What is data analysis?
Data analysis uses statistical methods to derive useful information from collected data that helps in decision-making. There are several methods for analyzing data, e.g:
- Data mining
- Text analysis
- Business Intelligence
- Data visualization
As digitalization progresses, companies are facing a major challenge: huge amounts of data, constant data growth, multidimensional IT systems and increasing data complexity often prevent a quick and comprehensive insight into the underlying relationships. For this reason, companies cannot avoid scrutinizing and questioning their business processes with the help of digital data analysis technology. This can increase efficiency and reduce risks.
What are the essential steps of a data analysis?
- Read in
- Explore
- Modify
- Validate
- Reviews
- Summarize
In logistics, data analyses of internal and external data are becoming increasingly important as they make the supply chain more transparent. Logistics service providers in particular benefit from rapid real-time analysis in order to keep their processes dynamic. Data analysis also plays an important role in route and loading space optimization, as shorter and more efficient routes combined with higher capacity utilization can significantly reduce transport costs. Smart data analysis is also increasingly being used as a tool in intralogistics to ensure optimum warehouse management. This is because forecasts of process sequences in a warehouse are becoming increasingly complex. Innovative reporting tools can be used to analyze the endless amounts of data in a warehouse and use it for efficient monitoring and optimization.
