In this view of data strategy, defensive activities are centered on minimizing risk and include activities like regulatory compliance, detecting fraud, preventing theft, and insuring the accuracy of the data. Meanwhile, the offensive activities are most often customer-focused and include data analysis and modeling to inform customer retention or acquisition strategies and support financial decisions.
Data is a critical element of just about any type of business today, yet so many businesses treat data management as a secondary concern. It may be possible to manage and run a business without good data management, however, we find that managing a business is a lot easier if data is properly collected, stored and used.
The small and midsized manufacturers we work with understand the need to update their manufacturing and supply chain processes. Our clients are pressed for resources, especially time. needed to make sweeping changes to take full advantage of newly affordable manufacturing technology.
Raw data is of little value to a business, until it is turned into information. Information isn’t much more valuable, until it used to enable knowledge. Then you have something to really useful to work with, to differentiate from your competitors, to operate smartly and profitably.
Industry 4.0 -- Automated processes that are real-time integrated through continual data exchange between machines, applications and businesses. “Smart” factories are born from this, together with a transition from manufacturing just products to creating valuable services tied to those products.
Employees commonly circumvent an ERP system by using Excel or other tools. Manufacturers should understand the main reasons this happens in order to mitigate what amounts to risky workarounds.
Technical debt is a common term within IT circles but largely unheard of outside IT. This shouldn’t be the case. Accumulating too much technical debt has become a significant corporate risk that warrants senior management attention.
This October, a “Not Secure” warning will be displayed in Google’s Chrome browser on any HTTP page a visitor types information into or accesses in Incognito Mode This will negatively impact millions of HTTP web pages until the pages are converted to HTTPS.
No doubt, information overload has become a big problem. No company is immune to it. And no company can avoid a future of exponential increases in the amount of data created and collected. Therefore, it’s no longer a matter of if, but when, a serious plan to manage it all should be developed.
Many executives fear the thought of being dead wrong when making a big decision. It's human nature. So paralyzing is the concern for some people that the decision never gets made.