The Ledger

External Data Can Boost the Value of Your Analytics

Today’s business atmosphere requires companies to not only advance their data analytics capabilities, but to also master the process. To boost the business value of their companies’ analytics efforts, leaders can adopt key practices to navigate the complexity of third-party data. Companies know they can gain valuable insights by analyzing the data they generate from their operations. But internally generated information can leave gaps, and companies are increasingly moving to incorporate new, nontraditional, and external sources of data into their analyses.

Read More at Deloitte Insights >

Manufacturers Are Shifting from Being Preventative to Predictive

For many manufacturers today, the focus of their business is not so much producing products for sale as it is delivering better business outcomes for their customers through asset-as-a-service offerings. Leading organizations use an intelligence-based approach, where maintenance teams monitor conditions in real time using an enterprise asset management tool. For asset manufacturers, real-time analytics and predictive maintenance create the opportunity for entirely new business models. In the past, manufacturers made the assets and customers operated them. Today, these boundaries are blurring as manufacturers leverage new asset-as-a-service business models and deliver outcomes rather than just the physical assets.

Read More at Forbes Magazine >

Dynamic Technologies Have Become Necessary to Remain Competitive

Dynamic technologies provide businesses the opportunity to elevate their ability to make decisions, deliver outcomes, and complete tasks in a more human way. For growing companies, this is the time to push past the boundaries of traditional decision-making capabilities to intrinsic intelligence that is trusted, real-time, accurate, and continuously learning. Advanced technologies can empower businesses to overcome the challenges of limited technology procurement budgets and siloed legacy applications. Because of this, robust technologies that provide actionable insights across the enterprise have become necessities and enablers of significant competitive advantage.

Read More at The Digitalist by SAP >

Predictive Insights Are Advancing the Oil Industry

“Data-driven decision making and predictive capabilities will be essential across the life cycle of our unconventional assets-from delineation and appraisal through full field development” – Bruce McCullough, CIO at Marathon Oil

Being able to think and act differently than the competition is the goal in every business, and the oil industry is no different. Understanding what is happening below the surface has been the focus for oil companies over the years and adding digital technology into the equation allows these companies to creatively leverage their large data sets to gain deep insights into the business. Looking at the data through an analytical lens allows businesses in the industry to rely on predictive insights to answer questions like, “Where is the best place to drill? How far apart should the well walls be? And, what will be the ultimate recovery for the well?”

Read More at The CIO Review >