Big Data: Datalogic Predicts Growth In Advanced Data Collection As Business Analytics Systems Drive Need For More Data And Innovation
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.
About Datalogic ADC
Datalogic ADC, the world leader in Automatic Data Capture, offers state of the art solutions with fixed position retail scanners, handheld scanners and mobile computers. Datalogic ADC’s range includes in-counter and on-counter point of sale scanners, general purpose and ruggedized handheld scanners, rugged mobile computers, industrial PDAs and vehicle mount computers. Solutions for applications in several sectors include healthcare, hospitality/entertainment, manufacturing, retail, services and transportation & logistics.
Businesses in the retail sector can particularly benefit from Datalogic ADC’s vision-based technology solutions, analytical tools, self-shopping solutions and consumer relationship technologies.
A division of the Datalogic Group, Datalogic ADC is headquartered in the US with a presence in over 120 countries.
About Datalogic Group
Datalogic Group is a global leader in Automatic Data Capture and Industrial Automation markets. As a world-class producer of bar code readers, mobile computers, sensors, vision systems and laser marking systems, Datalogic offers innovative solutions for a full range of applications in the retail, transportation & logistics, manufacturing and healthcare industries. With products used in over a third of world’s supermarkets and points of sale, airports, shipping and postal services, Datalogic is in a unique position to deliver solutions that can make life easier and more efficient for people. Datalogic S.p.A., listed on the STAR segment of the Italian Stock Exchange since 2001 as DAL.MI, is headquartered in Lippo di Calderara di Reno (Bologna). Datalogic Group as of today employs about 2,400 members of staff worldwide distributed in 30 countries. In 2012 Datalogic Group achieved revenues for 462,3 million Euro and invested over 32 million Euro in Research and Development with a portfolio of over 1,000 patents across the world. For more information, visit www.datalogic.com.