Comments on a Wall Street Journal Article: The Benefits of Data Talking to Data Companies have been collecting business related data in various forms for decades. It used to be that collected information was sorted and stored in giant databases collecting virtual dust until needed and analyzed using business intelligence software. This data was not always useful – often dependent upon on when it was analyzed and read. Thus the information was not always timely. Organizations realized that they were making decisions based on ‘stale’ data instead of using information as it happens.
This is what is happening now with infrastructure and technology to ‘stream’ live data, integrated with advanced data analytics systems and techniques coupled with delivering the relevant and appropriate information to the right person in a format that is conducive to effective decision making. This allows companies to link multiple stakeholders, both internal and external, to what is happening now. This is data talking to data in real time.
Many industries improve their operational efficiencies, foster better customer and supplier relationships and improve customer satisfaction and retention by utilizing these technologies. Nowhere is it more relevant than in the advanced manufacturing and supply chain of the electronics industry, as more markets around the developing world have increased their appetite for better, faster and more advanced devices. This demands newer products faster and cheaper. Therefore, the electronics manufacturing sector has embraced real time management using systems to effectively and efficiently manage tasks that are cross-functional in nature and involves both outside manufacturing and global supply chain. Below is a great example that illustrates this real time data management.
Let’s say at the final assembly of a product, a critical problem that could cost the reputation of the product is discovered. Initial triage of the deviation finds the problematic part and a full investigation that includes the supplier of the offending part is implemented. This leads to an amended inspection process, a corrected method for final packaging of the part and training of the personnel at the final assembly site. While this process goes on, another factory is notified of the findings, resolution and new processes while another group analyzes the previously completed lots for any anomalies by way of sample testing. All these steps go on in near real time while making sure the information is processed while maintaining the proper yields and minimizing errors – leading to higher quality output to the hands of the customer.
This example is just the tip of the iceberg and helps illustrate why electronics and high tech manufacturing put trust into TrackWise Enterprise Quality Management Solutions. It’s a platform that is integrated with their ERP, MES, CRM, SCM and other enterprise pillar applications, which helps them produce the high quality, safe products their customers expect, while increasing operational efficiency that yield greater revenue and profits to the shareholders.
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Source: Wall Street Journal, 04/02/2012