Manufacturing 4.0 Data Mastery
The right digital technologies, talent, and engagement multiplies performance, says ML Award winner Nilo Caravaca.
Manufacturers see data’s massive potential to improve operations, predict disruptions, and bring about new revenue streams, but realizing that promise continues to be a work in progress.
In 1991, Geoffrey Moore published his seminal book on high tech marketing called “Crossing the Chasm”. Moore’s thesis was that there is a gap, or chasm, between early adopters of a high technology product and the mainstream early majority.
Having access to a lot of data might make an organization smart, but extracting insights from that data and applying it to business decisions will make an organization truly intelligent.
Most manufacturers tend to view the value of their data in terms of its use in optimizing operations. But by managing data as a strategic business asset, its value could be much greater.
Devising a methodology to manage, store, and leverage data is now the principal challenge for manufacturers in the digital age.
Many manufacturers find that collecting data is no great challenge, but an improper foundation of architecture, governance, and analytics can make it hard to put that data to use.
Data strategies and next-generation tactics will help organizations embrace the new decision-making framework they need to fully operationalize data insights.
To truly harness data, we need to capture it, control it, understand it, and convert it to action.
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