"By adopting advanced analytics into the supply chain, businesses can run more efficiently, mitigate risk, and ultimately offer a better customer experience"
More and more businesses are going digital, and the result is that a large amount of data is being produced within their supply chains. Data is useless without the tools that allow organizations to order, understand and gain deeper insights from it. Two already stand out: 1) the future of supply chain digitization will be driven by data and analytics; 2) numerous advances powered by technologies like predictive analytics (as machine learning and deep learning) and location intelligence are improving the way the entire supply chain makes use of data; 3) massive amounts of data are linked to physical locations and many organizations are analyzing location data to uncover geographic insights that can give them a competitive edge in their own supply chains to cut costs and improve service levels; 4) logistics companies are now able to create a 3D model of their operations and assets in order to run analyses, through simulations, using the digital copy of physical assets combined with machine learning algorithms to recommend maintenance or alert personnel to unusual activity based on pattern recognition. As digital transformation continues to accelerate along with the data that organizations can collect, business executives face the tantalizing prospect of deriving even more value from big data.