Using Data to Build a Big Picture of Your Manufacturing Firm
As technology advances, data is becoming more and more readily available. While most manufacturers understand that data is available and can be put to good use, they struggle when it comes to figuring out how to do so. In a recent Forbes article, author Lisa Caldwell offers advice on how to use data as a tool to enhance manufacturing operations.
Due to the nature of their work, manufacturers have generally had access to more data than many other industries. One of the issues they face, however, is determining which data to use, and how. Additionally, they need to figure out how to turn their data into actionable insights and use it in a way that has a wider-reaching impact.
Caldwell recommends that manufacturers focus on creating an integrated plan for analyzing and interpreting their data. She explains that the plan should not be focused on a particular area of the business, but rather should be holistic. For example, rather than only examining problems from an internal perspective, they should also consider analyzing from their customers’ perspective. The key is to use data as a tool to develop a more encompassing big-picture view of a manufacturing operation.
For more details, read the article in full at Forbes.