Logistics companies are striving to make more data-driven decisions to move forward.
FREMONT, CA: The impact of big data analytics in leading industries worldwide is quite evident. The impacts of leveraging big data are nothing but positive and profitable for several industries. Recent statistics say the worldwide market of big data and business was valued at around US$168.8 billion in 2018. Moreover, it is forecasted that this value will increase to US$274.3 billion by 2022. As for several other sectors, data gathering and data management are becoming bigger, and professionals may require help. Here is how big data impacts logistics.
• Quick Last Mile Shipping
The last mile of a supply chain is inefficient, costing up to 28 percent of a package's overall delivery cost. Several obstacles lead to this. It can be challenging for delivery trucks to park near their destination. Drivers have to park quite a while away and then walk the package to its final destination. Then, they may have to go up several flights of stairs or wait for an elevator in a high-rise building. Big data aims to address these hurdles. Internet of Things sensors and scanners can see how the delivery goes from start to end - even during the last mile.
• Transparent Reliability
As sensors become prevalent in vehicles, shipping, and throughout the supply chain, they can offer data allowing greater transparency than previously. This transparency is valuable to shippers, carriers, and consumers. If a shipment is being late, carriers need to know as soon as possible to prevent bottlenecks. And carrier firms can use this data in the aggregate to negotiate with shippers by showing how often they deliver on time.
• Optimized Routes
In the 3PL survey cited at the starting of this post, 70 percent of respondents stated that enhancing logistics optimization was the best use of big data logistics. Optimization is on every company's mind. Big data and predictive analytics offer logistics firms the extra edge they require to overcome these hurdles. Sensors on delivery trucks, weather data, road maintenance data, fleet maintenance schedules, and personnel schedules can all be integrated into a system that gives advice accordingly.