The age of intelligence is here. According to IDC, the worldwide revenues for big data and business analytics will grow from $130.1 billion in 2016 to more than $203 billion in 2020. Today there is an immense opportunity for enterprises to differentiate themselves from the competition by leveraging big data and advanced analytics solutions. If you’re already capturing or plan to capture IoT data, you can mine your data for unprecedented insights that may change the way you do business.
A recent McKinsey research study found that companies that use analytics extensively are twice as likely to outperform the competition in terms of sales, profit, growth and ROI. Our customers are already using advanced analytics and big data solutions to better serve their customers and outperform competitors. The top three benefits emerging across multiple industries and use cases, as well as a glimpse into how our customers are accelerating their digital transformation, are explained below.
- Optimize manufacturing with real-time analytics
Manufacturers large and small have transformed by capturing and analyzing live streaming data from production lines. Hershey Company uses big data and advanced analytics services on Azure to optimize licorice production using intelligent sensors on factory line extruders. This “internet of licorice” allows Hershey to dynamically manage production. Deschutes Brewery, an American craft brewery, uses big data and advanced analytics services to drive operational efficiency and saves an average of 48 hours for every batch of beer it brews. Deschutes achieved this by optimizing its production process through real- time data analytics, saving millions of dollars in expansion costs.
- Make decisions fast with accessible data insights
Modern banks thrive on data, but accessible insights from this data are the true differentiator. Heartland Bank, a leading New Zealand bank, wanted a new analytics platform that would give its business users direct access to customer credit insights and performance KPIs. Its legacy analytics systems were only accessible to IT, and hence delayed decision-making. Using SQL Server R Services, Hartland built a new, open platform that’s not just accessible for business users, it’s also faster than anything it used before. “We are using R Server to build a data-first culture at the bank by ensuring that executives have the numbers to back up their instincts,” says Chris Murray, head of Enterprise Data at Heartland Bank.
- Cut costs with intelligent demand forecasting
Gaining value from historical data to better predict future needs can increase efficiency and save costs. Carnival Maritime churned an ocean of data to improve demand forecasting. Keeping track of the consumption of water onboard a cruise ship is a complex equation. Carnival used Cortana Intelligence Suite to better predict how much water a ship will need for a specific route, saving each ship more than $200,000.
What to learn more? Join Microsoft for Data Amp, an online event, Wednesday, April 19, 2017, at 8 AM Pacific time. Scott Guthrie, executive vice president, Microsoft Cloud + Enterprise, and Joseph Sirosh, corporate vice president, Microsoft Data Group, will demonstrate what’s possible and provide insights into how your industry is driving innovation in data, intelligence and analytics, and achieving digital transformation.