Most CIOs (Chief Information Officer) are welcoming data analyst experts in their teams to boost the order and growth of the organisation. Here we give you a list of successful CIO who had expertly used the benefits of data analysis and machine learning for the development of the organisation.
We already have seen how tools of data analytics and Big Data can change the outlook of a company. The various machine learning algorithms can not only help in increasing revenue but also reducing costs. This super benefit to excel and outshine in the eyes of their superiors makes it a major look out of the CIOs.
Surveys report that there will be an increase of 12.4 percent in the revenue for Big Data and Data analytics from the last year, amounting to a total of $150.8 billion in 2017. Even tools for this data analysis like hardware’s and softwares are anticipated to cross $210 billion this year.
Success of MERCK at data analytics:
Merck is a massive pharmaceutical company located in America with an annual revenue more than $40 billion. The giant company has also sought the help of business analytics to use the data found in its core systems to gain more information on its business.
Michelle A’lessandro, CIO of Merck said that instead of viewing the data as a valuable property and storing it, the company wanted to initiate a culture where data was used for meaningful business results.
Mereck has successfully launched MANTIS (Manufacturing and Analytics Intelligence) – an advanced data storing system. The system includes in-memory databases and open source tools to process data stored in unstructured and structured systems. MANTIS has helped in not only reducing the time and cost of the company’s IT analytic projects by 45% but also more than 50% reduction in carrying costs.
Improvement in Dr. Pepper Snapple Group:
Dr. Pepper Snapple Group is a large American soft-drink company with an annual revenue more than $6 billion. For years, the company’s sales officers had relied on log books and binders to store information and notes on their clients. With the help of machine learning, they are now provided with IPads that help them and guide them in the best suited way.
Tom Farrah, CIO of Dr. Pepper Snapple Group, was delighted that their sales executive was becoming intelligent people who had every information and could achieve new heights for the company.
The platform the company uses is called MyDPS which holds the benefits of both machine learning and data analytics. It not only provides guidance but only each worker has a daily scorecard given to them by the application. It analyses their work and provides a “contextual relevance” to improve themselves. The system has already benefitted workers who reported a 50% increase in their selling tasks.
New Business Road for RRD:
RR Donnelley is a major communications company that provides digital marketing, commercial printing and logistic services. However, the best way to deliver the services to their customers was a major concern where conditions like weather, geography, political climate and drivers influenced the shipping procedure. To meet its demand, the company turned to machine learning and data analytics to predict the best shipping rates for the company.
Ken O’Brien, CIO of RRD, said that the business had hired experts in the fields, to analyse thousands of situations over 700 routes to ultimately predict the shipping rates 7 days in advance with more than 99 % precision.
Within a year, the company had seen their business assets and revenue jump from $4 billion to $16 million with heightened business outcomes. However, O’ Brien has acknowledged that these new ventures require more commitment to get long term results at the end.
New Ways at Bechtel:
The biggest and largest civil engineering and construction company of US, Bechtel holds an annual revenue of $32 billion. According to Carol Zierhoffer, CIO of Bechtel, the company has seen only 1% overall efficiency gain in the last 20 years.
Like other organisations, the company also leaned in to data analytics to uncover the hidden knowledge in the incoming data for various sub-parts of the business. With guidance from experts, it built a data excellence centre. This centre system used photo recognition technology to examine and tag photos of sites on behalf of customers. This has not only saved money of around $2 million but also lots of time. Processes which took days to be finalised now are performed in hours.
It seems that though data is useful, it must be improved with time to get sustained results. Zierhoffer claimed that the system had to slightly damage them to get better results.
Growth of Monsanto:
Monsanto is an American multinational company which deals with agriculture, farming and biotechnology. The company uses data science to prescribe the best farming methods, what to farm and even the quality and quantity of seeds to use. With the help of machine learning algorithms, the company has helped in yielding better products, increasing the earnings and reduce land use.
In 2016, the company reported to save $6 million in its revenue and reduce land usage by 4 percent. Adrian Cartier, director of global IT analytics at Monsanto, said that with expertise in agriculture field and the benefit of machine learning using maths and statistics, they were able to deliver healthy outcomes.
Success at Pitt Ohio:
Pitt Ohio is a supply chain company which provides truckload, delivery solutions and ground services in the Mid-US. With increase in electronic commerce sites, the company has reported to increased services of the shipping industry.
Scott Sullivan, CIO of Pitt Ohio, said that the company had to now deliver packages within a day due to the ‘Amazon Impact’ system in practise. He claims that customers only bother on the pickup and delivery dates along with tracking their package.
To meet the demands of the customers, the company has put in use predictive data analytics and machine learning algorithms which helps in rope the various advertise in the shipping industry and finally calculate the time a driver can deliver an item with 99% accuracy. The company now reports an increase in revenue by more $50,000 annually with an equal amount reduction of the risk of losing customers.