What is data analysis?
A data analysis uses statistical methods to derive useful information from collected data to aid in decision making. There are several methods for data analysis e.g.:
- Data Mining
- Text analysis
- Business Intelligence
- Data visualization
In the course of advancing digitization, companies are facing a major challenge: Huge volumes 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 using digital data analysis technology to examine and scrutinize their business processes. This can increase efficiency and reduce risks.
What are the essential steps of a data analysis?
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In logistics, data analysis of internal and external data is becoming increasingly important in making the supply chain more transparent. Logistics service providers in particular benefit from rapid real-time analysis to keep their processes dynamic. In addition, data analyses are highly valued in route and cargo space optimization, because shorter and more efficient routes and, at the same time, higher capacity utilization can significantly reduce transport costs. Intelligent data analyses are also increasingly being used in intralogistics as a tool to ensure optimal warehouse management. This is because forecasts about process flows in a warehouse are becoming increasingly complex. With innovative reporting tools, the infinite data volumes of a warehouse can be analyzed and used for efficient monitoring and optimization.