Learning BIG DATA

Origination to Opportunities

Here are the top opportunities for Big Data in business :

1. Enhance Information Management.
Big Data enables enhanced discovery, access, availability, exploitation, and provisioning of information within companies and the supply chain. It can
enable the discovery of new data sets that are not yet being used to drive value.
2. Increased Operations efficiency and maintenance
Better modelling enabled by Big Data analytics allows for more accurate decisions, continuous productivity improvements through automation, leaner
operations, and optimized servicing through predictive analytics.
3. Enhance Product and market strategy
Big Data analytics can enhance customer segmentation, allowing for better scalability and mass personalization. It can improve customer service levels,
enhance customer acquisition and sales strategies (through web and social), as well as enabling customization of delivery.
4. Improve demand management and production planning
Big analytics can provide insights for product launch and release planning, and increased granularity of planning levels allows for optimized, shorter
planning cycles.
5. Innovation and product design benefits
A wide variety of data streams can aid innovation and product design. These include utilizable product usage data, point-of-sales data, field data from
devices, customer data, and supplier suggestions to drive product and process innovation.
6. Positive financial implications
Big Data can reduce long-term costs, increase ability to invest, and improve understanding of cost drivers and impacts.
7. Increased supply chain visibility and transparency
Big Data can increase supply chain visibility and transparency through real-time control, and multi-tier (process, decision, and financial) visibility
irrespective of data location. According to the experts in the study, the impact of enhanced corporate information availability on the visibility and
transparency of the supply chain represents the second most relevant opportunity on the corporate level.
8. More integration and collaboration
Big Data can enable better integration and collaboration within supply chains. Adopting cross-functional integration and collaboration approaches with
key partners can build a culture of trust, leading to higher levels of information sharing, and helping to optimize across the whole supply chain ecosystem.