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Predictive Analytics Takes Its Place in the Electronics Supply Chain

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FLYINGSCOT
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Supply Network Guru
Hollywood
FLYINGSCOT   9/20/2013 12:30:35 PM
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Precogs ?  Was this not from a movie called Minority Report.  I hope their software is less dramatic that what I saw in that movie ;-)

Eldredge
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Supply Network Guru
Re: Predictive analytics
Eldredge   9/19/2013 8:49:43 PM
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@Hailey,

   Yes. And a similar addage that I particularly like is " I thought I was wrong once, but I was mistaken."

    After all, where would we be without predictions? They add order to our world. Sometimes, they provide easy targets (i.e. weather forecasts).

HaileyMcK
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Blogger
Re: Predictive analytics
HaileyMcK   9/19/2013 12:24:37 AM
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Today's systems yield so much rich information, and when it's brought together, it can yield really fruitful results. At the same time, I wonder about the cybersecurity implications of all this data being collected and stored. It seems like it would be a rich haul for some smart cybercriminal. Do you think the supply chain is thinking about this issue much?

HaileyMcK
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Blogger
Re: Predictive analytics
HaileyMcK   9/19/2013 12:21:57 AM
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Eldredge, have you ever heard the saying "All generalizations are false, including this one." :) that being said, predictive analtyics may not be perfect, but i suspect that it gets us closer to the target and any movement in the right direction yeilds good benefit.

nimantha.d
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Supply Network Guru
Re: Predictive analytics
nimantha.d   9/17/2013 11:23:29 PM
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Predictions will go wrong when you do not analyze deep into the subject. Analysis should be done thoroughly. It should not be done for the sake of doing it. As long as its been done in a proper manner and have been analyzed at different levels, the predictions going wrong will be minimized.  

Eldredge
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Supply Network Guru
Predictive analytics
Eldredge   9/17/2013 8:45:16 PM
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I have always heard that the one thing you can be certain of is that predictions will be wrong. Of course, the key become, how wrong (or how close) wiill they be from reality. Sounds like an interesting and exciting aspect of supply chain management!



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