- U.S. retailer supply chain operations who have adopted data and analytics have seen up to a 19% increase in operating margin over the last five years.
- Design-to-value, supply chain management and after-sales support are three areas where analytics are making a financial contribution in manufacturing.
- 40% of all the potential value associated with the Internet of Things requires interoperability between IoT systems.
Key takeaways from the study include the following:
- Location-based services and U.S. retail are showing the greatest progress capturing value from data and analytics.
- Machine learning’s greatest potential across industries includes improving forecasting and predictive analytics.
- Machine learning’s potential to deliver real-time optimization across industries is just starting to evolve and will quickly accelerate in the next three years.
- Enabling autonomous vehicles and personalizing advertising are two of the highest opportunity use cases for machine learning today.
- Designing an appropriate organizational structure to support data and analytics activities (45%), Ensuring senior management involvement (42%), and designing effective data architecture and technology infrastructure (36%) are the three most significant challenges to attaining data and analytics objectives.