Note: Today’s post is part of our “Editor’s Pick” series where we highlight recent posts published by our sponsors that provide practical knowledge and advice on timely and important supply chain and logistics topics. This post by Brian Hodgson from Descartes’ blog discusses how companies can leverage data to strengthen their supply chains, deliver better customer service, and create agility.
A couple of years ago, The Economist published an article claiming the world’s most valuable resource is no longer oil, but data. The main point of the story is that, while oil has been the dominant commodity for the last 150 years—and those who controlled oil created huge wealth and influenced global economies, government policy, and trade—the shift today is away from oil to those that control data: Google, Amazon, and Facebook. Like oil, data is not as useful in its raw form, but needs to be refined and processed to become valuable. While The Economist article was referring to consumer data and the big ecommerce players, the same transition is taking place in transportation and logistics.