The amount of data that exists within an organization keeps growing and researchers have marked its growth pattern close to exponential. As the organization grows, different personnel need access to the appropriate information so they can make the best operational and maintenance decisions for their organization. Not only this but some departments close the loop by integrating the feedback coming coming back from the system as input to the next cycle of operations to ensure better performance than last cycle – leading to continuous improvement.
But even before the data is collected, it is more important for the leadership to decide the future goals and targets for progress of an organization. Today, organizations while defining the long term strategy for progress, set priorities primarily in the following focus areas but not limited to:
- Asset Performance Management
- Energy Management
- Personnel Productivity Enhancement
- Waste Reduction
- Environment / Compliance
- List goes on…
In today’s world your data is an asset. How effectively you use it is a make or break deal when it comes to efforts for maintaining a ‘Sustainable Business’. Your data could be your eyes and ears for your business. Interestingly, organizations can start collecting and integrating readily accessible data without investing significantly. They can tap into all critical business operations and maintenance areas and open new horizons for progress. To make sure, you are not missing the opportunity to progress just because you did not realize what wonders data could do.It is strongly recommended that you define a clear strategy for progress keeping in mind the enterprise wide data. So, the top 3 areas where data can propel your business progress are:
- Utilizing organization’s data in decision making, or
- Converting data to information helping in measuring performance in any of the above stated ‘focus areas’ , or
- Controlling the production and maintenance operations to stay within or improve further on established performance benchmarks.