Data has been used in some industries sectors for years. Customer profiling and analysis has been popular for decades, assessing what a customer wants to buy almost before they even realise. Its been interesting to see how the use of data has now started creeping into other sectors but also what businesses actually do with the data
There were two trends that caught my eye in terms of using data in 2022
Supply chain – I know from talking with Clients globally that supply chain is causing big issues and is currently one of the big pain points . A Chief Digital Officer at a manufacturer stated “We’re trying to leverage data and AI and ML — we’re trying to do all kinds of things there to make us more advantaged in terms of how we deliver our supply chain capability.”
Sustainability – Simulation has been used in industry for many years and has historically looked at the projected revenue and profit impact. Simulation is now used to look at it in terms of environmental impact such as CO2 and waste. As one CIO at a big manufacturer noted ‘The Factory of the Future uses digital twin to identify the source of the waste steam, which can then be captured and used to power another process in the factory.’
Historically data has been utlised to increase revenue, decrease costs but as more and more data is captured we are starting to see much wider applications into today’s big issues; Supply Chain and Sustainability.