Facebook Announces New Business Tool, Twitter Tests Topics Shortcut, and More Social Media News for October 2019

Facebook Announces New Business Tool, Twitter Tests Topics Shortcut, and More Social Media News for October 2019

Also, this month in social media news: a court rules LinkedIn cannot stop third-party scraping public information and Facebook expands “Today In” section.

After a relatively quiet month in the world of social media news, social platforms have been hard at work making changes to provide a better user experience and cut down on spam accounts. This is good news for B2B marketers looking to stand out amongst all the competition.

With the growing influence of social networks, social channels have been challenged with making sure the information shared on their sites is authentic and “real” news. In response, social platforms have been working to sort through fake accounts and streamline ways to detect and remove these accounts, which often result in major losses of followers.

But this decline in user accounts does not mean that social media platforms’ influence is declining. In fact, social media usage is at an all-time high, and networks are pushing out new updates, features and policies to keep users happy.

Here’s your social media news for October 2019.

Facebooks announces new business tool for Messenger

Looking to increase leads and engage with new audiences? Facebook is trying to help. The social network introduced a new package of tools for the 40 million active businesses on Messenger, including booking appointments and lead generation workflows. As the new features were announced, Facebook also reported the Discovery tab will be phased out. According to Facebook, “Businesses engaging with potential leads in their preferred channel are seeing results, and finding it easy to continue the conversation and seamlessly nurture leads in Messenger.”

Twitter tests new ‘topics’ shortcut

Twitter users may soon be able to follow topics in the same way they would follow users. Users can see tweets about topics they choose (like digital marketing, supply chain procurement, or even sports) in the home feed. Individual tweets will be monitored through machine learning and chosen to be included in specific topics.

Though only in the testing phase, the new shortcut would help users discover the exact content they need and want without following a specific account. The Verge reports that Twitter is also working on other ways to improve the user experience, including searchable direct messages, the ability to re-order the photos in a tweet after you have attached them to a new post, and plans to add support for Apple’s Live Photos.

Court rules that LinkedIn cannot stop third-party data scraping of public information

hiQabs has been collecting public user information on LinkedIn to create analytics for employers that accurately identify employee patterns and help with retention efforts. But LinkedIn has tried to block the “data scrapping,” alleging that hiQ was violating the CFAA, as well as the Digital Millennium Copyright Act (DMCA).

Until now, when a San Francisco appeal’s court told LinkedIn to take a step back. The court’s decision means the CFAA doesn’t apply to public information, including information collecting via social media platforms.  This decision could have major implications for social platforms looking to protect user privacy. We’ll continue to closely monitor any updates from this case in next month’s social media news.

Facebook expands “Today In” section

“Today In” has been running in six U.S. cities since January 2018, and has over 1.6 million people who have opted to receive regular local updates from Today In within the newsfeed. Facebook just announced they’ll be expanding the news section to 6,000 more U.S. cities and towns, bringing local news to “news deserts,” areas with limited local news available.

“Today In” showcases the biggest news stories and happenings in local regions. With declining engagement rates, Facebook created the separate newsfeed in an effort to boost engagement and discussions around topics that matter to local areas.

Facebook clarifies privacy settings for Groups

Public, closed, or secret? What do these privacy settings mean? Users across Facebook’s platform weren’t sure, so the network has changed the wording describing the privacy settings for groups. To make these settings clearer, groups now have the option of public or private. Facebook writes:

“We’re making this change because we’ve heard from people that they want more clarity about the privacy settings for their groups. Having two privacy settings — public and private — will help make it clearer about who can find the group and see the members and posts that are part of it. We’ve also heard that most people prefer to use the terms “public” and “private” to describe the privacy settings of groups they belong to. “

The changes leave privacy settings more straight-forward. Public groups show anyone who is a member and all the content shared within the group, while private groups will only show members and content to users that join the group.

Related posts:

Infographic: The Ultimate Guide to Reddit for B2B Marketing

Infographic: The Ultimate Guide to Reddit for B2B Marketing

Our infographic gives you everything from the basics to the specifics of using Reddit for B2B marketing.


Highlights:

  • Reddit is a social platform made up of thousands of individual forums where users can post content and vote on its relevance and value.
  • The first rule of Reddit: avoid overt brand promotion and sales pitches.
  • Creating your own subreddit is the best way to make Reddit a high-value marketing channel.

Reddit calls itself the “frontpage of the internet.” And for good reason. The social networking site boasts over 300 million active users, as well as 140,000 active communities and a whopping 14 million pageviews per month. However, when it comes to using Reddit for B2B marketing, it’s still a relatively untapped channel.

Our infographic is your ultimate guide to using Reddit for B2B marketing. Read on to find out more about this platform and how you can put it to work for your business.

What is Reddit?

Since the site was founded in 2005, Reddit’s user base has skewed young. However, as millennials come of age and rise to positions of influence within the B2B purchasing landscape, Reddit is becoming an increasingly effective way to reach your target audience.

At its most fundamental level, Reddit is a social sharing website built around users submitting links, pictures, and text, which the community can then vote on. Similarly to Quora, the content that’s voted as best rises to top visibility, while downvoted content becomes less visible.

The structure of the site resembles an intricate message board, divided up into hundreds of thousands of subfolders, called “subreddits,” which function as specific forums. Imagine just about any topic you can think of, and there’s probably a subreddit for it. In fact, for thinking about Reddit for B2B marketing, the following subreddits could be of interest:

If you’re looking for industry discussion on a specific marketing topic, it’s likely you can find a relevant subreddit. While each subreddit has different moderators and regulations, there’s one common thread that runs through the entire site: there is a premium placed on authentic content and interactions – and a disdain for overt self-promotion.

Reddit for B2B marketing

(Made with Canva)

Using Reddit for B2B marketing in 5 steps

Now that we’ve covered the basics about what Reddit is and how it works, let’s talk about how to make it part of your marketing strategy.

Step 1: Determine your target subreddit(s).

In the same way that a good digital marketing strategy begins with identifying your target audience, determining your target subreddits is the starting point for successfully using Reddit for B2B marketing. While the massive quantity of subreddits can be overwhelming, consider the following three questions to zero in on the right subreddits for your business:

  • Does the subreddit relate to your business’ brand or products, as well as any specific keywords that shape your digital marketing strategy?
  • How large is each subreddit’s audience? (Note: bigger isn’t necessarily better. A larger audience has the potential to generate more traffic, but it’s easier to establish your brand’s presence in a smaller subreddit.)
  • How much engagement does the subreddit generate?

Once you’ve determined a few relevant subreddits with various audience sizes and high engagement, you’re ready to begin posting.

Step 2: Post links… to websites other than your own.

Before you start wondering why we’re encouraging you to promote other pages, there’s another facet of Reddit to consider. The platform takes the idea of Karma to a literal level. On Reddit, your reputation is referred to as your “Karma score,” and it’s determined by your level of positive participation on Reddit, measured by the number of upvotes you receive. As your Karma score rises, your posts become more visible.

One of the most effective ways to boost your Karma score, particularly when you’re starting out, is to post links to content that the subreddit community finds relevant and generate conversation. It’s important to make sure you don’t repost content that another member of your subreddit has already posted, as duplicates can hurt your Karma score.

Step 3: Share valuable content… that’s not a sales pitch.

When posting content to your target subreddits, the path to success is quite simple. Post content that offers value to the community. This means engaging in discussions, asking and answering questions, and, at all costs, avoiding blatant sales pitches.

Sam Holzman of ZoomInfo explains it this way: “Sharing a link to a product page will signal that you’re a marketer who wants to promote products, not an engaged community member. On the other hand, a blog post about the benefits of a particular product will be more useful to your fellow community members and, as a result, is more likely to be upvoted and commented on.”

Step 4: Advertise on Reddit.

While blatant sales pitches on Reddit are a sure way to a low Karma score, the platform does offer its own native advertising. Similar to Facebook and Twitter, Reddit Advertising is a relatively inexpensive way to boost the visibility of your content on the platform. However, it’s important to note that Reddit doesn’t offer the type of analytics as Facebook and Twitter.

Sponsored posts on Reddit appear at the top of targeted subreddits for a specified duration. You pay for duration as well as the number of impressions you receive. Sponsored posts look like any other Reddit posts. Advertising on the platform isn’t necessary for success, but it can help establish a visible presence, particularly at first.

Step 5: Create a subreddit.

Creating a subreddit isn’t easy – it requires a significant time investment to start and maintain. However, doing so is the best way to turn Reddit into an extremely valuable marketing channel. Once you’ve established your presence, creating a branded subreddit gives your customers and prospects a forum to interact, with you and with each other.

Particularly at the outset, you’ll likely need to promote your subreddit on other platforms. Post links to it on your other digital assets, and you could even offer an incentive for engaging on your subreddit.

Your branded subreddit is also an ideal place to offer customer service. Holding exclusive Q&As, referred to on Reddit as AMAs (“Ask Me Anything”), is another effective strategy to drive traffic and engagement on your subreddit.

The bottom line on Reddit for B2B marketing

Reddit is a rich resource for marketers and a fertile ground for marketing your brand and products. The platform is best thought of as a place to share and engage with high-quality, valuable content, rather than as a place for overt promotion. Effectively using Reddit for B2B marketing requires an investment of time and energy, but the results can be well worth the effort.

Related posts:

New Call-to-action

Video: How Your Brand Can Benefit from User Generated Content

Video: How Your Brand Can Benefit from User Generated Content

Consumers are more likely to trust content generated by their peers, which means higher conversion rates at a lower cost for your brand. Is your brand benefitting from user generated content?


Highlights:

  • User generated content is content created by users of a specific brand or on a specific platform.
  • Images and video of real people using your products or talking about your services will create trust and loyalty for your brand.
  • Don’t be afraid to engage with your audiences over social media, respond to comments, and answer questions.

Video transcript:

I’m Katie Russell, a marketing strategist here at Fronetics, and today I wanted to talk to you about user generated content. Also known as UGC, user generated content is one of the hottest topics in digital marketing right now, but there are many businesses that don’t know how to use this tool to their advantage.

Let’s start with the basics.

What is UGC?

User generated content is content created by users of a specific brand or on a specific platform. It’s highly effective and comes at little or no cost to your business.

With that said, a lot can qualify as UGC including: comments on your blog, testimonials on your website, social media posts, blog articles, videos, Instagram stories, The list goes on and on. What it comes down to is that UGC is really any form of content that comes from a customer or a user.

So, what are the benefits of UGC?

Authenticity

We know that consumers are more likely to trust content generated by their peers, which means higher conversion rates at a lower cost for your brand. This also means the content is authentic and genuine reviews from buyers. Does it get any better than that?

Inexpensive

Since your brand is not generating the content, you don’t have to invest in the time and resources to create it.

What’s hot in UGC right now?

Visual content

Visual content is by far the most popular among audiences, so visual UGC is a no brainer. Images and video of real people using your products or talking about your services will create trust and loyalty for your brand.

Snackable content

We all know that the attention span for content is extremely short these days. When reposting UGC, focus on short, funny and positive content. Content that leaves users feeling informed and entertained will perform best for your brand.

Enlisting influencers

Whether it’s a famous celebrity or a micro-influencer that’s respected within your industry, brands involving influential people in their marketing campaigns can expect higher ROI from UGC.

Don’t forget to follow-up

Once you’ve grabbed the attention of your community with a successful UGC campaign, it’s up to you to capitalize on the momentum. Don’t be afraid to engage with your audiences over social media, respond to comments, answer questions. Have questions about starting a UGC campaign as a part of your digital marketing strategy? Visit us at fronetics.com.

Related posts:

effective content strategy

Are Supply Chain Organizations Neglecting Their Gen X Talent?

Are Supply Chain Organizations Neglecting Their Gen X Talent?

New research shows Gen X business leaders are being promoted slower than their millennial and boomer counterparts. This Gen X talent looking to jump ship.

This guest post comes to us from Argentus Supply Chain Recruiting, a boutique recruitment firm specializing in Supply Chain Management and Procurement.

Much attention has been given to millennial employees over the years –what attracts them, what causes them to stay in a role, how to manage them differently than other generations of employees. It was a hot topic of discussion at the recent SCMA National Conference. At the same time, more baby boomers are beginning to retire. These two generations represent the back and front end of the Supply Chain industry’s talent pipeline, and they’ve been the industry’s focus. But of course, the demographic picture is broader and more nuanced than just these two generations.

Last week, we wrote an article about the importance of the emerging Generation Z – people born between 1997 or so and the 2010s – to companies seeking to win the war for Supply Chain talent. Hopefully, it helped fill in the generational picture even further.

Now a recent, very interesting article in Harvard Business Review has us wondering – are Gen X employees being forgotten by the industry? If so, what’s the impact on their careers, as well as organizations who employ them – the companies who stand to lose if dissatisfied Gen X’ers begin to jump ship?

At the risk of explaining the obvious, Gen X’ers are generally defined as being born between the mid-1960s and early 1980s – after baby boomers, but before millennials. They also came of age with a reputation for being “unambitious” – a reputation that’s just as outdated as some of the most famous slacker movies (classic though those movies may be).

As we said with our article about Gen Z, these generational distinctions are a bit fraught. Career motivations are different for every person. They’re too complex to paint everyone with the same brush. But when you can marshal enough data, you can start to learn some interesting high-level things about the hopes, dreams, and discontents of a particular demographic. In 2018, HBR worked with EY and The Conference Board to collect and analyze data from some 25,000 business leaders. Those surveyed were from all over the business landscape, but there’s data here that will be useful for Supply Chain organizations looking in the mirror.

Some of the results related to Gen X in the workplace were very interesting, in particular:

  • The majority of Gen X leaders (66%) had either not been promoted in the past 5 years, or had only been promoted once.
  • Baby Boomer and Millennial leaders were more likely to receive promotions (58% and 52% respectively). This is unsurprising for the boomer generation, but it is surprising that a generation younger than Gen X seems to be getting promoted more. It suggests Gen X employees are being “skipped” compared to their counterparts.
  • The data found that Gen X employees are promoted typically 20%-30% slower than millennials are.
  • Generally speaking, Gen X managers have more direct reports than millennial managers at the same level, indicating a higher workload.

This is the situation on the ground for Gen X talent and leaders. But how are they responding to this lack of advancement?

Gen X employees tend to be more loyal to their current employers, with 37% contemplating leaving their current role compared to 42% for millennials. They came of age before the 2008 financial crisis, in a time before the rise of the gig economy, which might account for their willingness to spend longer in a role.

But companies shouldn’t mistake this loyalty for complacency: according to the data, only 58% of Gen X employees feel that their careers are advancing at a good rate, which is significantly lower than the 65% of millennials who feel the same way. Almost one in five Gen X leaders surveyed reported an increased desire to leave their current role (18%).

Many organizations are beginning to reckon with the retirement of the baby boomer generation. They’re trying to attract and retain millennial talent by improving opportunities for career growth. Maybe they should also be doing more to nurture Gen X talent, to avoid losing that all-important middle group within the talent landscape.

As Stephanie Neal, the HBR writer puts it, a significant number of Gen X’ers might be reaching a “breaking point in” their careers. But she identified some key strategies for companies to avoid neglecting Gen X talent:

  • Invest not only in continuing education for employees, but personalize it. Most Gen X employees have developed a broad base of skills, but individual needs and desires vary. Organizations should tailor their talent development to each person. Stay interviews, which we’ve written about recently, are a good strategy to better understand what motivates each individual in your organization.
  • Give Gen X leaders opportunity for mentorship, and not just within the organization. We also recently wrote about the power of mentorship in a Supply Chain career, so we were happy to see HBR highlight the importance of mentorship as well. According to the research, a majority of Gen X leaders craved mentorship outside their organizations, which is enabled by things like industry conferences and professional groups. Investment in these opportunities not only helps with retaining Gen X leaders, it also offers chances to expand your supplier network or find new business.
  • Hire and promote based on data, rather than gut feelings. Hiring managers often work hard to try to eliminate unconscious bias from the hiring process, but ageism often goes under the radar. Applying stereotypes to a certain cohort introduces bias that harms your process and leads to dissatisfaction. Neal uses the example of assuming that a millennial would be better at a digital marketing role than a Gen X employee. Decisions based on data such as assessments and quantifiable achievements will always be more successful than those based on stereotypes.

It’s a good start, but maybe this is issue deserves an even closer look. If we may add another tip: avoid stereotypes. Data surveying the preferences and mindsets of a large group of people can be instructive, but don’t assume that every Gen X employee is wired the same way.

What do you think? Are there any specific talent retention strategies for individuals in the Gen X cohort? Are you of this generation, and if so, how do you feel about your career prospects? We’d love to hear from you.

Related posts:

on writing good content

What You Need to Know About AI for Marketing

What You Need to Know About AI for Marketing

In a highly competitive B2B landscape, AI can be the strategic advantage your brand needs. Here’s everything you need to know about AI for marketing.


Highlights:

  • AI enables predictive analysis – the ability to look at a large set of data and predict what steps to take to reach a desired outcome.
  • Social listening powered by AI gives marketers key insights into brand perception and audience reaction.
  • When considering purchasing an AI technology for marketing, consider if it includes its own Big Data source.

When we think about artificial intelligence (AI), it’s often with a twinge of unease. Whether it’s pop culture telling us that robots will take over at their earliest opportunity, or fears of human labor being replaced with machines, AI is a complex, controversial, and even mysterious topic. But when it comes to the applications of AI for marketing, there’s actually a lot to celebrate.

It’s important for marketers not only to have a thorough understanding of the uses of AI for marketing, but to be aware of industry trends, and how to determine investment to maximize ROI.

What is AI for marketing?

While it’s not necessary for marketers to be artificial intelligence and robotics experts, it’s beneficial to have a functional understanding of the technology that enables AI for marketing. In a general sense, the term “AI” refers to the area of computer science that enables the creation of software and machines that possess what we think of as intelligence. That is, they are able to work, react, and learn without being specifically programmed for each task.

AI is enabled by data science, “the practice of organizing and analyzing massive amounts of data.” When it comes to marketing, AI can be thought of as an extension and development of marketing automation. Essentially, AI for marketing is software that collects, analyzes, and reacts to large amounts of data, with increasing levels of sophistication.

According to content intelligence expert Bart Frischknecht, of Vennli, AI for marketing can be categorized in one of two ways.

  • Recommending: This type of marketing software “predicts which action will have the most positive outcome in order to recommend a next step in a series of events.” Frischknecht describes these recommendations as “stepping stones on the way to fully automating a given task.”
  • Automating: Software that automates is a furtherance of software that recommends. For a task to be automated, it needs to be “routine and repeatable, the goal needs to be specific, and the steps to achieve that goal must follow an exact set of rules.”

Think of data as the fuel that powers AI for marketing. As we gather more and more data, and devise increasingly sophisticated analytical methods, the possibilities for intelligent automation in marketing will continue to expand.

5 examples of AI for marketing

1) Data filtering and analysis

At Fronetics, we’ve advocated for a data-driven approach to marketing since our founding. For marketers, data is the most powerful strategic weapon in your arsenal, and AI is sharpening it even further. AI software can consolidate large amounts of data, and analyze it to determine patterns and trends.

2) Social listening

Social listening, also known as social monitoring, is the process of observing and examining social media, to identify and access what is being said about your brand. Social listening gives marketers valuable market intelligence, prospect insight, tone awareness, and competitive advantage.

Current AI software lets marketers not only engage in sophisticated social monitoring, but it also enables “sentiment analysis,” automatically generating a report of the overall attitude of your audience and perception of your brand.

3) Predictive analysis

Beyond simply filtering and analyzing data, AI for marketing goes a crucial step further: predictive analysis, the practice of applying the information extracted from data sets to predict a future outcome or trend.

This revolutionary capability of AI can be used to analyze buyer purchase behavior, for example, and determine when and how to distribute certain types of content. Social media scheduling tools, for instance, use predictive analysis to suggest the optimal times to share content.

4) Audience targeting and segmentation

As B2B buyers increasingly come to expect personalization at all stages of the buyer’s journey, it can be a challenge for marketers to deliver. However, AI makes personalization possible at a large scale, drawing on data to segment and categorize audiences.

The limits of the specificity of this segmentation are determined only by the amount of data available. In other words, the more data, the more the AI software can instantly segment a contact list and deliver personalized correspondence.

5) Chatbots

One of the most ubiquitous examples of AI for marketing, chatbots are computer programs that simulate human conversation using auditory or textual methods. Chatbots communicate with buyers within a messaging app, like Facebook messenger.

3 questions to ask when considering an investment in AI for marketing

While the possibilities of AI for marketing are virtually endless, the reality for most companies is that marketing budgets are not. When considering an investment in any technology, including AI, maximizing ROI should be top of mind. Frischknecht suggests that marketers ask the following three questions when considering an investment in AI for marketing:

  • Which marketing task will this technology automate, and will doing so alleviate a significant burden for marketing staff?
  • Does purchase of the tech include its own Big Data source, or do I need to provide all the data? If the latter, do I have adequate data, and can I connect my data source to the tech?
  • What evidence exists of the tech making good recommendations or automating one of my tasks.

AI is revolutionizing marketing. Investing intelligently in these technologies can provide critical market insights, data processing capabilities, and predictive analysis.

Related posts:

New Call-to-action

 

7 Ways Machine Learning is Improving Supply Chain Management

7 Ways Machine Learning is Improving Supply Chain Management

Machine learning is shaping the future of supply chain and logistics management, improving accuracy, speed, scale, and more. Here’s how.


Highlights:

  • Machine learning refers to an application of artificial intelligence that lets systems learn and improve automatically based on experience.
  • Experts predict that 95% of supply chain planning vendors will rely on supervised and unsupervised machine learning for their solutions by 2020.
  • When paired with the Internet of Things, machine learning can provide cost savings around $6 million per year.

When it comes to the future of the supply chain, machine learning is one of the most exciting applications of artificial intelligence (AI) technology out there today. Machine learning is a mode of data analysis that provides systems with the ability to learn and improve automatically from experience, without being specifically programmed.

Gartner recently projected that by 2020, 95% of supply chain planning vendors will rely on supervised and unsupervised machine learning for their solutions. Furthermore, it isn’t just expert predictions that demonstrate the impact and potential of machine learning for the supply chain. Amazon, for example, is using machine learning to improve accuracy, speed, and scale for its Kiva robotics, and DHL relies on machine learning to power its Predictive Network Management system.

So, what is it about machine learning that makes it ideally suited to meet the challenges commonly faced by supply chain companies? The answer lies in the fact that machine learning algorithms are brilliant at detecting patterns, anomalies, and predictive insights. This makes it the ideal technology to help supply chain companies forecast error rates, reduce costs, improve demand planning productivity, and increase on-time shipments.

Here’s how these remarkable technologies are already revolutionizing supply chain management.

7 ways machine learning is improving supply chain management

1) Logistic solutions

Particularly when it comes to resource scheduling systems, machine learning algorithms are driving the next generation of logistics technologies. An April 2019 report from McKinsey predicts that “machine learning’s most significant contributions will be in providing supply chain operators with more significant insights into how supply chain performance can be improved, anticipating anomalies in logistics costs and performance before they occur.”

2) Internet of Things

The Internet of Things (IoT)’s sensors, intelligent transport systems, and traffic data generate a tremendous variation in data sets. Machine learning has the potential to deliver increased value by analyzing these data sets, thereby optimizing logistics and ensuring that materials arrive timely.

Additionally, machine learning can reduce logistics costs by uncovering patterns in track-and-trace data captured through IoT-enabled sensors. A December 2018 study by Boston Consulting Group determined that pairing machine learning (specifically Blockchain) with the IoT can contribute to cost savings of $6 million per year.

3) Preventing privileged credential abuse

A recent article in Forbes points to privileged credential abuse as “the leading cause of security breaches across global supply chains.” Machine learning can prevent these abuses by verifying the identity of anyone requesting access, as well as the context of the request and, most importantly, the risk associated with the access environment.

4) Reducing fraud potential

In addition to reducing risk and improving product and process quality, machine learning can reduce the potential for fraud in the supply chain. For example, machine learning startup Inspectorio is a solution to the problems “that a lack of inspection and supply chain visibility creates, focusing on how they can solve them immediately for brands and retailers.” Their algorithm provides insights that instantaneously reduce the risk of fraud.

5) Reducing forecast errors

According to a recent report from Digital/McKinsey, “Lost sales due to products not being available are being reduced up to 65% through the use of machine learning-based planning and optimization techniques.” The same report observes that “inventory reductions of 20 to 50% are being achieved today when machine learning-based supply chain management systems are used.”

6) Detecting inconsistent supplier quality levels

Machine learning can help manufacturers combat one of the biggest problems they face today, namely a lack of consistent quality and delivery performance from suppliers. These technologies can quickly detect and address errors, as well as determine highest and lowest performing suppliers.

7) Preventative maintenance

Preventative maintenance is a tremendous strategic asset for the supply chain. And, when paired with machine learning, it “allows for better prediction and avoidance of machine failure by combining data from the advanced IoT sensors and maintenance logs as well as external sources,” according to the same Digital/McKinsey study mentioned above. Not only that, “asset productivity increases of up to 20% are possible, and overall maintenance costs may be reduced by up to 10%.”

The bottom line: machine learning is reinventing supply chain management

Not only has machine learning already realized tremendous value for the supply chain, but the very nature of this technology means that the possibilities are virtually endless. Algorithms continue to become more sophisticated, and, as new challenges arise, machine learning grows and evolves to meet them.

Related posts:

New Call-to-action