Analytics and the Information-Driven Enterprise
Keywords: Information Technology (IT), Plant Floor, Collaboration, Scheduling Algorithms, Analytics, Business Intelligence (BI), Enterprise Manufacturing Intelligence (EMI).
What does it mean to be information-driven? There are many dimensions to the answer. An information-driven enterprise uses many of the latest disruptive information technology (IT) solutions to its advantage. For example, an information-driven manufacturing company may utilize tablets and smart phones on the plant floor for collaboration and quick response, deploy one or more applications in the cloud, evaluate suppliers based on past performance data, and rely on advanced scheduling algorithms to manage its outbound transportation needs. In addition, the company might be tracking customer sentiment and getting feedback on new product design ideas using social media, and exploring how Big Data might help it optimize operations. This report focuses on one key dimension; the use of analytics in information-driven companies.
By any measure, the use of analytics and business intelligence in industrial companies is growing rapidly. For more than a decade, the information workhorse has been the business intelligence (BI) platform, supplemented by enterprise manufacturing intelligence (EMI) in the plant. These systems excelled at helping users discover and understand the underlying reasons and details about what happened and why. Now, the industrial space is becoming much more dynamic. Manufacturers need to anticipate changes in order to take appropriate measures in time to make a difference. Increasingly, they are turning to predictive analytics to accomplish this.
Today, the analytics and business intelligence market is in a state of rapid change and flux. As new technologies and new ways of doing things surface, more companies feel the need to use the solutions and more employees throughout the enterprise want more and better decision-support tools. In addition to a host of significant business and technology trends, four overarching trends are transforming the industry: Big Data, predictive analytics, self-service/embedded analytics, and cloud-based analytics.
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