Real-time data: a real competitive advantage

The digital transformation is enabling companies to collect more and more business-relevant data. In order for companies to remain competitive, the processing and efficient use of data is of central importance. Real-time data plays a very important role in this.

Deciding – on the basis of data

Data-driven companies do not make decisions based on a gut feeling, but evaluate facts. The first step towards evidence-based decisions is to create a central database. To do this, all data from different systems is aggregated, cleansed and processed into usable information. You can find out exactly how data-based management works in this article.

Different systems, many challenges

Data is often stored in different silos and systems and comes from different sources. They have different formats or are not linked to each other and sometimes they are not available to all relevant stakeholders. In many companies, data is updated irregularly.

The first step is therefore to synchronize the data in order to turn it into useful information. Data sources must be connected, data harmonized and, if possible, made available in real time for further processing via a central interface.

Real-time data is particularly in demand for production, marketing and customer service and is important for efficient processes.

Our solution: Panter Data Link

How companies benefit from real-time data

Dynamic pricing, for example, is possible with real-time data. This means that an online store continuously adjusts prices to the current market and demand. A few examples: In logistics, a freight forwarder can use real-time data on supply and demand and fuel prices to flexibly adjust freight rates and react quickly to the dynamic market.

A wholesaler uses real-time data on weather, crop yields and transport delays to adjust prices and availability. Canteen operators such as the ZFV companies with restaurants throughout the country play out menus individually – thanks to real-time data on guests’ eating habits.

Prepare data visually, individually and comprehensibly

It is not enough to simply collect and analyze data. The results must be presented in a way that users can understand. The dashboard is an application that displays real-time data for various stakeholders. Criteria can be individually defined in the board and the preparation of the data is automated. It goes without saying that we offer you a customized dashboard solution that meets your exact needs.

Real-time solutions at management level

Management or decision-makers benefit from real-time data by being able to make faster and more accurate decisions based on up-to-date information.

You can identify trends at an early stage, tackle problems immediately and manage business processes more efficiently. Real-time data also gives rise to new business models and companies can realign themselves.

Companies can also make their data available to customers, which can automate the reordering of goods, for example. A smart printer recognizes when the ink has run out and automatically triggers a reorder. New innovative services are created.

With real-time data, a shipping company can use dynamic route optimization. Traffic data, weather and customer requests are incorporated in real time so that drivers are more efficient on the road. Same-day delivery becomes possible.

A head start through artificial intelligence

In the past, it was very time-consuming to merge and process data. Thanks to AI, it is now much easier. The advantages for companies are obvious. AI models can be used universally. “They are cost-effective, quick to set up and help to aggregate and evaluate data more easily,” says Martin Mächler, Partner at Panter.

Artificial intelligence is extremely helpful when collecting and structuring data. When real-time data is prepared in a dashboard, AI can be used to automate even more processes. The canteen operator who has customized his dishes in the branches can also use AI to create corresponding menu photos.

Wide range of applications

At SRG, various business units work both autonomously and jointly. They generate and process publication-relevant data via various systems. These systems continuously generate metadata. The information is now provided via a standardized interface and a standardized data model. Unstructured data is also automatically transformed, correlated and made available in real time or on request. Read more about SRG’s new data platform in the following success story.

Real-time data also helps with sustainability: thanks to the data, the canteen operator can react more quickly to needs, food waste is reduced and menus can be produced more sustainably. Better decisions can be made at all levels of the company.