Big Data is set to revolutionize Integrated Business Planning (WSJ blog)

Big Data is set to revolutionize Integrated Business Planning, a core element in business operations that extends the process of balancing supply and demand to all aspects of the supply chain, financial processes and strategic planning. This holistic approach to planning benefits from technology such as sensors and new analytic frameworks that promise businesses better flexibility, more accurate forecasting and faster response times. From an earlier focus on real-time data, many businesses are discovering that the winds are now shifting towards generating actionable insights, both at an operational/tactical level as well as strategic level. There is an increasing realization that the mark of an optimized supply chain–i.e. delivering the right amount of product to meet market demand while minimizing production, inventory and transportation costs–is a smoothly functioning, comprehensive IBP.

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