Tag: supply chain

How Data-driven Trend Intelligence Makes a Business Future-ready

Data-driven decision is the new master-key for unlocking profitable business avenues. But what are the right steps to capitalize on big data potentials? Let’s find out!

Big data has become the bread and butter for most businesses by now. The obvious answer to gain a competitive edge is data-driven intelligence. So how do new trends influence business activities in organizations and what are its long-term impacts? Let’s explore!

What is Data-driven Trend Intelligence?

Data-driven trend intelligence is a technique where business owners gain cognizance about ever-evolving market trends like falling raw materials prices, increase in dollar rates and new geo-politics activities with the help of software & technology platforms. This type of trend intelligence has been helping business owners to map long-term implications of the COVID-19 pandemic and its effects to overcome supply chain disruptions, logistics availability and product delivery.

How Trend Intelligence Makes a Business Future-ready?

Trend intelligence helps business organizations to accurately predict, monitor and act on possible future trends that tend to influence consumer behaviors. For instance, the ongoing veganism trend in the food industry is compelling manufacturers to innovate in ready-to-eat products using plant-based foods.

How AI and Big Data Makes Trend Intelligence More Lucrative for Profits

Since artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions, AI holds potentials for trend tracking to help market players gain a competitive advantage. Since data is the new oil and has surpassed the valuation of oil revenue in the world, big data helps to provide a wealth of insights that help to simplify business processes as per future trends.

Opportunities and Challenges of Data-driven Trend Intelligence

Though data science plays a monumental role in allotting financial budgets for long-term business activities, its challenges include inaccurate information since real-time changes in trends affect machine learning (ML) algorithms. To overcome these challenges, business organizations are now analyzing broad sets of data with many inputs to find key insights in real-time. Continuous troubleshooting in ML algorithms is another strategy to gauge accurate market trends. Data science experts are pulling up dashboards to acquire key information from broad data sets.

Thus, data-driven trend intelligence is paving the roadmap for intelligence as a service model that enables C-level executives and managers to excel in organizational leadership & generate high return on investments (ROIs).

Technology Makeover: A Global Industry Outlook for 2022

A holistic approach at some of the biggest trends in technology

Since the COVID-19 pandemic has altered the way the global society functions, technological innovations are anticipated to grow in 2022. But are industries able to keep up with this shift in new technological trends? Let us look at four game-changing technological innovations that will help to increase bottom lines.

Opportunities for long-term business growth

As the world is witnessing a sea change where Facebook has renamed itself as Meta, early adopters of new technologies tend to gain a competitive edge over other market players. Advancements in machine learning, automation and robotics are helping to accelerate business processes.

Despite the influx of new technologies, stakeholders from various industries like healthcare, information technology and BFSI of developing economies are experiencing a technological gap due to the lack of resources. This indicates that tech giants hold untapped revenue opportunities in developing countries since mature and developed economies are nearing a saturation point, where innovation becomes a key differentiator.

Here are key insights about specific technologies that play a fundamental role in business success for 2022:

  • Cloud and the hybrid workforce: As increasing number of businesses demand transparency, flexibility and convenience, the hybrid workforce is taking new forms in both MNCs and SMEs. The adoption of Microsoft Teams has been a prominent trend in this space. Thus, increasing number of businesses are making sure that employees are enabled and empowered to have successful work-at-home and in-office productivity.
  • Sustainability acts as value addition: Businesses are going beyond suit and tie to bolster their credibility credentials. The pandemic has spurred additional interest in ESG (environmental, social, and governance) investing. This means, commitment to the ESG model translates into not just business stability, but also greater social equality and inclusion of communities.
  • Everything-as-a-Service (XaaS) helps in business leap: Seamless communication, security of IT systems and scalable business models to name a few are helping in greater adoption of XaaS to enhance operational efficiencies.
  • Resilient supply chains: Since the pandemic has exposed the vulnerabilities of most businesses, sourcing alternative supply partners is emerging as a winning strategy. Digitalization of processes is delivering cost efficiency in supply chain management.

Despite technological gap in most industries, investment in training of company executives, technicians and operators with job security holds promising potentials to overcome technology adoption challenges in 2022.