In today’s ultra-competitive global economic environment, business processes have become more complex. New technologies are producing an overwhelming amount of data that requires real-time monitoring and processing and optimized decision making capabilities.
These advancements in data exchange as well as automation are creating new opportunities for business growth and transformation, but they are also creating new challenges. Indeed, even as businesses have realized dramatic improvements in operational performance, production quality and speed of their production, and customer satisfaction levels, the complexity of managing a large network of operations and difficulty in analyzing vast amount of data generated by business activities have emerged as new industrial challenges. Companies that are utilizing optimization solutions not only for core operational activities, but also for decision making processes have achieved a significant edge over their competitors.