Part 6/11:
He also highlights that a flexible approach is crucial. For instance, in sectors like biotechnology or pharmaceuticals, where product cycles are long, integrating new analytical methods such as image analytics or protein folding models can still be strategic, enabling shorter cycle times and enhanced discovery.
Case Study: From Demand Forecasting to Predictive Maintenance
A compelling example shared is Latent View’s work with a device manufacturing giant. Initially approached for demand forecasting of components in printers and consumer electronics, the project evolved into a predictive maintenance solution.
- Initial Focus: Building models to predict when parts might fail, based on sensor and usage data, to optimize spare parts inventory and response times.