Last month, Algo hosted its 2nd Digital Transformation Council Roundtable Discussion in Dubai. This event brought together leaders from well-known organizations. The main focus was to explore the challenges faced by business leaders when adopting new technologies and exploring concepts like push analytics to help inform better business decisions. The objective was to understand the journey that leaders are facing with supply chain modernization . Here’s what we learned from this gathering.
Challenges Leaders Have Faced When Adopting New Technologies
Data Utilization
Achieving success through data isn’t straightforward. Only 18% of leaders are leveraging data analytics to inform strategic decision-making. Our survey data shows that a substantial 36% grapple with deciphering the insights within the data itself.
Talent and Skills
In a world changed by data, finding skilled people is tough. Our data highlights that 54% of leaders have trouble finding the right talent for their digital projects. Surprisingly, only 27% of our respondents have a dedicated analytics team. The lack of such teams is a challenge for smart decision-making.
Insights and Tracking
Data insights are full of potential, but 27.3% of our group find it hard to use analytics to quantify opportunities. Even with new tech, 36% still use old ways like meetings and spreadsheets. The most interesting discovery is that 63% rely a lot on meetings to share important insights which can be tedious and time consuming. This dependency underscores the importance of effective communication channels, even in a world increasingly governed by algorithms.
The Solution is Advanced Analytics and AI
The path from data acquisition to informed decision-making is intricate and multifaceted, requiring a strategic interplay of skills, resources, and strategies.
Push Analytics
Imagine a world where information comes to you easily, based on your needs. This is what Push Analytics is, and it signals a smarter and more efficient way to manage data and information. You are no longer required to actively look for information. Instead, you have the freedom to get it as it becomes available and useful.
Push Analytics is more than just a way to send information. Its essential power comes from how it can be changed. Information isn’t given to you by force; it’s carefully tailored to your job. This makes sure that the flow of data is turned into a flood of useful insights. This unique touch helps you make smarter and more well-informed decisions.
Generative AI
Generative AI emerges as a transformative force, revolutionizing content creation, data interpretation, and trend identification. It has the ability to create impactful reports, making manual processes easier and freeing up valuable time for making important decisions.
Moreover, Generative AI is the best way to figure out what data means. It digs deep into complicated data, finds patterns, and comes up with ideas in a fraction of the time it would take a person to do the same thing. Its ability to spot trends and come up with new theories makes it a great tool for finding insights.
Concluding Thoughts
The event underscores Algo’s commitment to creating collaborative platforms for knowledge sharing, problem-solving, and innovation in our domain. As organizations walk the path to smarter, collaborative, and interconnected planning, the rise of Push Analytics and Generative AI is nothing short of revolutionary. These revolutionary tools equip decision-makers with a comprehensive toolkit, enabling them to navigate the intricate terrain of modern business with unparalleled assurance.
About the author
Algo
Combining human centered AI with deep domain expertise, Algo’s analytics enriched supply chain intelligence platform helps suppliers and retailers plan, collaborate, simulate and execute a more efficient supply chain.
