Data-based decisions

Industry 4.0 is in the news and companies in every sector are becoming aware of the terminology. Its potential for improving productivity is immense. But we must remember that this concept includes dozens of very different technologies, each with different implications and results. The challenge for industrial companies is to understand the possibilities for their business in detail and draw up a plan to transform production processes step by step.

Let’s think for a moment about the high volume of data generated by companies. Data about customers, suppliers, productivity, human resources... Information that, in many cases, is not integrated into all business departments so there is no overall vision or, what is worse, it is not even digitized. Both weaknesses stall decision making and/or can lead to wrong decisions. And in this new digital ecosystem, data is the raw material of Industry 4.0.

The Covid-19 pandemic has shown us the importance of making decisions that are based on objective and accurate data. The reliability and quality of said data is fundamental and we must know exactly which data to use in order to justify decisions and add value. But we can’t just use any old data.