A sharper view
Analytics in the global steel industry
Key messages from the article:
1. A gradual but pervasive evolution of analytics techniques in the global steel industry is expected over the next few years. Analytics has the potential to influence all major areas of the manufacturing value chain.
2.Manufacturing companies can gain a margin increase of up to 6 percent by applying a more holistic approach to using analytics. Many of the first and most significant applications of advanced analytics in the steel industry will likely be in the supply chain operations.
3.Advanced analytics represents a step change in capabilities. Steel companies have the opportunity to expand the use of analytics in managing their businesses and for strategic decision making.
4.It is early days for advanced analytics in the steel industry. There are opportunities for first mover advantage, exploiting lessons from the application of analytics in other sectors.
