Big Data and Smart Data
The market research and consulting firm IDC (International Data Corporation) predicts that by 2020, our world will total 40 zettabytes of data. This is an inconceivable number – a 40 with 21 zeros – which IDC estimates to be 57 times the amount of all the grains of sand on all the beaches on earth. But who knows if this prediction, which dates back to 2012, is not already obsolete? How can companies benefit from this vast variety of data? How can they stay on top of it all?
Big Data, massive data sets, provides new opportunities to drive business success as it allows companies to uncover previously hidden patterns and relationships, for example by identifying and addressing the reasons for returns. Or by customizing their offering to meet the changing needs of their customers.
Another possibility is to simulate productions processes to reveal weaknesses beyond the production floor.
The old principle of "the more the better", however, no longer always applies. Because even though the vast resources of computing power available today have made it possible to analyze more data than ever before, there are only a few companies that are able to fully embrace the opportunities of the data they collect. This is because finding and filtering useful data is a complex and time-consuming process. The solution to this is "smart data"!
What We Do
What do companies need to generate smart data? One key is to have a thorough knowledge of the machines and devices they use, in the case of manufacturing companies, for example, this includes the necessary manufacturing expertise. This is best way to discern which data is worth collecting. The second key – and this is an area where many companies are still lacking – is to have a software solution in place that serves as a single point for systematically collecting the data generated, regardless of its source. The third key is ensure the comparability of the selected data in order to connect it with data from other data repositories in an intelligent way that reveals useful and relevant information.
REALTECH can enable you to systematically collect and deliver relevant data and help you interpret, process, and document performance indicators.
Talk to us.