Big data can help you chip away at costs according to WSJ article

Submitted on: Tue, 07.01.2014 07:21pm - Annie Eissler |

 

In a Wall Street Journal article today, Senior Editor Vipal Monga offers numerous examples of how "CFOs in companies large and small are marshaling the billions of bits of data available to them so they can better forecast sales, manage capital spending and increase cash flow."

For example:

  • Using profitability, cost and sales projection data, General Motors made the decision to discontinue Chevrolet in Europe in days vs weeks
  • Planet Fitness used treadmill usage and traffic pattern data to reduce capital spending on wear and tear
  • AT&T freed up cash flow by a third after reconciling various data sources from the 12 companies that now make up AT&T

But making sense of big data isn't always easy. Reconciling various data sources and definitions, looking at relationships between various data sets, finding the really useful bits of information in a sea of data, these are the challenges companies face that we here at MITS love to think about every day.

We'd love to hear what you think. What kinds of success have you had in your distribution business chipping away at costs with better, more accessible data?