There are many buzzwords in the supply chain and logistics industry today, and perhaps there’s none bigger than “Big Data.” Everybody talks about it, but what does Big Data really mean? When it comes to leveraging Big Data effectively in your organization, where do you begin? How do you apply it and what are the challenges and benefits?Those are some of the questions I discussed with Bob Daymon, Senior VP of Operations at Transplace, in a recent Talking Logistics episode.What is Big Data?Like many buzzwords, Big Data means different things to different people. So I began our conversation by asking Bob for his definition and I really liked his simple, to-the-point answer:
“Big Data is pulling information from multiple sources into a single view to see what story it will tell you. It can tell you what your problem is and often how to solve it.”
With supply chain being a very siloed endeavor, getting all the information in one place can be difficult, but it also can provide major benefits. The objective, Bob says, is to make better decisions faster.