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Improving Internal Operations

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Every business process and every aspect of business operations can be streamlined and enhanced, thanks to big data. Optimizing pricing, accurately forecasting demand, reducing employee turnover, boosting productivity, strengthening the supply chain – across all areas of the business, it’s easier than ever to make improvements, generate efficiencies, save money, automate processes, and more.

Remember the Otto example of predicting demand in order to improve stock ordering? Thanks to data (and more than a bit of AI, see Trend 1), this impressive process happens automatically. The company’s system orders around 200,000 products a month without human intervention.

In another example, Bank of America worked with Humanyze (formerly Sociometric Solutions) to implement smart employee name badges, fitted with sensors that can detect social dynamics in the workplace. From the data generated, the bank noticed that top-performing employees at call centers were those who took breaks together. As a result, it instituted new group break policies and performance improved 23%.7 You can find more examples of enhanced and automated business processes in Trend 13 (robots and cobots).

Tech Trends in Practice

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