The benefits of data-driven analytical decision making are becoming increasingly apparent. Consequently, CEOs are accelerating plans to use data and analytics (D&A) to drive organizational growth. They realize that effective use of analytics increases revenue and improves profitability.
The business world is in a state of flux as new technologies continually change the way companies operate. The pace of innovation is fast. Those in the lead respond to changing market demands quickly and efficiently, leaving behind those who rely on inflexible and dated supply chains.
In the press, a great deal of attention is given to the concept of using drones to deliver parcels direct to people's homes as well as the use of autonomous delivery vehicles on the road. As exciting as these concepts are, a lot more work is needed before they are mature enough for large-scale implementation.
Are you up to date with how predictive analytics and machine learning could help your business?
The concept of organizational change sometimes creates apprehension among middle management and employees because of a perception that it is simply another tool used by management to cut back. Much of this comes from a lack of transparency, honesty and integrity on behalf of those driving change.
Emerging technologies go through what is described as a hype cycle. As presented by Gartner, this represents the curve technology goes through from inception to maturity. Critical phases include: