The faster path from data to decision for manufacturers
Harnessing information effectively is key to sustained growth
Data is the thread that runs through virtually every conversation today about the future of manufacturing, from the potential uses of machine learning to the broader capabilities of factories of the future, to what the workforce will look like in years to come. Manufacturers generate incredible amounts of data from their internal operations, from their supply chain and from their customers. Harnessing that information effectively is the key to smooth operations, efficient delivery of products and services to customers, and sustained growth.
A data-driven organization is one that has moved up and across the data and analytics maturity model. It uses the information that it generates not just to describe what has happened in the business and the world around it, but also to predict what will happen and to have people, systems and processes in place to make automated, intelligent decisions to guide next actions.
However, manufacturers often find themselves unsure exactly what it means to be a data-driven company and feel a lack of clarity around where to focus when it comes to setting themselves up for success guided by data. To be able to take full advantage of the data they generate and collect, organizations need to focus on three foundational areas: data and system architecture, data governance, and data analytics, both traditional and advanced. Senior leadership must make sure that teams across the company share the same business definitions for categories of data and individual data elements so that people and systems can communicate effectively with one other.
Written by RSM professionals and originally published in the Manufacturing Leadership Journal, read about how companies can implement the critical underpinnings of data-fueled efficiency and awareness.
©2021 Manufacturing Leadership Council, a division of the National Association of Manufacturers. All rights reserved.
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