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THE DIGITAL SUPPLY CHAIN AND BUSINESS ANALYTICS by FRANCES STACKS

Business analytics, data based decision making, data solutions – it goes by many names but is the lifeblood of many businesses. It is nothing new and certainly not a new concept that more effectively running a business makes a more successful and profitable business. Since the very first company came about, utilizing the information at hand to provide inventory, knowledge of customer needs, wants, and desires; it has been integral in sustaining a business and making it grow. As stated by Robert Jacobs and Richard Chase what we must recognize now is, “…so much more data is now captured and available for decision-making analysis than was available in the past.” To be sure, the sheer volume of data that is now available to companies is astronomical due to ever-expanding technology, application of complex mathematical models, and ever advancing ability to extrapolate mountains of data and whittle it down to useful knowledge for businesses. Where data was once available after the fact, a “post-mortem” approach, if you will, companies can now utilize data for analysis, forecasting, optimization, revising of business processes, more efficient decision-making, and ultimately (and conversely most important) greater customer satisfaction.
Business analytics has moved from being a process of analyzing customer behavior after the fact to being a tool that can help predict customer behavior in the future. This is an invaluable tool in the business decision-making arsenal. Where once companies found themselves in a reactionary position as for example point-of-sale terminals linking to your grocery store card or an email address and providing you coupons to that store or a particular items based on your previous purchasing profile, the very real ability to anticipate customer actions and purchasing habits is

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