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Topic: Data Analysis
Edge Analytics: The New Frontier in Predictive Maintenance
Edge analytics is a decentralized data analysis method that’s becoming increasingly valuable in predictive maintenance (PdM) practices, offering real-time data analytics, lower data storage costs, and minimal data transmission, which can significantly enhance operational efficiency and asset reliability for asset-intensive companies in the Industry 4.0 era
Part 2: How to Successfully Drive Efficiency & Automation with Predictive Maintenance
In Part 1 of the Predictive Maintenance (PdM) series, we spoke of the various benefits of PdM and explained how advanced IoT-based tech has been integral in effectively obtaining these benefits. Since most maintenance functions today follow a reactive maintenance philosophy, making the leap to PdM, or even a hybrid maintenance model, might seem like… Continue reading Part 2: How to Successfully Drive Efficiency & Automation with Predictive Maintenance
Part 1: How Can Predictive Maintenance Give Manufacturing 4.0 a Boost?
In the aftermath of the COVID-19 pandemic, businesses, particularly those in asset-intensive industries, are actively attempting to strike a balance between cutting costs and optimizing asset availability. Maintenance operations are one area that is being extensively investigated in this regard, as in asset-heavy enterprises, maintenance is a crucial component of profitability. While conventional approaches to… Continue reading Part 1: How Can Predictive Maintenance Give Manufacturing 4.0 a Boost?
Total Cost Optimization: Leveraging Analytics to Optimize CPG Supply Chain Costs
Cost-efficiency focused: The current state of supply chains As shifts in procurement and sourcing costs result in increased supply chain expenditure, CPG leaders across the world have had to re-evaluate their long-held unit-based pricing strategy. Now, with 47% of consumers switching to click-and-collect services to buy consumer packaged goods and brand loyalty taking a hit… Continue reading Total Cost Optimization: Leveraging Analytics to Optimize CPG Supply Chain Costs
Dashboards to Decision Boards: Heralding in NextGen Analytics Consumption
A Gartner study revealed that by 2025, data stories are likely to be the most widespread method of consuming analytics, and 75% of data stories will be automatically generated through augmented analytics. Experts in the industry opine that while there is no dearth of data in the world today (in fact, by 2025, the amount… Continue reading Dashboards to Decision Boards: Heralding in NextGen Analytics Consumption
Seven Ways to Leverage Data Science in the Banking Industry
Data-driven sales initiatives: Personalized, customer-centric sales and marketing efforts yield better ROI than a one-size-fits all approach. However, studies have shown that 94% banking firms fail to deliver on their promise of personalization.[1] With data and analytics-driven initiatives, banks can gain access to extensively segmented customer demographics, and target marketing initiatives by mapping products, offers, cross-selling… Continue reading Seven Ways to Leverage Data Science in the Banking Industry
How Can Companies Enhance Their CRM Initiatives with Augmented Analytics?
Delivering top-notch consumer service is undoubtedly the priority of every business. In order to ensure that consumers are delighted with products and services on offer, having a robust voice of customer analysis, i.e., a detailed analysis of consumer preferences and feedback is important. Customer feedback has also proven to be pivotal to operational success and… Continue reading How Can Companies Enhance Their CRM Initiatives with Augmented Analytics?
Predictive Analytics: Unlocking New Avenues for Public Transportation
According to recent research from Valuates, the global smart transportation market is set to grow at a CAGR of 8.3% from 2021–2026, reaching a value of $121 million by the end of the forecast period.[1] One of the factors contributing to this growth is increasing government investment in smart cities and intelligent transport systems (ITSs), requiring… Continue reading Predictive Analytics: Unlocking New Avenues for Public Transportation
Reimagining Premium Retail Brands in a Post-COVID World
A BBC report revealed that “Retailers suffered their worst annual sales performance on record in 2020, driven by slump in demand for fashion and homeware products,” and that the sales records were the worst in 25 years. [1] From fluctuating consumer behavior to disruption in supply chain and a drastic fall in demand for premium products, companies… Continue reading Reimagining Premium Retail Brands in a Post-COVID World