![]() The data utilisation management model used to generate synergy can be divided into four processes, from data collection to management decision-making. Structure of the data utilisation management model For example, you can improve the accuracy of demand forecasts by using AI analysis in combination with external information, such as weather information. In manufacturing, data utilisation can help to improve reorganisation and hiring criteria, and can make it possible to examine new services and business development by utilising data for the formulation and re-examination of manufacturing department production plans.ĭata utilisation can improve cost management through more advanced supply-chain analysis based on the centralised management of manufacturing divisions’ IoT data and of sales- and customer-related data. their ‘lifetime value’) and lowers contract cancellation rates. Specifically, it enhances the benefits that customers bring to the company (i.e. Such forecasts accelerate management decision-making pertaining to matters such as the reallocation of management resources to individual businesses.ĭata utilisation promotes greater sophistication and precision in business management by enhancing demand forecasts through the use of third-party data in the unified management and analysis of customer data. Moreover, because data utilisation can also contribute significantly to higher business value, we can expect to see more and more examples of effective data utilisation not only among companies seeking new growth drivers and management sophistication but also by companies looking to engage in business revitalisation, M&A and business restructuring.Įxamples of improving management and operations through data utilisationĭata utilisation enables highly precise forecasts of corporate finances (such as in quarterly results and investment returns for individual businesses) by enabling a dynamic understanding of not only conventional management indicators but also the leading indicators that drive them. Therefore, this also represents a major threat to companies that do not utilise data. The inter-company and inter-business synergy that a company generates through data utilisation enhances the speed and quality of management decisions, bringing the company an overwhelming competitive advantage. This difference is a key point in digital transformation (DX) strategy, and provides a means of transforming to new business models. The introduction of data utilisation technologies differs greatly from that of conventional IT systems because the emphasis is on the value of the data itself. ![]() In this highly unpredictable age of VUCA (volatility, uncertainty, complexity and ambiguity), it is becoming more important and valuable than ever to be able to create inter-company and inter-business synergy by using new technologies for data utilisation. Send us feedback about these examples.New trends in data and technology utilisation These examples are programmatically compiled from various online sources to illustrate current usage of the word 'synergy.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. ![]() Amber Smith, Discover Magazine, 29 Aug. 2023 The entourage effect, where these two compounds work in synergy, offers a range of benefits that can help improve various aspects of your life. ![]() 2023 Inspired by the movement of water, finding synergy with the flowing fabrics of the collection, hairstylist Garren imagined undulating waves with first R+Co Bleu’s Rose Water Wave Spray, then a small iron to long tresses, or ’20s-esque finger waves held into place with pins until showtime. Ordyn Holman and Elizabeth Paton,, 10 Aug. 2023 Executives emphasized that pooling resources would allow their brands to share digital and marketing capabilities, transportation, and supply chains, which are often referred to as synergies. Amber Smith, Discover Magazine, 27 Aug. 2023 Exploring the potential synergies between delta 8 THC and other cannabinoids is an exciting endeavor. 2023 Seaport’s Joyce believes TKO’s management will hit or exceed targets on revenue and cost synergies. 2023 As with the most fruitful of partnerships, there was a clear synergy of values and vibe. 2023 Or just a clever bit of synergy cooked up by savvy marketers? - Michael Ordoña, Los Angeles Times, 1 Oct. Recent Examples on the Web But even if Beijing provides minimal outside support, any cooperation between Russia and axis countries will lead to high levels of synergy.
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