Companies: make data talk! – EconomyMorning


For almost a year now, every week, we have been waiting for the verdict of the figures relating to the spread of Covid-19 to know what will be our daily life. More than ever, statistics govern our lives, our daily lives, become the exclusive compass of power … What is true on a world scale in this particular context of health crisis is also true within companies. Data, if correctly analyzed & interpreted, is a real gold mine to inform our decisions. Listen up, they have so much to tell us …

The omnipresence of data

How to anticipate the unforeseeable? how to govern when history offers no reliable benchmark? what levers to activate to appease the population in times of pandemic, preserve essential infrastructures (those of health above all), how to prioritize, which must be sacrificed, and in what duration for what expected benefit?

How to deal with this inherently inextricable situation? By relying on the advice of Experts, themselves governed by the analysis of Data that illuminate possible Scenarios! The scientists who advise governments in their decision-making are certainly based on medical data. The Covid-19 crisis must be considered as an analytical and statistical scenario of deployment, propagation and physical dispersion of the virus. This pandemic phenomenon is mathematical. To master it, we must succeed in impacting the statistical curves, and this, in record time because we are witnessing an unprecedented concentration of time. In a world where uncertainty has become the norm, there is no choice but to rely on analysis of data from the past, in order to predict a future situation and make decisions to bring life to life. scenario envisaged. Data is in power …

Company data: a formidable tool for reactivity and anticipation

What scientists and governments do at country level, purchasing departments also do at company level. The horizon has shrunk considerably: from years to quarters, from quarters to months, and even from month to week. While it was previously possible to pilot a project and initiate long-term investments, today’s reality requires shifting budgets and permanent strategic readjustments. It is no longer possible to be predictive, it is now a question of being reactive. And it’s the data companies have that allow them to do that. They are there to help decision-makers make the best decisions on the basis of situations detected in the short term. Take the example of a company that works with many suppliers, themselves working with other suppliers, and so on. Without a detailed analysis of its data combined with that of its partners, it would not be possible for it to detect that a tier 3 supplier is in bad shape and will not be able to supply the tier 2 supplier on time. . The domino effect of a stockout can be dramatic. The data is thus used to better control the level of dependence of a company in terms of supply.

Navigating through the mass of data

Relying on data to accurately manage your strategy is therefore a good idea in absolute terms. But how to analyze the billions of data that come from thousands of sources (linked among others to IoT, Internet, Platforms)? How do you identify which ones are relevant in a specific situation? How to preserve the anonymity of the individuals concerned and ensure responsible use of the information collected? This is where artificial intelligence comes in, which sheds light on this data fog, and the regulatory framework on data protection (GDPR – European text that regulates the processing of data in an equal manner) effective since May 25, 2018. . Management tools based on machine learning are able to spot important information in the mass and anticipate future issues on a supply chain, often managed “just in time”. The tool identifies for example the difficulties of a supplier and informs the company in time so that it can react and place an additional order with another supplier. Management solutions today have integration routines that can qualify data with very precise business rules. This guarantees the quality and veracity of the final data. The data is standardized, and becomes intelligible to all. Because it goes without saying that a financial director will not necessarily need the same information as a logistician or a legal director. And yet, they all rely on the same data.

Let’s stay open!

As has been said, decision-making is more complex and sophisticated today than it was yesterday. They require increasingly powerful tools capable of processing the exponential volume of data available. At the same time, let us highlight the growth of co-innovation situations. It is indeed increasingly rare for a company to be able to launch a disruptive product on its own on its own. Today, organizations pool their talents, resources and skills. This also implies being able to share their data, hence the importance of relying on open information ecosystems and high-performance IT collaboration solutions capable of qualifying the plural resources of the various stakeholders to make them homogeneous. . Once again, it is artificial intelligence at the service of adapted management tools that allows this.

In an increasingly complex and interconnected world, where the quality of forecasts declines as uncertainty increases, data brings simplicity and clarity to decision makers. If we manage to seize it, data becomes a major competitive advantage. While many people are considering innovation today, data is being consolidated into open ecosystems. A convincing current example? The Pfizer-BioNTech association, which is based on responsive and successful co-innovation.

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