This contributed story by Dr. Michael Feindt, strategic advisor with Blue Yonder, originally appeared in Forbes on Nov. 29, 2021. Excerpts from the story below. To see the full story

“Our database is perfect.” This is a common phrase shared by proud C-level executives who feel firmly on top of their information as they look to embark on their artificial intelligence (AI) and machine learning (ML) journeys.

However, what they often mean is something quite subtly but substantially different. What they really mean is: “Our data is perfect today.”

As a single point of visibility, and in its current state, there is a notion that predictions — or targets — feed off that accurate representation of price points, stock levels or sale levels at that moment in time. The significant aspect they’re forgetting is that those forecasts about the future can only really work if they have an evolution of data to work with. A history. An archive.