Quantzig, a leader in delivering scalable analytics solutions and data science services, today announced the completion of its recent article that sheds light on the growing importance of data mining in supply chain management.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201201005524/en/
Role of Data Mining in Supply Chain Management (Graphic: Business Wire)
Data mining techniques, including regression analysis, clustering analysis, outlier detection, and classification analysis, along with analytical tools, help analyze data from different perspectives and deliver real-time, meaningful insights that are immensely helpful in responding to many situations that impact supply chain operations. One of our retail clients, for instance, deployed an analytics stack that leveraged data mining soon after the outbreak of COVID-19 to analyze data and ensure business continuity with faster data-driven decisions.
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Key highlights of this report by Quantzig’s supply chain experts include-
- Challenges faced by supply chain managers in interpreting the technological and logistical implications of the vast reserve of raw data
- Insights on how businesses can use analytics and data mining to enhance supply chain management
- Details on how data mining facilitates the easy integration of various verticals within the supply chain
Speak to our experts to learn more about our supply chain solutions that leverage data mining techniques to enable faster data analysis.
According to the supply chain analytics experts at Quantzig, “Today, data mining has emerged as a vital tool that aids supply chain management as it enables seamless integration of complex networks like production, inventory, and warehousing.”
How Data Mining Can Enhance Supply Chain Management
The adoption of data mining is crucial to improve the decision-making process and build competitive supply chains, given the pace at which global supply chains are growing today. However, the challenge lies in interpreting the technological and logistical implications of the vast reserve of information. And as if this was not challenging enough, the integration of various business verticals in the supply chain is another major hurdle that supply chain managers have to overcome. Read the complete article (https://bit.ly/3kAlKjB) to gain detailed insights.
Today, quick turn-around time is crucial to gaining higher market share across industries. Hence, it is essential to make the right decisions at the right time. Data mining helps avoid the ‘bullwhip effect’ and facilitates the integration of various verticals in the supply chain.
Leveraging data mining can help businesses-
- Process mass information
- Select the right supply chain partners
- Identify loopholes in the supply chain
- Improve the structure of supply chains
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients worldwide with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal