If it is possible to network complex structures, advanced analytics is not only a crucial building block in the digitization strategy of any company, but also a lucrative investment.
There is general agreement that the future is digital – and also that the opportunities are currently far from being fully exploited. Companies are initiating large-scale digital transformation projects and are looking into new technologies. But many projects fail because of “organizational readiness. After all, the prerequisites for successful digitization must first be created.
In our cover story, we explore the question of what’s important in the process. Are you ready for the future?
In procurement, advanced analytics is one of the most effective methods for quickly creating a sense of achievement with the help of digitization – we show you how you can use it to achieve significant efficiency gains. Digitization is a topic that cuts across all areas of procurement. This is documented by the results of our current studies on strategic raw materials procurement and working capital management, the results of which we present to you in this issue. Scandinavia is already much further ahead in terms of digitization – for example, Denmark took first place in the DESI (Digital Exonomy and Society Index) in 2019. Morten Bøgh Skaarup, our new Managing Director at the Copenhagen office, reports on what else is driving business in our northern neighbor.
Enjoy reading and good luck on your way into the future!
Use advanced analytics profitably
For companies to seize the opportunities offered by advanced analytics, it is crucial that they lay the foundations now. Those who succeed in bringing together functional and technical expertise create the ideal conditions for constantly improving their company. Once employees are empowered, they will also find it easier to identify relevant data and analyze it profitably. The dividend on the original investment grows exponentially over time.
The positive effects of advanced analytics become apparent shortly after implementing the corresponding tools and result in the transformation making their daily work easier.