Learning to effectively capture and turn data into operational intelligence is the future of business. Noting this, the role of cloud-based, artificially intelligent data management and usage tools are becoming increasingly important. These solutions can provide you with customer and operational insights that you can not only leverage to more effectively spot emerging opportunities and trends. You can also leverage them to optimize workforce processes, automate solutions, and reduce both consumption and costs. Making it possible to analyze and collect information more effectively, these high-tech tools can help you optimize performance, minimize failures, and – as a general rule of thumb – make overall faster and better business decisions.
For example, leaders in the clothing and apparel space are leveraging solutions such as these to optimize workflows, minimize expenditures, and reduce energy consumption by double digits – resulting in millions of dollars in aggregate cost savings. Likewise, some of the world’s best-known companies in the chemical production, pharmaceutical, and manufacturing industries (e.g. those involved in producing auto parts and printer paper) are leveraging AI and data-based tools to proactively identify areas for streamlining and growth, to the tune of nine-figure gains. By way of illustration, one vehicle plant responsible for producing over 600,000 automobiles every year was prone to frequent equipment failure. Using cloud data and analysis solutions, information from hundreds of pieces of equipment was scanned and analyzed in real-time to identify the problem – allowing the businesses to predict when failure might occur, proactively anticipate potential trouble spots, and address possible points of failure before they became an issue.
Bearing this in mind, whatever space that your business operates in, it’s important to remember that data-driven innovation can help you innovate, adapt, and recognize significant gains or cost-savings. To get ahead in tomorrow’s marketplace, don’t just make a point to leverage the best people and processes. Also make a point to equip yourself with the best technology tools for managing and making the most of information. You’ll be glad you did.