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Food and Beverages | Wednesday, June 10, 2020
Beverage technology is advancing at a great speed. It has become vital for companies to know about the latest technology and how to implement them in organizations.
FREMONT, CA: The ceaseless march of the developing technologies looks like they facilitate groundbreaking change in every facet of lives. But one area of circumstances that may escape consideration in this acknowledgment of continuous improvement is beverages.
Better processes, more accurate quality control measurements, and high-efficiency equipment may impact the final product. Still, new technologies that leverage customer engagement are taking center stage as firms look forward.
The changing economy comprises of complex circumstances affecting a wide array of stakeholders. The information shared and quick access to data causes the pace of business to stimulate at a rapid rate. This combination of complicated decision-making factors and fast pace means that the companies without ready, actionable insights will fall behind.
The beverage industry takes a Big Data approach to common issues. Big Data approach rewards proactive organizations by utilizing the ubiquitous data collection to enhance the product quality and consistency actively, which results in a better brand reputation and higher market perception.
But the engagement isn't limited to the manufacturing line. Organizations with an eye on the competition are using data more than ever to position themselves in the market effectively. In the survey, 42 percent of CEOs surveyed responded that they were using analytics to better product distribution, and 35 percent of those surveyed were using the information to attain the customers.
This kind of numbers-first mentality is increasing to nearly every aspect of the industry. The businesses are managing brands and products more effectively, actively making pricing decisions based on data collection, and optimizing the operating model. The decision-making practice will not disappear either, particularly with consumer engagement technologies on the rise and a transforming marketplace demanding better and better adherence to its changing whims.
As businesses strive to optimize profits, revenue streams not only the components receiving scrutiny. As useful as strong customer engagement and data-driven insights can be, lowering overhead costs by optimizing how an organization functions can provide essential savings when working to remain competitively viable. For this reason, businesses have adopted the much-hyped and still-young Cloud to change the face of operations.