The Ledger

Manufacturers Need to Adapt to the Next Generation of Customers

Today’s consumers are changing, and this change is mostly attributed to digital technologies that are converging with the new attitude of the millennial generation. Today’s consumer wants everything immediately, at the click of a button, ideally customized, with discount options, assurance that the purchase can be returned if it doesn’t meet expectations (customer service), and perhaps most importantly, able to be delivered the next day, if not earlier. And not only are today’s consumers highly demanding, they are also in the powerful position of influencing a company’s brand via pervasive social media platforms. This has a disruptive impact on several industries, but in no other industry as much as consumer-packaged goods.

Read More at The Digitalist by SAP >

Combining Real-time and Past Data for Stronger Analytics

The demand for in-memory database systems that are capable of holding live transactional data and historical data together for real-time analytics is increasing at an enormous rate. An in-memory database approach that keeps live and historical data together delivers at least three solid advantages. First on the list is less work for IT pros. Without the need to constantly move operational data to data warehouses – typically with midnight batch loads that sometimes go wrong and need correction – you can free up your IT people to focus on higher-level activities. Second is speed. Transactional data is always available on demand, instantaneously, and is available for analytics just as quickly. Latency between when data is created and when it can be analyzed is almost nonexistent. This can accelerate decision-making dramatically. Third on the list is simplicity.

Read More at The Digitalist by SAP >

Can You Put a Price on Data?

The price of something is based on its value. Data is an important asset across many domains, but businesses are still struggling to find a way to verify that particular data has value. These same businesses tend to overestimate the value of their big-data supply, and often times get stuck with insights that are not completely accurate or relevant. The financial value of specific business insights can determine what a collection of data is really worth. So, how can finance leaders find that value?

Read More at The Sloan Review >

Traditional Inventory Management Practices Are No Longer Suitable For Success

“In order to remain competitive with e-commerce retailers and other brick and mortar rivals, physical stores will soon be adopting IoT and AI-enabled inventory tools as the standard, rather than the exception.”

With the increasing pressure of achieving optimal operational efficiency within physical stores, retailers must be able to achieve near-perfect inventory accuracy. For many retailers using traditional inventory counting methods in the apparel, fashion and soft goods sector, inventory accuracy can drop significantly, resulting in a poor experience for shoppers and lost sales.

Read More at MHL News >