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We are in the midst of a data explosion where every action is collected, from a credit card swipe to the vibration of a factory machine. You have been collecting data for years now, from equipment sensors to workforce information and financials. In fact, as an industry, we are sitting on a goldmine of data but utilize only 3 – 5% of that data.
According to IBM, we create 4.5 quintillion bytes of data from a variety of sources. About 90% of that data is unstructured. How do we make sense of it all, or better yet, transform it into a competitive advantage?
It may seem overwhelming, but Audimation Services can help you navigate a path of success through your data.
Industrial facilities are gathering real-time data from sensors to identify maintenance issues before they impact the workflow and to ensure machinery operates at peak performance. Data can be gathered and analyzed to predict problems before they occur.
Baker Hughes released a case study showing how to go from concept to product in 24 months – rapidly increasing the cycle of innovation time. 3D printing and enhanced data analytics are two innovations that are driving this movement, and the future is coming fast.
Operators and managers are often faced with making tough decisions without data on hand. When it comes to maintaining the equipment on the shop floor, managers often have one of two options; running the machines to failure or using time-based preventative maintenance. Both options have downsides. Run-to-failure means maxing out the life of the machine, which can lead to diminished output capacity or lost time when the machine finally dies. Time-based preventative maintenance maximizes equipment uptime, but the parts replaced could still have life in them.
But what if maintenance and reliability professionals had data that could help them predict and maximize the useful life of their equipment while improving production uptime. Blending the two approaches, informed by data-driven insights, is the gold star for the future of the shop floor.
Affordability and availability of sensors, technology, IoT and network capacity are all factors in making Predictive Maintenance a reality for manufacturers today. Blending capacity with the right technology and analytic know-how makes the dream of Predictive Maintenance a reality.
Understanding your fixed and variable costs compared to your consumption can help the people in your organization who source, plan and manage your resources more effectively in overall operations and in finding ways to conserve costs and negotiate price.
Procurement leaders and managers can identify trends and project parts, supplies and costs based on demand to help the organization better plan for the future, and drive cost efficiencies across the organization.
Inventory Management is hungry for data analytics to move beyond traditional, historical aging methodologies based on purchase/production or sales data. Apply the Lean Manufacturing theory and consider the adequacy or identify surplus inventory based on future projected sales to stimulate your ROI.
According to The Hackett Group Study: Analytics: Laying the Foundation for Supply Chain Digital Transformation, 94% of supply chain leaders say that digital transformation will fundamentally change supply chains in 2018, while only 44% have a strategy ready. Digital transformation brings a wave of data; planning for that data coming from disparate sources can make all the difference on the success of adopting this digital transformation.
Understanding your fixed and variable costs compared to your consumption can help the organization source, plan and manage resources more effectively across the entire operation, in addition to identifying ways to conserve costs and negotiate on price.
Applying data analytics in this transformation has many benefits such as forecast accuracy, identification of demand patterns, better product tracking and traceability, analysis of transportation performance and analysis of product returns just to name a few.
Data analytics can also be used to identify weather risks such as hurricanes, earthquakes or other conditions that might delay transportation routes vital to manufacturing supply chains; having these predictive models, manufacturers can begin to predict potential amount of delays and plan accordingly. Some businesses must prepare ahead of these instances with weather predictive data to ensure they have inventory on hand, resources of staff that might be needed and other ways to better prepare their business by using predictive analytics.
Your data can also reveal the health of your overall company, key initiatives, campaigns, and processes. In industry, some standard metric dashboards can be created using data analytics to track inventory turnover, on-time delivery, scrap percentages and more.
Product managers must make hard decisions about what products to keep, what to lose, how to optimize the management of the product lifecycle, and what features to include for existing products. Data analytics empowers product management with tools that can pull in customer usage and perception data about your product and your brand, along with actual financial and supply chain models to build future products based on insights from your own data.
Keeping data in silos, solely within the confines of a single organization, limits your visibility to the vital lifelines in your company. What business insights can your finance team find from the shop floor? What efficiencies can the shop floor gain in productivity and cost-effectiveness by better understanding the back office? How can procurement better plan and source with up-to-date information on daily production needs? Executive teams can gain key insights across the company by connecting the dots of data across the department within the company. We can help. Putting data analytics to work is what we do best.
Extracting information from data effectively takes an understanding of a key formula that blends technology with data preparation, analysis, reporting and visualization best practices. Whether you want to develop your data analytics practice in-house or leave it to the experts to outsource, Audimation is your trusted partner for all things analytics.
Data can be many things including a source of insights and a source of frustration. The key to unlocking the real value of your data lies in being able to translate data from any source and format into relatable information for your business.
Our process includes a Project History function that tracks the steps we take with your data, therefore nothing is ever lost. Audimation is able to give data quality assurance through this system. You are constantly challenged to operate more efficiently, with fewer resources, yet more output, but how? Audimation specializes in applying analytics to help manufacturers turn raw data into a competitive advantage. Here is how we can help you:
Our team of experts are ready to help you tackle tough challenges and achieve what you never imagined possible. For a limited time, we are offering a complimentary assessment of your data to demonstrate our capabilities and help you achieve rapid results. Contact [email protected] to grab your spot!
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