Data is at the heart of manufacturing. It always has been and the need to understand, analyze and optimize data sets across the industry is not a new concept. However, with the proliferation of digital technologies, as well as the growing importance of AI and ML, the collection and application of data has taken on added significance. Harnessing data from both inside and outside the factory offers many benefits to manufacturers and without reliable data management practices, they will rapidly lose their competitive edge.
In the current manufacturing landscape, data and digitalization are inextricably linked. Essentially, data has the power to uncover efficiency benefits, tap into emerging trends and identify customer behaviors and demands. This translates to organization-wide gains capable of supporting operations on a global scale. Yet, having the data is just one part of this puzzle. The true advantage of data comes from understanding the value it can offer, and one way to enable this is by standardizing systems.