Author Archives: Lei Wang
The adoption of advanced analytics has moved at a much slower pace in Asia Pacific compared to Europe or North America. There are innovative firms that are setting the standard for innovation and successful analytics adoption, but as Actionable Intelligence expert Keith B. Carter explained in an interview with us last year, large businesses in the region are still lagging behind. In recent months, I‘ve been active in several events in the region and I’ve noticed a changing trend. Companies are increasingly eager to hear about optimization and advanced analytics. It’s not hard to see why. People are very intrigued by Prescriptive Analytics and Modeling, hearing success stories from counterparts in industries like energy and retail. Still, most businesses are worried about execution. Let’s take a closer look at their interests and concerns.
Areas of interest
There are several areas where companies are eager to apply optimization. These tend to be:
- Network design and planning: the process of evaluating complex trade-offs to deliver a network plan that maximizes profits and minimizes costs.
- Distribution center and coverage planning: a process to identify what the best location for your distribution centers is to ensure efficient and on-time deliveries across the chain.
- Stock allocation: the process of aligning supply and demand to move merchandise in a fast and agile way.
- Production planning: determining a production plan to serve different customers in an optimal way.
The need for advanced analytics in these areas is pressing, as large amounts of data are available, adding complexity to operations. However, there are some concerns hindering adoption.