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In a 2021 white paper titled “Data Excellence: Transforming manufacturing and supply systems“ written by the World Economic Forum and the Boston Consulting Group, it documented that 75% of executives interviewed believed that advanced analytics in manufacturing was more important today than three years ago. RiskManagement.
The supply chain havoc caused by the coronavirus pandemic has left an indelible mark on the minds (and businesses) of manufacturers, wholesalers, dealers and retailers. And it has quite some catching up to do – the smart manufacturing industry is set to grow from $250 billion in 2021 to $658 billion in 2029.
There is a wealth of data now available to make this possible. For example, the types of data sourced from other industries that we can use in the underwriting process include: Manufacturing – sensors (for quality, safety and maintenance-related). Another example is fleet management.
As such banking, finance, insurance and media are good examples of information-based industries compared to manufacturing, retail, and so on. How do you think Technology Business Management plays into this strategy? What are you seeing as the differences between a Chief Analytics Officer and the Chief Data Officer? Governance.
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