Industry 4.0 has put additional competitive pressure on incumbent companies, and at the same time has created new opportunities for the ones that are able to leverage on a more digital and interconnected world. Understanding how companies can take full advantage from this changing environment implies assessing which key conditions may influence competitive strength and accelerate growth. In the current paper, we examine the case of a traditional German engineering company that faced with the downturn of the automotive production, looked for ways to diversify their customer base away from the automotive. Given that is more expensive to acquire new customers than to retaining existing ones, the company focused its sales efforts on expanding business with existing customers from the general industry. In line with this goal, the company followed a four step approach:
Harnessed by the power of advanced analytics, the company was able to develop actionable business intelligence, which ultimately aided the company’s operations.
The relevance of this session for professionals is threefold. First, it provides insights and recommendations on how to harness on data-driven business intelligence to remain competitive in the digital age. Second, it presents a concrete real life example of a data-driven decision making process that shaped a company’s operations. Last, but not least, it highlights how to leverage on acquired information and disseminate it to support a company’s operations.
Dr. Anabela Reis works at EDAG Production Solutions GmbH & Co since September 2018 as a data scientist, where she is responsible for setting up data-driven decision-making processes and deliver actionable insights for business leaders across industries. She holds a PhD in Engineering and Public Policy from Instituto Superior Técnico (Portugal), in which explored pathways towards the creation, development, and accumulation of technological capacity in aeronautics. During her PhD studies, she was a visiting researcher at Instituto Tecnológico de Aeronáutica (Brazil), and at the Massachusetts Institute of Technology (USA). She earned a
Masters in Aerospace Engineering from IST in 2012. She did a summer course in Further Statistics for Economics and Econometrics at the London School of Economics and Political Science (UK) in 2012. She also worked as a researcher at the Statistics and Prospective Unit of Instituto Superior Técnico, supporting the development of statistical analysis on higher education data in 2011-2012.
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