Sadly, all good things must come to an end. The same can be said for OpTech 2024. But, yet again, it was a huge success! As the premier technology event of every year, it never fails to deliver excellence. OpTech is the best-of-the-best when it comes to technology events because it offers invaluable insights into all aspects of the supply chain. It does so by hosting hoards of the industry’s top leaders to curate an informative and innovative event. Attendees were given many opportunities to collaborate and network with goal-driven, like-minded professionals from all over! In addition to that, they were able to interact with key vendors and gain insight on the coming advancements of today’s supply chains. Needless to say, OpTech 2024 was a must-attend event. If you were unable to attend this year, you missed a lot of great content, but we want to share some key takeaways with you! Of the presentations that were given at OpTech 2024, many touched on the lessons that came from 2023’s supply chain, artificial intelligence (AI) in demand forecasting, predictive analytics for risk management, sustainability, private LTE connectivity for enhanced communications, and much more.
Here’s an introduction to our sponsor, Data41, and a recap of their presentation on the Business Impact of Generative Artificial Intelligence:
- Who is Data41 and what do they do? – As a data analytics company that was founded in 2006, Data41’s heritage is in providing line of business solutions for the office of finance. They essentially help automate the financial planning and analysis functions within the office of the CFO—including things like budgeting, planning, forecasting, and scenario analysis. Their business analytics solutions are very outcome-based and measurable. That’s how they got their start as a value added reseller of a platform-based solution. As they’ve grown since 2006 to present day, the marketplace has changed and their offerings have expanded, but their core competencies have remained the same. Their offerings now extend into other areas such as operational analytics, sales analysis, and customer retention analytics. It was a natural transition from financial planning and analysis (FP&A) to extended planning and analysis (xP&A) to be able to accommodate the entire enterprise. Data41 has also added sustainability reporting to their repertoire as it goes hand-in-hand with xP&A. It is just another data source that perfectly fits in with operational planning. Artificial intelligence (AI) has also been layered on top of their solutions because it permeates every part of the business. According to Data41, AI is a big component of what they do now, especially with the growing opportunities that surround AI. When talking about AI, Data41 is referring to both machine learning (ML) and Generative AI.
- How does Data41 stay at the forefront of AI and data analytics? –Data41 mainly utilizes the channel ecosystem and their network to stay up to date on technological innovations. While reading tech publications and watching the trend forecast are useful ways to stay current with industry changes, nothing compares to first-hand resources. For that reason, Data41 taps into their clients for direction. Going straight to the source is the most effective way to determine business needs, uncover annual objectives, and improve tech solutions that tackle business challenges. In addition to that, Data41 deduces their client’s three-to-five-year plan, then diagnoses the solution offering that best matches their needs. If ever there’s a gap or a newer technology on the horizon, Data41 tries to communicate that and develop a plan for when that newer technology is readily available.
- What did Data41 present at OpTech 2024? – To put it simply, Data41’s presentation was designed to clarify what artificial intelligence (AI) actually is and how they help their clients leverage it as a powerful business tool. They took a step-by-step approach in explaining its history and conducted a deep-dive on the AI solutions offered by the major players in AI. Then, they went on to discuss Generative AI and its accompanying opportunities. Data41 looks for Generative AI opportunities where they can automate administrative tasks within their clients’ organizations to help streamline workflows. From Data41’s perspective, Gen AI is just a refined business tool that more accurately performs analysis, provides support, and produces output. Data41 always begins the discovery process by acknowledging the outcomes their clients are trying to achieve, figuring out how they can measure them, and how they can construct solutions that will deliver those outcomes.
At Heartland, nothing makes us happier than providing our customers with sustainable and scalable solutions designed to enhance their operational efficiency, sustainability, productivity, and profitability. We also take great pride in hosting and collaborating with industry leaders like Data41. If Heartland, OpTech or Data41 pique your interest, be sure to mark your calendars for OpTech 2025 and reach out to our team today to learn more.