A STUDY ON PREDICTIVE ANALYSIS OF BUDJECT FORECASTING AND COST OPTIMIZATION IN UNIPRES INDIA PRIVATE LIMITED
A STUDY ON PREDICTIVE ANALYSIS OF BUDJECT FORECASTING AND COST OPTIMIZATION IN UNIPRES INDIA PRIVATE LIMITED
Authors:
Ashika S1,
- S. Satheesh Kumar2
1Student, Department of MBA, Panimalar Engineering College, Chennai.
2Assistant Professor, Department of MBA, Panimalar Engineering College, Chennai.
Abstract: This study analyzes the importance of predictive analytics in enhancing budget forecasting and cost optimization in a manufacturing firm, namely Unipres India Private Limited. Financial planning is frequently inaccurate as a result of traditional budgeting techniques' inability to adjust to changing business situations. The goal of the project is to examine how predictive analytics methods improve forecasting precision and facilitate data-driven decision-making. Over the course of three years (2022–2025), secondary financial data was used in a quantitative research design. Trend analysis, gap analysis, correlation analysis, and moving averages were among the analytical tools employed. The results show that real sales and earnings routinely surpassed projected amounts, pointing to shortcomings in conventional budgeting techniques. Predictive analytics assisted in spotting patterns, minimizing forecasting mistakes, and managing costs by improving understanding of cost drivers. The study shows that predictive analytics greatly enhances financial performance, operational efficiency, and strategic planning in manufacturing companies.
Keywords: Predictive Analytics, Budget Forecasting, Cost Optimization, Financial Planning, Manufacturing, Data Analytics