Any manufacturing company that can assimilate data to answer questions regarding their production can benefit from data analytics. Production data analytics can reduce processing flaws, improve production quality, increase efficiency, and save time and money.
Some of the areas where production data analytics can be effectively used are…
- Productivity improvement
- Product profitability / contribution improvement
- Product quality and defects tracking
- Increasing energy efficiency
- Efficient material requirement planning
The range of production data analytics use cases in the manufacturing industry is limited only by available data and imagination. Unless you narrow your query to a specific business challenge that can be revealed by patterns or examples, you won’t get much value from production data analytics.
Just having vast quantities of data at hand for analysis doesn’t mean you can extract the insight you need.