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Big data creates incredible business opportunity
Industrial Equipment companies generate vast amounts of data "in the rough" that can become an invaluable diamond, a powerful tool to make better business decisions, facilitate innovation and align more closely with customers. But without the ability to access this data in context and in real time, it just remains buried in the mine.
So often much of the data is unstructured and stored in disconnected databases making its accessibility and interpretation difficult. Extracting hidden value from the data is about more than just storing it all in one place. It’s about the ability to accurately and intuitively analyze the data to generate actionable insights that support business objectives in a timely manner.
To achieve this speed and accuracy, Industrial Equipment companies are investing in the latest generation of business platform and analytics tools to create a real-time vision that allows them to quickly respond to customers’ demands.
Seeing and knowing your big data
Storing data in one place provides a single version of truth. It enables everyone to collaborate using the most current version of information throughout the entire product development lifecycle. The extended business ecosystem contributes and consumes information from this data lake to ensure consistency, avoid duplication and reduce the risk of using out-or-date information or repeating the same errors.
Data continuity expedites the product development process with your customers by using information that’s statistically meaningful, allowing you to make informed business decisions.
This in turn leads to productivity gains, making the right information available at the right time. All functional areas can synchronize their activities so that they can immediately have access to and use information. Customer-perceived product quality is improved when supportability is addressed early in the product’s life.