We wrote recently on the benefits of Business Intelligence (BI) in the travel industry, but the flexibility and insights BI offers can be extended to any enterprise, and the transport and logistics market is just one of those poised to profit from the application of BI, both now and in the future. The complex, interconnected and crucially time-sensitive nature of logistics services makes the sector a prime candidate for the efficiencies a BI implementation offers.
BI enables companies to make informed decisions in real-time, providing detailed, useful information where once hours or even days of data mining and analysis were necessary. By allowing organisations to react as events happen, BI goes far beyond traditional business reporting, driving both time and cost savings as problems or inefficiencies are highlighted early rather than being revealed weeks later in a monthly report.
Many logistics companies now making use of BI do so via the implementation of dashboards, such as those provided by QlikView. These dashboards give business managers and decision makers access to actionable overviews and details by collating data from across the organisation into intuitive, visual representations. BI makes dealing with big data easy; the rich, reactive flow of information allows elements throughout the business to be refocused, adjusted and optimised quickly, resulting in greater supply chain efficiencies, reduced costs, better customer service and overall operational effectiveness.
Implementation of a modern BI solution also provides benefits in terms of greater data security and integration with one of the key sources of modern big data: social media. Data analytics in the past has typically been centred around complicated and unwieldy use of spreadsheets, into which such information was almost impossible to integrate, but a modern BI solution can make customer interaction and monitoring as quantifiable as any other aspect of the business.
By providing a unified approach to data analysis that has thus far been difficult if not almost impossible to attain, BI solutions enable transparency and visibility along the entire supply chain from acquisition to delivery. Integrating multiple streams of data into one easily navigable representation, BI allows organisations to spot issues and improve profit margins with a full view of how different aspects of the business interact with each other.
For transport and logistics companies, BI is the future. As a sector with more to gain from the technology than most, the potential for efficiency improvements and market advantage is huge, with BI implementation likely to be a decisive factor in competitive success for many organisations.
To find out more about how a BI solution can benefit your company, contact Trustmarque on 0845 2101 500 and talk to one of our experts to find out more.