Bologna, 3 December 2013 - Datalogic, a global leader in Automatic Data Capture and Industrial Automation markets and producer of bar code readers, mobile computers, sensors, vision systems and laser marking systems, expects a surge in next generation advanced data collection devices, which will intelligently edit and communicate data and play a critical role in providing improved Business Analytics, termed ‘Big Data’.
This vision for future market growth was delivered by Bill Parnell, President and CEO of Datalogic ADC, the division focused on the global Automatic Data Capture market. Speaking during the cornerstone CEO Vision session at ID WORLD Rio de Janeiro, the third Americas summit on traceability, mobility, and security held recently in Brazil, Bill Parnell presented his market insights.
“The objective in analyzing extremely large and diverse types of data is to uncover correlations and patterns, aiding fast decisions and improved business results. Business Analytics focuses on why events are happening, what will happen next, and how to optimize the enterprise’s future actions,” said Bill Parnell.
In the retail industry, for example, Bill Parnell sees the need for advanced data analytics being driven by a variety of applications which guide decision-making. Example applications include price and promotion optimization, store site selections using census data sets and satellite imagery, or in-store and on-line shopper behavior by tracking shopping patterns and purchases. If relationships between large and unrelated data sets are analyzed, new insights can be used to tune existing and future strategies to yield significant results improvement.
In terms of ‘big data’, the data volumes are huge. Wal-Mart is one example where data collected and used to drive business analytics exceeds 2.5 petabytes. The data contained in about 1 million customer transactions are being collected every hour. Mr. Parnell stressed the need for new data collection solutions to intelligently collect the large volume and variety of data in these complex transactional environments.
“Automatic Data Capture is no longer just scanning barcodes.”
The future of automatic data collection is going far beyond simply scanning barcodes. For instance, advanced high performance imaging technology reads barcodes but also provides images that are the basis for item recognition systems using visual pattern recognition software. He also stated that benefits from business analytics are being seen in many other industries such as government, healthcare, and logistics while also serving as a catalyst to the development of more complex and higher performing data collection systems.
The end goal is to manage ‘big data’ for better business and improved customer satisfaction. Next generation advanced data collection devices, such as those from Datalogic, are crucial in providing the fuel for these analytical decision-support systems.