MHI Solutions - Volume 6, Issue 2 - 155

STANDARDS

Will Big Data Help Us Predict
the Future?
BY PATRICK DAVISON, MHI DIRECTOR OF EDUCATION AND STANDARDS

I

t's spring and the start of the 2018
Major League Baseball season. With
the start of the new season comes
the pundits' predictions of who will
win the World Series in October. Even
though the season hasn't begun yet,
the so-called experts are predicting the
Dodgers as five-to-one favorites to win
it all in 2018, followed by the Indians
and Astros at six-to-one. But how confident can we be in their predictions?
How confident are the experts in their
predictions? And what information did
they use to make their predictions, and
would they be able to make better predictions with more data?

More importantly, what does this
have to do with Material Handling &
Logistics U.S. Roadmap 2.0?
According to the Roadmap, "Big
Data," is predicted to shape everything
from final-mile routing to long-term
infrastructure planning to freight forwarding to ultimate decision-making
to network optimization, all of which is
anticipated to improve forecasting. GE's
Jeff Immelt was reported to postulate,
"the marriage of Big Data analysis and
Industrial engineering promised a nearly
unimaginable range of improvements."
The promise of Big Data will almost
certainly help transform our industry

and help bring about new technologies,
such as autonomous vehicles. But how
much of those "improvements" will
actually help to predict future activities? Will more data computation capabilities help us make better forecasts, or
simply provide us with more confidence
in the forecasts we would have otherwise made with existing data?
For that matter, the Material
Handling Logistics Roadmap 2.0 is a
prediction of the state of material handling and logistics in the year 2030.
How accurate should we think our
predictions are, and would additional
data have resulted in better predictions?

THOMAS ANDREAS/SHUTTERSTOCK.COM

www.mhi.org

*

MHI SOLUTIONS

155


http://www.mhi.org

Table of Contents for the Digital Edition of MHI Solutions - Volume 6, Issue 2

CEO Update
3-Step Checklist for Addressing the Supply Chain Skills Gap
Beyond Analytics
Women Rising
People Are at the Center of the Robotics Revolution
Acing ‘The Basics’ of Business
Bridging the Skills Gap
Millennials and GenZ: The Key to Future-Proofing Your Supply Chain Workforce
Identifying Talent
Attracting and Retaining Top Supply Chain Talent
Consider Sustainability When Choosing Your Next Forklift Power System
CTE Program: Students, Instructors Benefit from Student Days Participation
Industry Focus: Intermodal
Education and Industry: An Ecosystem Mindset
2018 MHI Innovation Award Finalists
MODEX 2018
Economic Market Analysis
Safer Handling
Fulfillment Update
Product/Solutions Spotlight
Scholarship Winners: Where Are They Now?
Inside MHI
Will Big Data Help Us Predict the Future?
MHI News
Calendar
Index of Advertisers
MHI Solutions - Volume 6, Issue 2 - Intro
MHI Solutions - Volume 6, Issue 2 - cover1
MHI Solutions - Volume 6, Issue 2 - cover2
MHI Solutions - Volume 6, Issue 2 - 3
MHI Solutions - Volume 6, Issue 2 - 4
MHI Solutions - Volume 6, Issue 2 - 5
MHI Solutions - Volume 6, Issue 2 - 6
MHI Solutions - Volume 6, Issue 2 - 7
MHI Solutions - Volume 6, Issue 2 - 8
MHI Solutions - Volume 6, Issue 2 - CEO Update
MHI Solutions - Volume 6, Issue 2 - 3-Step Checklist for Addressing the Supply Chain Skills Gap
MHI Solutions - Volume 6, Issue 2 - 11
MHI Solutions - Volume 6, Issue 2 - 12
MHI Solutions - Volume 6, Issue 2 - 13
MHI Solutions - Volume 6, Issue 2 - 14
MHI Solutions - Volume 6, Issue 2 - 15
MHI Solutions - Volume 6, Issue 2 - 16
MHI Solutions - Volume 6, Issue 2 - 17
MHI Solutions - Volume 6, Issue 2 - Beyond Analytics
MHI Solutions - Volume 6, Issue 2 - 19
MHI Solutions - Volume 6, Issue 2 - 20
MHI Solutions - Volume 6, Issue 2 - 21
MHI Solutions - Volume 6, Issue 2 - 22
MHI Solutions - Volume 6, Issue 2 - 23
MHI Solutions - Volume 6, Issue 2 - Women Rising
MHI Solutions - Volume 6, Issue 2 - 25
MHI Solutions - Volume 6, Issue 2 - 26
MHI Solutions - Volume 6, Issue 2 - 27
MHI Solutions - Volume 6, Issue 2 - 28
MHI Solutions - Volume 6, Issue 2 - 29
MHI Solutions - Volume 6, Issue 2 - 30
MHI Solutions - Volume 6, Issue 2 - 31
MHI Solutions - Volume 6, Issue 2 - 32
MHI Solutions - Volume 6, Issue 2 - 33
MHI Solutions - Volume 6, Issue 2 - 34
MHI Solutions - Volume 6, Issue 2 - 35
MHI Solutions - Volume 6, Issue 2 - People Are at the Center of the Robotics Revolution
MHI Solutions - Volume 6, Issue 2 - 37
MHI Solutions - Volume 6, Issue 2 - 38
MHI Solutions - Volume 6, Issue 2 - 39
MHI Solutions - Volume 6, Issue 2 - 40
MHI Solutions - Volume 6, Issue 2 - 41
MHI Solutions - Volume 6, Issue 2 - Acing ‘The Basics’ of Business
MHI Solutions - Volume 6, Issue 2 - 43
MHI Solutions - Volume 6, Issue 2 - 44
MHI Solutions - Volume 6, Issue 2 - 45
MHI Solutions - Volume 6, Issue 2 - 46
MHI Solutions - Volume 6, Issue 2 - 47
MHI Solutions - Volume 6, Issue 2 - 48
MHI Solutions - Volume 6, Issue 2 - 49
MHI Solutions - Volume 6, Issue 2 - Bridging the Skills Gap
MHI Solutions - Volume 6, Issue 2 - 51
MHI Solutions - Volume 6, Issue 2 - 52
MHI Solutions - Volume 6, Issue 2 - 53
MHI Solutions - Volume 6, Issue 2 - 54
MHI Solutions - Volume 6, Issue 2 - 55
MHI Solutions - Volume 6, Issue 2 - Millennials and GenZ: The Key to Future-Proofing Your Supply Chain Workforce
MHI Solutions - Volume 6, Issue 2 - 57
MHI Solutions - Volume 6, Issue 2 - 58
MHI Solutions - Volume 6, Issue 2 - 59
MHI Solutions - Volume 6, Issue 2 - 60
MHI Solutions - Volume 6, Issue 2 - 61
MHI Solutions - Volume 6, Issue 2 - 62
MHI Solutions - Volume 6, Issue 2 - 63
MHI Solutions - Volume 6, Issue 2 - 64
MHI Solutions - Volume 6, Issue 2 - 65
MHI Solutions - Volume 6, Issue 2 - Identifying Talent
MHI Solutions - Volume 6, Issue 2 - 67
MHI Solutions - Volume 6, Issue 2 - 68
MHI Solutions - Volume 6, Issue 2 - 69
MHI Solutions - Volume 6, Issue 2 - 70
MHI Solutions - Volume 6, Issue 2 - 71
MHI Solutions - Volume 6, Issue 2 - Attracting and Retaining Top Supply Chain Talent
MHI Solutions - Volume 6, Issue 2 - 73
MHI Solutions - Volume 6, Issue 2 - 74
MHI Solutions - Volume 6, Issue 2 - 75
MHI Solutions - Volume 6, Issue 2 - 76
MHI Solutions - Volume 6, Issue 2 - 77
MHI Solutions - Volume 6, Issue 2 - 78
MHI Solutions - Volume 6, Issue 2 - 79
MHI Solutions - Volume 6, Issue 2 - Consider Sustainability When Choosing Your Next Forklift Power System
MHI Solutions - Volume 6, Issue 2 - 81
MHI Solutions - Volume 6, Issue 2 - 82
MHI Solutions - Volume 6, Issue 2 - 83
MHI Solutions - Volume 6, Issue 2 - 84
MHI Solutions - Volume 6, Issue 2 - 85
MHI Solutions - Volume 6, Issue 2 - CTE Program: Students, Instructors Benefit from Student Days Participation
MHI Solutions - Volume 6, Issue 2 - 87
MHI Solutions - Volume 6, Issue 2 - 88
MHI Solutions - Volume 6, Issue 2 - 89
MHI Solutions - Volume 6, Issue 2 - 90
MHI Solutions - Volume 6, Issue 2 - 91
MHI Solutions - Volume 6, Issue 2 - 92
MHI Solutions - Volume 6, Issue 2 - 93
MHI Solutions - Volume 6, Issue 2 - Industry Focus: Intermodal
MHI Solutions - Volume 6, Issue 2 - 95
MHI Solutions - Volume 6, Issue 2 - 96
MHI Solutions - Volume 6, Issue 2 - 97
MHI Solutions - Volume 6, Issue 2 - 98
MHI Solutions - Volume 6, Issue 2 - 99
MHI Solutions - Volume 6, Issue 2 - Education and Industry: An Ecosystem Mindset
MHI Solutions - Volume 6, Issue 2 - 101
MHI Solutions - Volume 6, Issue 2 - 102
MHI Solutions - Volume 6, Issue 2 - 103
MHI Solutions - Volume 6, Issue 2 - 104
MHI Solutions - Volume 6, Issue 2 - 105
MHI Solutions - Volume 6, Issue 2 - 106
MHI Solutions - Volume 6, Issue 2 - 2018 MHI Innovation Award Finalists
MHI Solutions - Volume 6, Issue 2 - 108
MHI Solutions - Volume 6, Issue 2 - 109
MHI Solutions - Volume 6, Issue 2 - 110
MHI Solutions - Volume 6, Issue 2 - 111
MHI Solutions - Volume 6, Issue 2 - 112
MHI Solutions - Volume 6, Issue 2 - 113
MHI Solutions - Volume 6, Issue 2 - 114
MHI Solutions - Volume 6, Issue 2 - 115
MHI Solutions - Volume 6, Issue 2 - 116
MHI Solutions - Volume 6, Issue 2 - 117
MHI Solutions - Volume 6, Issue 2 - 118
MHI Solutions - Volume 6, Issue 2 - 119
MHI Solutions - Volume 6, Issue 2 - 120
MHI Solutions - Volume 6, Issue 2 - 121
MHI Solutions - Volume 6, Issue 2 - 122
MHI Solutions - Volume 6, Issue 2 - 123
MHI Solutions - Volume 6, Issue 2 - 124
MHI Solutions - Volume 6, Issue 2 - MODEX 2018
MHI Solutions - Volume 6, Issue 2 - 126
MHI Solutions - Volume 6, Issue 2 - 127
MHI Solutions - Volume 6, Issue 2 - 128
MHI Solutions - Volume 6, Issue 2 - 129
MHI Solutions - Volume 6, Issue 2 - 130
MHI Solutions - Volume 6, Issue 2 - 131
MHI Solutions - Volume 6, Issue 2 - 132
MHI Solutions - Volume 6, Issue 2 - 133
MHI Solutions - Volume 6, Issue 2 - 134
MHI Solutions - Volume 6, Issue 2 - 135
MHI Solutions - Volume 6, Issue 2 - 136
MHI Solutions - Volume 6, Issue 2 - 137
MHI Solutions - Volume 6, Issue 2 - 138
MHI Solutions - Volume 6, Issue 2 - 139
MHI Solutions - Volume 6, Issue 2 - 140
MHI Solutions - Volume 6, Issue 2 - Economic Market Analysis
MHI Solutions - Volume 6, Issue 2 - 142
MHI Solutions - Volume 6, Issue 2 - Safer Handling
MHI Solutions - Volume 6, Issue 2 - 144
MHI Solutions - Volume 6, Issue 2 - 145
MHI Solutions - Volume 6, Issue 2 - Fulfillment Update
MHI Solutions - Volume 6, Issue 2 - 147
MHI Solutions - Volume 6, Issue 2 - 148
MHI Solutions - Volume 6, Issue 2 - Product/Solutions Spotlight
MHI Solutions - Volume 6, Issue 2 - 150
MHI Solutions - Volume 6, Issue 2 - Scholarship Winners: Where Are They Now?
MHI Solutions - Volume 6, Issue 2 - 152
MHI Solutions - Volume 6, Issue 2 - Inside MHI
MHI Solutions - Volume 6, Issue 2 - 154
MHI Solutions - Volume 6, Issue 2 - Will Big Data Help Us Predict the Future?
MHI Solutions - Volume 6, Issue 2 - 156
MHI Solutions - Volume 6, Issue 2 - MHI News
MHI Solutions - Volume 6, Issue 2 - 158
MHI Solutions - Volume 6, Issue 2 - 159
MHI Solutions - Volume 6, Issue 2 - Calendar
MHI Solutions - Volume 6, Issue 2 - Index of Advertisers
MHI Solutions - Volume 6, Issue 2 - 162
MHI Solutions - Volume 6, Issue 2 - cover3
MHI Solutions - Volume 6, Issue 2 - cover4
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