Future Of Supply Chain Analytics Is Visual, Predictive
The majority of today’s supply chain analytics are “looking in the rear-view mirror” when it comes to evaluating performance, but realize the potential value of adopting advanced analytics, says a Supply Chain Digest benchmark study commissioned by Qlik highlights current and future state of supply chain analytics.
“Despite early stages of maturity, companies see significant potential from improvements in data management and analysis,” said Dan Gilmore, President and Editor in Chief at SCDigest. “Not surprisingly, improved supply chain decision-making tops that list, while similarly, becoming more ‘forward-looking’ was the number one opportunity identified by respondents from improved data management and analytics.”
More than 40% of respondents said they are still almost exclusively backward looking when it comes to data analysis. However, the vast majority expressed the belief that predictive analytics would bring value to users, enabling them to leverage data at the point of decision.
Additionally, more than 88% of respondents ranked advanced analytic capabilities as an outstanding or good opportunity for their organisation. Respondents also noted that making improvements in data and analytic capabilities was either a high priority or something they were already focused on doing.
The study revealed that while companies are realizing the value and urgency of implementing advanced analytics, few feel they are where they need to be. When evaluating their own current capabilities generally, less than 10% felt they had high levels of user system flexibility and empowerment, data visualisation and supply chain risk management capabilities.
“As organizations seek to implement more advanced analytics for the supply chain, it is imperative that business users see the whole story in their data, regardless of where or when they are making decisions,” said David Telford, Senior Director, Sector Group and Industry Partner Lead, Qlik.
- IoT Knowledge Gaps Exist In Consumer Product Industry
- How AI Is Fueling Customer Experience Strategies
- Third Party Digital Cos Will Generate Over $31 Bn This Year
- Intel Imparts AI Training To 9,500 Techies
- SAP Leonardo To Help Indian Firms With Digital Transformation
- 6 Jobs Artificial Intelligence Is Replacing Soon
- How IoT Impacts The Supply Chain In Flex
- Using Technology To Your Business Advantage
- Blockchain, Distributed Ledgers Will Take Time To Mature: Gartner
- 19 Milestones On Google's 19th Birthday