Information has become the most precious commodity in the new millennium, but both private and public organizations have faced a new challenge: managing and analyzing overwhelming amounts of data to derive meaningful benefits from it. “A pressing need exists to identify and capitalize on Big Data opportunities as market volatility, constantly changing regulations, and a sharpened focus on risk management become the new normal in a globalized world,” according to Trevor Silver, founder and CEO of leading analytics, data engineering, and cloud computing solutions provider Exusia. “The requirements are especially onerous in the vital food industry, which operates under the constant scrutiny of regulators and various oversight bodies. Fortunately, it also stands to reap tremendous benefits from utilizing Big Data and applying analytics across the entire supply chain, from food producers and shippers to grocery stores and restaurants.”
Aside from having to ensure safe, fresh, and affordable fare, the food industry needs to be agile enough to accommodate changing consumer preferences and eating habits, Trevor Silver notes. At the same time, food producers, distributors, and retailers must meet stringent requirements without undermining their ability to operate profitably. With Big Data at their disposal, industry operators can access various sources and use analytical tools to identify issues along the supply chain, anticipating problems or identifying opportunities with the help of data-driven insights. In the case of agricultural producers, applying predictive solutions can maximize crop yields and prevent health issues in cattle through, for example, the recognition of patterns. For food transportation companies, Big Data offers the possibility of optimizing delivery capacity and ensuring timely arrival of the products via the analysis of road conditions, the weather, and customer needs. In grocery stores and restaurants, data-derived insights can increase the speed and punctuality of deliveries, predict consumer preferences, optimize pricing, and enable precisely targeted advertising to expand the client base. All of these combine to create a supply chain that operates at maximum efficiency.
Perhaps as important is the ability of Big Data to enhance transparency in the food industry and allow brands to elevate their profile and attract new customers by reaching out to the right audience, Trevor Silver adds. “Several factors contribute to the need for transparency such as an increase in the global population, detection of foodborne illness outbreaks, efficient management of risks and recalls, and satisfying consumer demand,” according to a report published in Trends in Food Science & Technology. With support from Big Data, the food industry can improve transparency as operators become capable of better tracking and monitoring their goods from the farm to the plate. Last but not least, analytics tools are invaluable in informing decisions on marketing and promotional activities, allowing food brands to gain insights into customer purchase habits, product preferences and innovation, trends in demand, as well as the timing and location of campaigns to maximize return on investment.
Trevor Silver has come to be regarded as a leading figure in the analytics and data engineering industry, as well as an insightful investor and entrepreneur. Over the course of 20 years, he has amassed outstanding credentials in the fields of enterprise data strategy, architecture, delivery execution, and managed services, offering agile technology solutions and operational guidance to companies across the healthcare, financial services, telecommunications, hospitality, entertainment, energy, and consumer products industries. As founder and CEO of Exusia, Trevor Silver has built the New York City-based enterprise into a leading provider of analytics, data engineering, and cloud computing solutions to organizations around the world. Since its inception in 2012, the company has expanded its employee base to more than 500, while its exceptional growth rate and client success score have been recognized by numerous publications, including Inc., Crain’s, CIO Review, CIOLook, Industry Era, CIO Bulletin, and Insights Success.
Trevor Silver, CEO of Exusia, on the Need for Data-Driven Insights to Improve Efficiency and Transparency in Government Agencies: https://news.yahoo.com/news/trevor-silver-ceo-exusia-data-023000509.html Trevor Silver, CEO of Exusia, Reviews Factors Driving Growth in Healthcare Analytics Market: https://finance.yahoo.com/news/trevor-silver-ceo-exusia-reviews-173600051.html Trevor Silver, CEO of Exusia, on the Importance of Analytics for Boosting Corporate Revenues: https://finance.yahoo.com/news/trevor-silver-ceo-exusia-importance-222000959.html