Online readers were asked about the topic of big data and forecasting software in a survey commissioned by Blue Yonder and FOCUS Online. About 1,100 people took part and the majority of people who know about big data, connect it with predictive analytics.
Almost a quarter of the FOCUS Online readers (23.3 percent) who were asked connect big data with the analysis of large data quantities. More than 60 percent know predictive analytics and about a fifth are already creating forecasts based on big data. The sophisticated big data analysis processes are used when things get tricky; for instance, when the question is: which and how many perishable articles will a retailer sell tomorrow at a shop in the city centre? How high is machine utilisation? Is a machine giving signs that it is about to fail?
Our software is without peer and is the best in providing answers to these questions, and most of all, it provides answers very fast. Approximately 36 percent listed real-time analysis as the central challenge of big data. Representatives of diverse industry sectors and specialised areas view being supplied with clear information, at the push of a button, as very desirable. Sales planning and inventory management, customer analysis and — above all — forecasts in industry (over 60 percent) are viewed as among the most essential applications.
On the way to the predictive enterprise
Already today, the range of applications of predictive analytics in industry is very broad: Approximately 30 per cent of those asked said that they reduce unplanned stoppages using predictive machine monitoring. Almost as large is the group of those who automate their processes with real-time forecasts. A fifth plans to analyse sensor data using forecasting software. A current study by the independent market research and consulting firm, Pierre Audoin Consultants (PAC), points out that the readiness to get involved in Industry 4.0 is twice as great at auto suppliers as it is in the machine- and equipment-manufacturing sector.
That can be attributed to the tight links in the automotive supply chain. It is the same, whether it is a middle-sized automotive company, the local machine builder or equipment construction company or trader: It is the task of the software provider to make available simple-to-implement analysis options for big data. Software providers must put enterprises in position to automate their core processes without a lot of effort required and to help them be able to make decisions on the operative level with confidence, all supported by software. In the FOCUS survey, representatives of all economic sectors viewed the importance of big data for Germany as a place for doing business as great. Blue Yonder strives to provide you with intelligent forecasting tools for your individual big data projects.