ganit team from the client to consider before building the solutions:
Given the above challenges the client was facing, and the constraints provided by their IT team, Ganit team suggested the client to create a data lake on a cloud environment which would act as a single source of truth (both structured and unstructured data) for all its Business Intelligence reporting needs. Amazon QuickSight was chosen to be the reporting UI layer for business intelligence.
AWS was finalized as the cloud provider as its ecosystem allowed:
Technical Architecture deployed in production system:
We configured the transactional systems to push incremental data to a remote FTP server during this process. The finance team also manually create reports like budgets and revenue targets; our client can place these files directly in an Amazon Simple Storage Service (S3) bucket location using the AWS console. S3 supports both data encryption in transition and at rest.
We used AWS Glue for data orchestration and ETL tool as it is a one-stop solution for the following reasons:
Using Amazon Athena, we created tables and views which could directly connect with Amazon QuickSight. We utilized key features of Amazon QuickSight during the report development journey.
Setup to ensure maximum security of data:
We used native AWS security provisions to ensure data encryption is easily integrated at rest and in transit. Amazon S3 uses SSE-S3 to encrypt data at rest. AWS Glue enables encrypting data in transit using KMS (AWS Key Management Service). Encryption for Data at rest in AWS QuickSight’s SPICE memory was using AWS-managed keys service.
Production System Governance:
For smooth functioning and governance of the infrastructure built, we enabled the AWS CloudWatch service to capture and check all the processes’ logs. AWS CloudTrail was set up to track all API calls across the AWS account. We used AWS IAM (Identity Access Management) to manage access to different AWS services for various users, groups, or roles across the account. We sent alerts to the user during job failures using the AWS Simple Notification Service (SNS).
Sample Snapshots of Business Intelligence Board built on Amazon QuickSight
A scalable, cost-efficient, and robust system addressing all challenges and constraints laid out by the client was built using a Data Lake in AWS Cloud environment. This system led to a potential savings of ~1000+ Manhours every month. It enabled our client to proactively track and monitor cost leakages and take appropriate actions immediately, which could have led to a potential benefit of ~1–2% improvement in bottom-line numbers.
Ganit has successfully automated the entire financial control monitoring system for its client by empowering their decision making leveraging the plethora of services offered by AWS.
We recommend you kick-off your data transformation journey on the cloud with AWS to propel your organization’s growth by benefiting from its wide range of services.
To learn more about Ganit and its solutions, reach out at email@example.com.