Technology -> Data Management
Released: 7th February 2013
Henley-in-Arden, UK, 07 February 2013 – Enhanced decision making and cost reduction represent the main drivers of predictive analytics and process simulation in 2013 according to businesses polled as part of research released today by Lanner.
According to the research, which was conducted among manufacturers across a range of industries, 72% point to optimised processes as the main reason for using the technology. Cost savings were cited by 52% and tackling complexity was identified by 49% as a driver for deploying predictive simulation capabilities.
When looking at the benefits of the technology, 59% identified that simulation had helped the business to remain competitive by cutting costs, while 52% reported an increased confidence in decision making. This confidence is critical as 72% identified they used simulation to explore potential decision options whilst 48% use it as a guidance for future expectations.
David Jones, CEO, Lanner said: “Previously we have seen the pressure of time and the need to innovate driving a great deal of simulation. It now seems that this has been overtaken by the more immediate and short term needs of better processes that can strip out costs from a business. “Though these two are not mutually exclusive they do suggest businesses are looking to more advanced analytical solutions like predictive simulation to explore process innovation with an eye to cost reduction - that is, doing things better and most cost effectively. In our customer base we see many examples of this, from a wide range of industries.”
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Published by: electronicdawn Ltd.