The phrase “operational intelligence” has been floating around a lot lately. And with the phrase comes impressive claims that operational intelligence yields improved performance and visibility for supply chain operations.
According to Ventana Research, operational intelligence is defined as, “a set of event-centered information and analytics processes operating across the extended organization that enable people to take effective actions and make better decisions.” In other words, the operational data that you’re already generating can be transformed into actionable information through advanced analytics solutions.
This might sound very complex, expensive, and time-consuming. But, at Savi, we know that there are many benefits to investing in operational intelligence. We know this because our sensor data analytics solutions are already yielding impressive operational intelligence to our supply chain customers.
Let me share five reasons to invest in operational intelligence:
- Cut costs: You no longer need to purchase inefficient business intelligence (BI) tools or expensive event processing systems because today’s open source technologies are able to process large volumes of operational data very quickly. As a result, software as a service (SaaS) solutions are readily available for implementation—saving you time and money.
- Implement easily: Advanced, purpose-built solutions are easier to integrate into already existing processes as well as easier to navigate due to user-friendly automations. These solutions handle the complexities of collecting and analyzing data, so you can take action on the results.
- Improve performance: Real-time visibility into your operations affords the opportunity to better predict transit times and plan shipments for accurate on-time arrivals. With better insight into your supply chain operations, you are able to forecast future outcomes and improve overall performance.
- Reduce risk: Prevent operational disruptions and mitigate the risk of loss or damage to high-value goods with real-time visibility and proactive identification of high-risk locations.
- Stay competitive in the market: With advanced machine-learning capabilities, operational intelligence analytics get smarter and smarter as more data is gathered over time. This allows you to identify opportunities for improvements to internal processes and external partners using evidence-based cases.
Go here to understand how sensors, IoT, and data analytic solutions work together to give you a competitive advantage.