Executive Briefings

Benefits of Big Data Management Can't Be Denied, But Investment Can Be Large

The payoff from joining the big-data and advanced-analytics management revolution is no longer in doubt. The tally of successful case studies continues to build, reinforcing broader research suggesting that when companies inject data and analytics deep into their operations, they can deliver productivity and profit gains that are 5 percent to 6 percent higher than those of the competition.

Benefits of Big Data Management Can't Be Denied, But Investment Can Be Large

The promised land of new data-driven businesses, greater transparency into how operations actually work, better predictions, and faster testing is alluring indeed.

But that doesn't make it any easier to get from here to there. The required investment, measured both in money and management commitment, can be large. CIOs stress the need to remake data architectures and applications totally. Outside vendors hawk the power of black-box models to crunch through unstructured data in search of cause-and-effect relationships. Business managers scratch their heads"”while insisting that they must know, upfront, the payoff from the spending and from the potentially disruptive organizational changes.

The answer, simply put, is to develop a plan.

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Keywords: supply chain management, supply chain management IT, supply chain solutions, business data analytics, data mining, data-driven supply chains

The promised land of new data-driven businesses, greater transparency into how operations actually work, better predictions, and faster testing is alluring indeed.

But that doesn't make it any easier to get from here to there. The required investment, measured both in money and management commitment, can be large. CIOs stress the need to remake data architectures and applications totally. Outside vendors hawk the power of black-box models to crunch through unstructured data in search of cause-and-effect relationships. Business managers scratch their heads"”while insisting that they must know, upfront, the payoff from the spending and from the potentially disruptive organizational changes.

The answer, simply put, is to develop a plan.

Read Full Article


Keywords: supply chain management, supply chain management IT, supply chain solutions, business data analytics, data mining, data-driven supply chains

Benefits of Big Data Management Can't Be Denied, But Investment Can Be Large