Whatever advanced technologies manufacturers adopt, transformational success
will ultimately depend on data, from powering the latest digital tools to
delivering more value, to transforming operating systems that react in real-time
to challenges in the workplace.
Understanding the underlying power of data to fuel the advanced digital tools
now available, and having resources in place to manage data, is the real reason
why digitalization is helping drive greater efficiencies, resiliency, value, and
sustainability, for both internal operations and entire manufacturing value
chains.
A study from the Data and Marketing Association (DMA) found that 75% of
businesses waste an average of 14% of their revenue on poor data quality,
amounting to a staggering £197.788 million annually. This figure highlights the
economic impact of low-quality data. Yet, the cost is not just financial; there
is also an operational cost. Inefficient data leads to wasted time, with
employees spending up to half their time dealing with data quality issues.
This Breakfast seminar will focus on how you can develop your internal resources
to manage data already being gathered by your processes and/or machines in order
to improve productivity, reduce operating costs, react to issues in real time,
and control critical operations. For more information, please contact us at
Compete@cforc.org [Compete@cforc.org]