The Ledger

Digital Transformations Are Only as Successful as The Data Source

“It’s no secret that AI and machine learning have become the top wish-list items among CIOs and CEOs. However, the real potential of AI can be reached only if your organization’s data, which AI relies on, is accurate and business-relevant. You need to trust the source of the data being used to feed AI programs, and the data must be governed properly across the organization. This fundamental piece of the AI and machine-learning puzzle is critical for allowing AI and machine-learning technologies to “learn” how to evolve intelligence and make smarter recommendations for the business. It is also based on the premise that knowledge from the past and present must be preserved, as it ensures valuable reuse and time to market.” 

Read More at The Digitalist by SAP >

What is Holding Manufacturers Back from Adopting Advanced Technologies?

The landscape of business is changing due to digitalization and the introduction of advanced technologies. The manufacturing industry has always been seemingly content with how they operate their supply chains. Because of this, many manufacturers have deemed digitalization unnecessary. However, with product life-cycles getting shorter and competition tightening among industries, these businesses can’t afford to keep their processes the same much longer. So, why are manufacturers so hesitant to shift to new tools and processes? There are four common misconceptions about digitalization that could be hindering them from taking the leap to new technologies.

Read More at Manufacturing.Net >

How CFOs Are Using Predictive Analytics to Improve Business Decisions

 “CFOs can play a prominent role in building and managing their organization’s analytics capabilities, especially given new tools that allow organizations to use analytics for predictive or prescriptive purposes and improve decisions around planning, capital allocation, investments, M&A and other areas.”

It is important for businesses to look beyond typical reporting and descriptive analytics for decision making. These outdated practices merely summarize what has already occurred. Business leaders are rapidly adopting predictive analytics, which can guide decision makers toward a profitable course of action through optimization and scenario analysis. Predictive analytics’ basic principle is that once an organization establishes an efficient statistical model based on past data, it can begin to extrapolate that data to look at the future. There are four areas where CFOs should be focusing their predictive analytics efforts to keep up with the competition.

Read More at The Wall Street Journal >

How Much Are Your Supply Chain Practices REALLY Costing You?

For complex manufacturers, last minute issues can be very common and often time consuming. Complex manufacturing means complex processes and machinery, and without a way to track progress or the ability to pinpoint an inefficiency, there is no way to predict what could happen in the future. In many instances when an issue arises, every department becomes focused on expediting the most pressing task or process to ensure things get done on time, resulting in additional costs. Instead of constantly putting out fires, these businesses need a fully-integrated business platform that enables full end-to-end visibility of the company’s entire value chain.

Read More at Industry Week >