Supply Chains in Advanced Markets Should Become More Agile, Says Atradius

Atradius, a consultancy specializing in trade credit insurance, surety and debt collections, maintains that the global economy has continued to gain momentum over the past months, with a 3.1% expansion projected for this year.

Higher inflation, falling unemployment, and strengthening Purchasing Manager Indices (PMIs) all suggest higher GDP growth in advanced markets.

Atradius analysts observe that the U.S. economy leads this trend while the recovery in the eurozone becomes increasingly entrenched. The outlook for emerging markets is also brighter, as Brazil and Russia are emerging from recession, and access to finance remains favorable. While the global economic outlook is more robust than in previous years, political uncertainty remains a downside risk to stability.

However, the main challenges to the global outlook – the threat of deflation, negative bond yields, austerity, and low commodity prices – are slowly phasing out.

Global trade is supporting this recovery. After a 1.3% expansion in 2016, trade growth (12-month rolling average, y-o-y) has picked up to 3.3% as of July 2017. The stronger-than-expected expansion is being driven by intra-regional trade flows in Asia and strong import demand from North America.

Despite political uncertainty, most high-frequency indicators point to sustained growth: the global composite PMI posted held steady at 54 in September, pointing to a solid and stable rate of expansion. This has motivated some dramatic upward revisions of trade growth forecasts in 2017. The WTO raised its 2017 forecast for merchandise trade growth to 3.6% from 2.4%.

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Supply Chain & Big Data ÷ Analytics = Innovation

Google the term “advanced analytics” and you get back nearly 23 million results in less than a second.

Clearly, the use of advanced analytics is one of the hottest topics in the business press these days and is certainly top of mind among supply chain managers.

Yet, not everyone is in agreement as to just what the term means or how to deploy advanced analytics to maximum advantage.

At HP, the Strategic Planning and Modeling team has been utilizing advanced operational analytics for some 30 years to solve business problems requiring innovative approaches.

Over that time, the team has developed significant supply chain innovations such as postponement and award winning approaches to product design and product portfolio management.

Based on conversations we have with colleagues, business partners and customers at HP, three questions come up regularly – all of which this article will seek to address.

  1. What is the difference between advanced and commodity analytics?
  2. How do I drive innovation with advanced analytics?
  3. How do I set up an advanced analytics team and get started using it in my supply chain?

Advanced analytics vs. commodity analytics

So, what exactly is the difference between advanced analytics and commodity analytics? According to Bill Franks, author of “Taming The Big Data Tidal Wave,” the aim of commodity analytics is “to improve over where you’d end up without any model at all, a commodity modeling process stops when something good enough is found.”

Another definition of commodity analytics is “that which can be done with commonly available tools without any specialized knowledge of data analytics.”

The vast majority of what is being done in Excel spreadsheets throughout the analytics realm is commodity analytics.

Read more at Supply Chain & Big Data ÷ Analytics = Innovation

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Revolution Analytics named a Visionary in the Gartner Magic Quadrant for Advanced Analytics Platforms

Revolution Analytics named a Visionary in the Gartner Magic Quadrant for Advanced Analytics Platforms

The entire team at Revolution Analytics is very proud to announce that Gartner has named Revolution Analytics a Visionary in the inaugural Gartner Magic Quadrant for Advanced Analytics Platforms, published February 19, 2014. The report evaluated 16 vendors through a series of stringent criteria related to the ability to execute and completeness of vision.

Revolution Analytics is positioned the furthest for Completeness of Vision and Ability to Execute in the Visionaries Quadrant. We believe this is a validation of the leading-edge innovations of the open-source R community, and that of our own Revolution R Enterprise development team who continues to complement R with scalability, performance, and enterprise readiness. Here’s what CEO Dave Rich has to say:

“It’s such a pivotal moment for data scientists and the growing open-source R community that Gartner has embarked on its first ever Magic Quadrant for Advanced Analytics Platforms. Gartner estimates advanced analytics to be a $2 billion market that spans a broad array of industries globally, and ‘Gartner predicts business intelligence and analytics will remain top focus for CIOs Through 2017.’ We believe that this new Magic Quadrant puts a spotlight on big data as the great analytics disruptor and we feel highlights the need for solutions like Revolution Analytics’ that are built upon a flexible, open platform, and designed for today’s Big Data Big Analytics challenges.” — Dave Rich, CEO, Revolution Analytics

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