Fast Data: Real-Time Analysis Makes For Rapid Response - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Fast Data: Real-Time Analysis Makes For Rapid Response

Why the push to become a real-time business? For most companies, the motivation has to do with better execution.

According to InformationWeek Research's Real-Time Business 2003 survey, the most-cited reasons companies hasten information distribution are, in order: business agility, lower costs, improved visibility into key performance metrics, and customer service. Just over half mention supply-chain efficiency.

Schneider National Inc., a transportation and logistics company, has several projects to speed the business of transportation by driving data faster. It's adding real-time financial-analysis capabilities to its Collaborative Visibility Network, a hosted service used by auto manufacturers, suppliers, and trucking companies to track service parts through the supply chain. The system lets them track inventories, ship dates, volume, and arrival times. "We think another step forward is when you associate the freight cost to the movement," says CIO Steve Matheys. For instance, the exact cost to ship a brake assembly from Detroit to Denver will be known when an order is accepted, and any subsequent changes can be reflected immediately in the system. "That's going to start establishing a different dynamic in the supply chain," Matheys says. Schneider also is developing what Matheys calls a real-time dynamic planning engine to optimize how it moves goods -- whether via a one-way truck, its dedicated truck fleet, a third-party trucking company, or train.

Better monetary controls are an imperative at many companies, with 76% of the 261 survey respondents saying finance and accounting departments would benefit from faster access to information. Visa International is considering business-intelligence software from Oracle as a way of giving analytical tools to the institutions that issue its cards. "We're looking at self-service tools so they can access any data they need immediately and drill down and do their own research," says Gretchen McCoy, Visa's senior VP of global business solutions.

7-Eleven Inc. is deploying a supplier portal and E-procurement app, also from Oracle, to bring more automation to its supply chain. The people who order everything from snack foods to Big Gulps will have data at their fingertips. "They're going to see suppliers and orders on the fly, negotiations, contracts, RFPs, all as they happen," CIO Keith Morrow says. Kind of gives new meaning to the term convenience store.

Return to main story, Get It To Them Fast

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
News
Think Like a Chief Innovation Officer and Get Work Done
Joao-Pierre S. Ruth, Senior Writer,  10/13/2020
Slideshows
10 Trends Accelerating Edge Computing
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/8/2020
News
Northwestern Mutual CIO: Riding Out the Pandemic
Jessica Davis, Senior Editor, Enterprise Apps,  10/7/2020
Register for InformationWeek Newsletters
Video
Current Issue
[Special Report] Edge Computing: An IT Platform for the New Enterprise
Edge computing is poised to make a major splash within the next generation of corporate IT architectures. Here's what you need to know!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll