June 25, 2015
Have you ever purchased anything with a credit card or used your cell phone’s GPS for driving directions? Are you enrolled in a loyalty program at a grocery store or other business? Have you ever surfed the Web, made a post on a social media site or chosen a movie from the options Netflix thinks you might enjoy? In today’s technological age, you engage in activities producing data every day. Companies analyze the data, in part to ensure you – the customer – get the products and services you need in order to drive your repeat business.
Caterpillar uses data analytics to fuel the success of our customers, dealers, suppliers, shareholders, employees and the Enterprise. We do this by expanding our understanding of the business ecosystem.
Craig Brabec, Chief of Analytics for Caterpillar, explains, “By finding the relationships between seemingly unrelated factors through data analysis, we create data-driven insight into our business ecosystem. Combining this with the vast amount of experience-driven insight of our dealers and customers, we are finding ways to drive value in ways never before imagined.”
Imagine if through data analytics:
- A mining company had the tools and information to disturb the least amount of ground possible each time they drilled;
- Machine operators knew when and how to move for optimal performance of their body and the machine, causing the least wear or stress to either;
- Road construction crews had the exact machine they needed to build a road in the fastest and most efficient way, no matter where;
- Real-time information was available on the probability of a part failing due to the next machine operation, or one of the next 20 machine operations, with near 100% accuracy; and
- New and disruptive information-driven technology were to enable us to understand new energy sources or ways to make the current sources more sustainable.
Caterpillar and Cat dealers have been known for quality, durability and service for generations. But soon, both Caterpillar and our Cat dealers will be known as companies that innovate through data analytics – providing our customers with information that will altogether change the way they work.
Much like we couldn’t imagine receiving GPS directions or movie recommendations on a mobile device a decade ago, we may not even be able to imagine the possibilities data analytics could provide our customers tomorrow.