Chris Jones, CEO of Actify, discusses why it is critical for manufacturers of all sizes to have a digital strategy to consume, visualize and act on big data during an episode of Beyond 3D Podcast.
It’s not a question of “should I do this” but rather “when and how will I do this?” Relational databases just don’t cut it anymore – the massive amounts of data being generated need to be able to be mined for specific things, visualized and acted upon quickly and easily. Modern graph database technology is getting there, and is more accessible to manufacturers of all sizes – yes, even the small guys.
Listen to the episode below – Having a digital strategy for big data is critical
“Overall the stats and the estimates are that only 10% of all this data that we’re collecting is being a) collected, and then b) collated. In the manufacturing industry we’re down 1 or 2%. I think there’s opportunities in all industries but particularly in manufacturing companies because they’re also producing a lot more data from their products on how it’s used and so on and so forth, warranty issues and wear and tear. They’ve got all this information but I just don’t think it’s being used. What’s also happened is that I think engineering as a profession has certainly not been the favorite occupation for the brightest and smartest coming out of universities. There’s a huge shortage of engineers world wide and particularly in the U.S.
The challenge going forward I think is this … You’ve got these two opposing forces that need to be solved. You’ve got this wealth of information that is being produced and then how best to use it with far fewer people. I think going forward this is going to be a real challenge for the industry in general. As I said before, it’s not just big sophisticated products and consequently not just big organizations, it’s also small to medium companies as well that face this challenge of how best to use this information because if they don’t somebody will and somebody will gain a competitive advantage from it I’m sure.”
Chris Jones’ challenge to our listeners: “I think if you’re a company that doesn’t have a digital strategy on how best to use the information that’s been produced now that you have within your organization, the historical information and the information that is almost certainly going to be flowing into your organization over the next couple of years, you seriously need to sit down and think about it. This is a big strategic initiative and it needs executive input I think on how best to move forward to make use of data going forward. It’s going to be a competitive advantage for sure.”