It seems like everyone is getting on the big data bandwagon these days. But there’s a difference between collecting the massive amounts of information that qualifies as big data and having the tools and strategy to use it. And the larger your company’s reach, the greater the amount of data you’re collecting.
When it comes to logistics, this data can include anything from gas mileage from your trucking company to customer contacts like email addresses and social media connects. This data has the potential to provide greater visibility, improved intelligence, and increased control over spending. However, finding ways to manage and analyze big data can be overwhelming.
But technology companies— especially big names like IBM —have made big data their big business. If you’re looking for ways to improve internal data management, take a look at how these companies are dealing with the systemic and structural challenges due to growth and globalization.
IBM Procurement Solutions at a Glance
The goal for IBM is to help a business take the myriad data they collect every day and determine the context in which to use it.
These solutions allow businesses and logistics solutions teams to manage data across a global environment, while making the most out of complex processes. Additionally, IBM’s software even helps companies find underlying links in data that, at face value, appears to be incongruent and distant.
An IBM system begins by determining if the data relates to anything. If it does not, the data is left alone. If it does relate, it is added to a group or connected to another piece of data. Some of the observations of data can result in novel discovery. An even more interesting feature is how, as the size of the work space expands, there is an increase in computational effort.
A tipping point occurs when there are enough observations. As computational effort declines, there is an improvement in confidence of data. To use a practical example, think of what happens when you search for something in Google. The search engine will suggest words and phrases to improve your results, removing errors and forming links due to familiarity with the data.
The Value of Logistics Software and Data Mining Tools
There are several forms of procurement solutions at IBM, all of which can be categorized according to their use. However, IBM isn't the only company creating software and data mining tools that help you collect, analyze and interpret data.
Whether you are looking for cost effective, open source software, such as Shogun or Dlib, or the wealth of data mining tools noted by KD Nuggets, you can easily find something to meet your data demands. These tools can help you move from collecting data to the point of being able to transform your data into actionable pieces of information.
But with all of the tools and systems that are available, you need to make sure that you’re choosing one that will best serve your needs. To help determine what features and capabilities you will require, and assist in the start-up of data collection for your company, considers these aspects of the data collection process:
- The need for data warehousing
- Ever-changing business demands will require flexibility
- An ability to present collected data in a way that is useful, i.e. charts, graphs, tables
- The size of the database needed
- The complexity of the query associated with data collection and analysis
The Bottom Line on Big Data
In order to stay competitive, your company must be forging ahead with context accumulation through the processes of fitting or connecting data together.
What has your experience with data management been? Are you already utilizing procurement solutions, such as those available via IBM, or are you sitting on the fence of data management? Do you want to learn more about logistics solutions in relation to your business needs? Share your thoughts in the comments below!