Business Chief USA July 2019

TECHNOLOGY
50
are going to buy by having strong
insights into data on what influences
customer behavior. For example, a few
years back, Amazon became famous
for predicting demand. In fact, they
were so good at it, that they were
shipping goods before the customer
even purchased them.
All companies need to have a view of
the latest technology for predicting
customers purchasing behavior. As
buying cycles continue to grow shorter,
there is no longer time to procure and
supply a product without advance
preparation. Ultimately, in order to not
miss out on profitable opportunities,
and to have a more focused organisation
of the supply chain, a modernised
data strategy that involves predictive
analytics for both the supply and
demand sides is necessary. A ‘better’
data strategy is one where enterprises
have a single view of all data points and
these are integrated to respond in sync
with unit changes. An integrated data
strategy helps move the fulfillment
chain in three phases - increasing
visibility thereby reducing variability
and finally increasing velocity. All these
three phases require a different yet
integrated data strategy.
JULY 2019