"We’re going to have 2+ billion more people by 2050, and that’s certainly going to drive everything from commodities to infrastructure demands. Our customers will have to build roads, mine for raw materials, generate energy — and everything in between. When it comes to data, our products will speak to us, and the value comes when we make that data work for our customers. Big data, in real-time, will be huge. The digital evolution will bring our supply chain, dealers, and customers closer together than ever before.... Caterpillar sees a great opportunity, and we must be ready."
- Dave Bozeman, SVP, leading manufacturing and supply chain capabilities, Caterpillar
Analytics give decision makers insights and allow them to make real-time decisions and predictions on:
Equipment health. Supply chain leaders can better see equipment condition and forecast maintenance.
Productivity. Decision makers can track performance, supplies, transaction times, outcomes, and costs. Data on what was done to get certain results can drive decisions on improving quality, access, and affordability for customers. Leaders can even use data to create simulations of possible options, helping to better understand the impact of decisions.
Future sales. Buslness leaders are better able to predict future sales but in minutes and seconds instead of weeks and months. The result: better response to demand changes by being ready with inventory. "[It's about] delivering what our customers want, when they want it, every time," said Bozeman. That response includes price and a full understanding of customer expectations.
Ultimately, better data means a better picture of the wholechain, not just individual links. With a view of the entire supply chain, leaders can increase capacity and customer response and decrease costs.