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Betting on Analytics as Supply Chain's Next Big Thing

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elctrnx_lyf
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Accuracy of data
elctrnx_lyf   5/4/2013 2:16:24 AM
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I do not believe the supply chain can completely upon real time processing as long as there is various dynamic conditions such as customer demand, global economic and enviromental fluctuations. But once setup these software can learn themselves to make better decisions after long time usage. But in the end we stll need humans with right experience to understand these reports.

SP
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Betting on Analytics as Supply Chain's Next Big Thing
SP   5/4/2013 8:50:57 AM
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agreed. Analytics is the next big and important thing for supply chain industry.

nimantha.d
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Re: Betting on Analytics as Supply Chain's Next Big Thing
nimantha.d   5/5/2013 12:28:37 AM
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@SP: You can do wonders if you get the correct analysis done with correct tools. For that to happen you need hands on experience on those tools. 


anandvy
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Re : Betting on Analytics as Supply Chain's Next Big Thing
anandvy   5/5/2013 4:30:24 AM
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with 71 percent of respondents noting that current analytics tools need to be more predictive and go beyond providing information about prior performance,

@Jennifer, thanks for the post. The survey clearly shows that companies expect more power analytical tools which can help them predict the trend. But its also imporant for the companies to train people with analytical skills so that they can make sense of huge amount of data that is being generated.


anandvy
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Re: Accuracy of data
anandvy   5/5/2013 4:34:46 AM
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But in the end we stll need humans with right experience to understand these reports.

@elctrnx_lyf, I totally agree with your opinion. We still need humans with right experience to understand these reports. If we can't properly interpret the data that is being generated by such tools then implementation of such analytics will add zero value to the company. So its very important to have right tool and right people to take advantage of Analytics.


SP
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Re: Accuracy of data
SP   5/5/2013 9:48:57 AM
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like in sports they develop software how the opponent team plays...to be particular how a strong player from the opponent player will play. at the end you need someone to analyze the software and make his own game plan.

TaimoorZ
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Re: Re : Betting on Analytics as Supply Chain's Next Big Thing
TaimoorZ   5/5/2013 10:11:16 AM
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@anandvy: I think apart from better tools, corporate users are also looking for more convenience when it comes to data related to supply chain. For instance, the trend towards analytical tools in the form of smartphone apps is getting quite common and more and more companies are looking to facilitate the users through these.

TaimoorZ
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Supply Network Guru
Re: Accuracy of data
TaimoorZ   5/5/2013 10:15:52 AM
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" do not believe the supply chain can completely upon real time processing as long as there is various dynamic conditions such as customer demand, global economic and enviromental fluctuations."

@electrnx_lyf: I agree. The tools can help the users in obtaining data in larger quantities and with more frequency but the decision-making cannot be completely autonomous. The human element will always be there because of the dynamic nature of the supply chain.


anandvy
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Re: Re : Betting on Analytics as Supply Chain's Next Big Thing
anandvy   5/5/2013 1:04:11 PM
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For instance, the trend towards analytical tools in the form of smartphone apps is getting quite common and more and more companies are looking to facilitate the users through these.

@TaimoorZ, I agree with you. Such initiatives will really help the companies to collect  opinion  from large section and thus the end result generated by the analytics will be more realistic. 

Ariella
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Supply Network Guru
Re: Betting on Analytics as Supply Chain's Next Big Thing
Ariella   5/6/2013 10:01:31 AM
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@nimantha.do yes, you need the right tools, the right data, and the right questions to ask.

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