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Using More Analytics Can Help Industrial Manufacturers
High-performance businesses -- those that substantially outperform competitors over the long-term and across economic cycles -- are five times more likely to use analytics strategically compared to their peers.
Analytics without question can help industrial manufacturers gain a competitive edge. But, given the prolonged economic slowdown, some companies may not be using analytics enough to help sustain high performance through this tough time. Operations, the heart of industrial goods and services production, is particularly vulnerable during recessionary periods because of volatility in demand. If ever there was a time when companies need to increase development of their analytical capability to understand how best to predict and manage the operational inefficiencies and high costs associated with fluctuating demand, it is now.
Strong Analytical Capability is a Must Today
The enduring troubled economy, increasingly, is making the need for effective analytics more crucial to the success of today's companies. Industrial manufacturers that can harness its full power, not only will have an opportunity to experience better business outcomes and high performance in the current economic environment, but will be able to position themselves to sustain high performance in the next economic cycle.
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