Data Alone is Nothing, Decisions Driven by Data is Everything

Data alone does not make you profitable; decisions driven by data make you profitable. As the world speeds up, says Rob van Egmond, it is critical that decision-making does too.

Your company’s ability to make smart decisions fast gives you a competitive edge that will position you at the forefront of your industry ― and keep you there. Analytics is the enabler of doing great business and performing at your true optimum in this digital age. Here are some highlights of Rob’s keynote address at Quintiq World Tour.

Data is a collection mechanism for information that converts into knowledge to act as decision support. Every decision that you make at each stage in your supply chain determines whether you are efficient or inefficient, profitable or unprofitable. It is not data that makes you profitable; it is the decisions you make using data that make you profitable.

As you progress along the data value spectrum, the timeline for decision-making becomes shorter and shorter as things move faster and faster. In the longer term, whether or not you lead the pack is not determined by where you start, but by how fast you are going. It is critical to remember that as the world speeds up, decisions need to be made even faster.

Delivered right here, right now Stories about Amazon Prime using drones for sameday delivery have been circulating for a while now. Consumers are becoming more demanding and more time-sensitive. Everything needs to be delivered right here, right now.