Becoming a data-driven organisation to optimise performance
-Adam Sharmer, senior partner, Dsifer As the pace of digital innovation accelerates, and organisations look to exploit the financial and strategic advantages of digital technology, automation and AI, data is increasingly becoming the lifeblood of organisational decision ecosystems. Whilst the collection and analysis of data to inform operational decision-making is not a new concept, advances in connectivity of technology, AI and machine learning as well as ERP and MES solutions have driven exponential gains in the availability, quality, and integration of data in manufacturing organisations. Spend a few moments on LinkedIn and its easy to become overwhelmed by the level technology available and the visions of possible futures available through its adoption. However, whilst there is no doubt that Industry 4.0 technologies represent a potential step-change in manufacturing performance, the reality is that the CAPEX required for investments in, for example, lights-out warehousing or production automation, is beyond the reach of a lot of organisations. As a result, the journey from current state to the Industry 4.0 utopia can seem like an insurmountable one. The good news is that, whilst strategic adoption of technology should be on the business plan for all organisations if they are to remain competitive, there is a lot of value that can be unlocked with the current context or with low levels of investment. In our experience, most organisations have increased their maturity in the collection and storage of data in all or most organisational processes. However, the true value of this data is not yet being realised. A deliberate focus on process, system, analytics and cultural dimensions to become a data-driven organisation, can unlock the latent value in current systems and data and build the foundation from which to optimise I4 technology. From our experience, data-driven organisations share the following characteristics: They collect […]