LBA_2.docx - Write an essay that critically evaluates emerging trends in business analytics and applicability to adding business value within a

LBA_2.docx - Write an essay that critically evaluates...

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Write an essay that critically evaluates emerging trends in business analytics and applicability to adding business value within a logistics context. The history of transportation sciences started in early 60s transportation for traffic and public transportation; and logistics for physical distribution and inventory management. The definition of transportation has broadened to include passenger and freight, while logistics has included supply chain management which logistics not only limited in transferring item. It had become an important linkage between different parties. Furthermore, from year to year, technology is evolving faster than what we can imagine, becoming an opportunity as well as uncertainty to logistic industry (Kondratjev, 2015). The innovation and emerging trends in logistics and business analytics are significant for businesses to succeed in a highly competitive business environment. Businesses and investors are expecting the future of logistic industry that has a single transport area, zero barriers for all modes of transportation, promoting green environment, transportations that operate on alternative fuels, simplified shipping formalities, and e-commerce that opens the door to borderless trade [ CITATION Spe18 \l 17417 ]. Meanwhile, customers would want their purchasing that can be made anytime, from anywhere around the world, and receive their orders within hours instead of days. According to Fosso Wamba, et al., (2015), business analytics is a holistic method to manage and analyse data for creating useful and workable insights. Technologies will be used to collect, manage, and analyse the data to support businesses in making decision (Santiago Rivera and Shanks, 2015). For example, Google Analytics were introduced to allow users to get deeper insights on their data for examples demographics information, status of the users whether first time users or repeating users, and total views. The development of business analytics will continue to grow with real-time analytics, big data, and automated analytics [ CITATION Pow18 \l 17417 ]. Today, logistics industry is converging with the latest business analytics to bring transformational business value, achieve competitive advantage, and become market leaders. In the world with high competition, businesses are focusing on meeting customer’s needs and expectations. Robots and autonomous technology can be help in it by helping the company to preparing customer’s order for shipping and customs to have a faster clearance using new simplified shipping formalities. Moreover, it provide a complete visibility with the tracking devices on the packages until it arrived at its final destination (Ramanathan et al. , 2017).
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Supply chain management is use to adapt the unpredicted changes in the market, therefore, it is important to be flexible to meet customers’ requirements at different various locations with several transports’ modes and at different times. Thus, logistics industry had become larger and complicated with different type of new method and innovative approaches to suit the customer need and increase company efficiency (Jiang and Tian, 2009).
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