Before the technological advancement and the bursting popularity of all things digital, the information flow from the supply chain was recorded on paper. In today’s time, physical documents have become scarce for the technology has made it possible to store structured and unstructured data in digital format – popularly known as Big Data. This voluminous …
Data cleansing is a rigorous process in which erroneous, unfounded, and unethical data is discovered and removed from the database. The process also involves going through the database and detecting incomplete, improper, and irrelevant data and altering and modifying it to make it more accurate. Regardless of how systematic and organized, the data collection process …
Eric Schmidt, the ex-CEO of Google left us astonished, at Google’s 2010 Atmosphere summit when he said that in every 2 days we generate as much data as it has been collected since the beginning of times. Notably, he was only referring to the data collected up until 2003. eDiscovery also shared that while 70% …
Inventory is an indispensable part of every distribution business. It involves stocking merchandise for future use and always having it readily available when the businesses place an order. It sounds pretty simple, but that’s not it. In addition to providing the products at the right time, the distributors also need to ensure that they don’t …
Data analytics and automation is joining hands and transforming the way organizations access and manage risks. Essentially, enterprises – big and small – are collecting data, creating a full-bodied databank, and using all that cold hard scores to make decisions. Where boosting sales, improving processes, minimizing payment issues, and business growth are some of the …
As a trader, are you aware of the sales demand by the type of the products, the time period, and the region? Are you fully informed about the inventory of each of your products at the moment and how much would you need to stock in the future? Or should you even think of restocking …
It all starts with a great idea, something that seems like a wise investment and that’s how most startups come into existence. However, more than 90% of them ultimately end up failing. Matter of fact, every 8 out of 10 startups end up going bust in their 18th month. That is not to say that …
A large organization with specific data needs, and a wide range of datasets is best served in the long term by leveraging the available data to deliver useful and innovative insights about its business context, and to deliver those at a profit This in turn, calls for two distinct respective approaches: A “data laboratory,” staffed …
Analytics in the context of business, is about how an organisation arrives at the optimal decision based on existing data. Leaders may choose to make decisions based on past experiences or rules of thumb, or there might be other qualitative aspects to decision making, but unless data is considered, it would not be an …
The fundamental need for IoT Our hunger to improve our understanding has led to an insatiable thirst for knowledge, information, and thus, data. On the factory floor this is how data collection has evolved over the years. The primary roadblock with this evolution is the word ‘output’. It is a methodology which captures only lagging …
