Harnessing The Power Of Data In Industry

“Our lives revolve around the data” Albert Einstein

What comes to one’s mind over the word “Data”? Data is a nucleus of business, a heart of process, blessing in a disguise for any industry seeking leap of improvement & sustainability. Everything around us in the charming universe is either generating data or being put in place on the basis of data computation. From our cell phone to megaprojects, data is the medium through which correspondence is being made. Let us have a brief look over how global giants are treating their data,

  • Facebook is analyzing and storing trillion of data by using big data analysis technique as a primary input.
  • Amazon is analyzing a terabytes of data on weekly basis to monitor the customer portfolio, of which products they are mostly buying and then luring them into buying more by offering a specific discount over the same items.
  • Nike ID is taking a sports world by storm. A person sitting whether in Asia or Africa can order online any product one wants. Behind the stage, thousands of big data analysis techniques are in action suggesting customers with alternative product by using algorithms databases.
  • Uber is a world’s largest car service, valued at more than $50 billion dollar. It might take you y surprise they do not own a single taxi and just by using an informative data regarding customers are enhancing their systems.
  • Wifigen system developed by Pakistani Entrepreneur, valued at multimillion dollar, is allowing brands to offer free Wi-Fi to their customers on the basis of their information which will be encrypted in the form of data.
  • Google is a huge world in itself, analyzing and screening tons of data in daily database to keep up with their customers.
  • Big marts like Walmart’s & Tesco are using customer’s pattern within their area to predict the placing of items in a best possible manner i.e.: in a nearby psychological shelf for customers.

With this said, one cannot that deny data is pervading day by day globally

Pakistan Industry and Data

Now, where do our industries stand in the context of data? Both of our manufacturing and service sector are working in a gradual progressive manner. But, unfortunately, not much attention is given our data base knowledge. So, how can we benefit from the subject?

“Data is simply a collection of information as a result of some process.” It is constantly generated from the very start of each shift and till the end of it. For the starters, SOP’s can be established keeping in an account the size & corporate objective, in order to ensure the effective utilization of generated data.

  • What we have to do is to establish the standards of capturing data out of customer database, vendor database, raw material, productivity patterns and customer order placing trends. In short, industries must develop certain KPI’s against particle output. Then, data will eventually lead you to the process area showing malfunctioning.
  • Make your data work for you by enabling the staff of how to measure it and then translate into the key indicators.
  • After collecting sufficient data in the daily basis, by having a data analyst team as per the size of company will breathe rat into fragmented sections to design the dashboard, making it easier for top management to have a bird eye view of whole system rather than going through the series if crunching numbers.
  • Getting done with data analysis ad dashboard presenting, only require a one-step as successor i.e.: development of small process improvement teams (kaizen teams).
  • The kaizen teams will study the affected process by going in-depth and will propose a countermeasure which will serve as a benchmark for the future anticipate failures.

List go on & on with data perks but article summarization can be done as

“Those (Industries) who can make data work for them, will eventually become a global leader”

P.S: In our consulting projects, resistance to embrace the importance of data & effectively utilizing it has been the major bottleneck for organizational growth. It is a need of the time, being an underdeveloped country, to streamline our industrial processes with the current technological & analytical frameworks.

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