Just when 90% of big data is practically available for generating new business why are some leaders having trust issues with the information it releases? Does the problem lie with digital illiteracy or bad integration approaches that interrupt scalability and capabilities? In some cases, both these factors are responsible for certain CPG and Retail supply chain companies to lag behind in leaping into the new revenue generation possibilities. Let’s understand how new patterns and technological changes are creating a revolution and why it is essential to trust Big Data implicitly and the 4-dimensional values it possesses.
What does big data contain?
The four important pillars of big data are:
Most breaches and trust issues deal with the above pillars in some way or the other and stop a business from expanding or reaching its full potential. Many enterprises are not able to deal with them and as a result, fail to understand the additional values it presents. Unfortunately, the older generation is used to doing things in a conventional manner and cannot get themselves digitally ready. This also poses a different set of problems in companies where the new generation is set to take over the vanguard. Fraught with the pains of migrating, several reputed companies face issues with myriad apps and integration systems. For example, if there is a delay of even two minutes it could ruin the reputation of the vendor. A fraud can be detected and action taken immediately. This adds to the value of the supply chain in a big way. Another strong pillar- Variety showcases how data can be captured in various streams. Now audio and visual media bring in information for any enterprise to make a transformation, collaborate, trade with new partners and ensure consumers are happy no matter where they are located. For those who are unable to understand that big data can be trusted, it is a time bomb ticking to intervene and make the Big Leap. Of course, it is not the size of information that matters, but what is done about it and its usage. It is up to the leadership to comprehend the value addition to bring agility to the processes. If an enterprise is able to avoid 5 most common mistakes while migrating, it could help in utilizing the big data more effectively.
Solution providers for modern integration
Companies that have failed to take off the technology journey can identify with the above 5 integration issues. It is now important for CPG and Retail supply chain companies to ensure that along with the big data to learn about various solutions which stop them from scaling the potential to earn more. They can simply use integration methods that pack a punch with flexible options. A few of them are listed below as a ready reference.
- Enable analytics to function once the data accelerates. It will need to have security for pipelines and several data lakes that are created as information flows continuously.
- It is advisable to invest in a single platform which is easy to navigate. It should be capable of handling various data sources, protocol, API, location, and different file sizes.
- Modern channels include embedded integration methods. It is ideal for B2B companies and several trading partners.
- All capabilities should be updated and upgraded with the new systems. This is the key for CPG and Retail supply chain companies to move ahead of stiff competition.
- There is a virtual need for some very robust EDI capabilities. It is known to improve functionality in a big way.
- Legacy systems that are outdated should be done away with. As mentioned earlier, they slow down the business potential.
- File accelerations need to bring forth live data quickly to any location and with least amount of download time.
Maintaining integrations essential
Just as a business needs to innovate and bring new designs and products to the market to maintain its position, so is the case with the digitizing. Constant upgrade ensures that business is not killed. There are several managed services that can help an enterprise to harness the big data in a big way. Automation has become the keyword for supply chains. It is not time to trust your instincts and the big data that is an opportunity to trust and leverage.