Big data – are manufacturers ready for the challenge?

The adage 'information is wealth' has never been as apt as it is in the current 'Big Data' environment. Today with data capture at every conceivable point, data volumes are massive and constantly increasing as a result of extensive customer response studies, marketing, and greater research and development operations.

Since data is more or less in digital format today, the information extracted from it is more accurate and current. In manufacturing companies, the implications are huge. Storing and collection of data in digital form enables accurate demand and operation cost forecasting, product inventory tracking and even facilitates labour performance management. Real time competition analysis helps a manufacturer be aware of new and improved production techniques or best practices. After sales care and customer support substantially enhance customer satisfaction levels. These activities can be supported with real time analysis done on customer experience, difficulties faced and future trends.

My recent paper talks in detail about the exciting new world of big data that is definitely a boon to the manufacturing industry. However, maintaining and interpreting big data requires specialized skills and significant investment in technology and standardizing of data and processes. Will manufacturers be able to transition to big data successfully? The answer to that question will become clearer over the next few years…

About the Author

Paul Mathai is the Applied Research Lead for Manufacturing and Hi-Tech SBU of Wipro Limited. He is an avid blogger.

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