We’re hearing a lot about big data. Marc Herman raises the question – can big data investment in big data will this help prevent huge distributions in supply chain like it did in 2011 in Japan during its earthquake and tsunami?
A better way of assessing the risk of earthquakes and tsunamis would be the straightforward (but tedious) task of mapping your supply chain all the way back to raw materials. That map ensures you are aware of every step along the way which will explain your risks a lot faster as opposed to crunching huge numbers to evaluate your risks.
Having more information is useful for better calculating financial impact of those risks, however good ol’ fashion common sense and leg work will go a long way toward mitigating risk.
What do you think of big data?