Organizations are inundated with a plethora of data at hand that if analyzed accurately can help them gain a competitive edge. Whether it is product and process data or application data, the data unit is no longer the GigaByte and TeraByte, but PetaByte.
Challenges to Transition from One Phase to Another
The tools and experienced people to analyze this voluminous data are some of the challenges that organizations face. Moreover, poor data quality and data silos are costing organizations millions, while creating data governance and regulatory risks. To overcome these challenges, organizations need to have the ability to create a customer DNA from this petabyte of data and effectively harness it in a meaningful way.
With a multitude of technologies available today, organizations need to identify the right technology solution that can provide a company in any industry with a solid foundation and help deliver the desired results, while keeping the bottom line ticking.
Benefits of Product Data Management Solution
- Understanding customer needs
- Improving productivity and service quality
- Predicting and preventing errors, risks, and costs
- Finding the correct data quickly
- Reducing cycle time
- Meeting business and regulatory requirements
- Optimizing operational resources
- Providing the visibility needed for better business decision-making
- Faster Response Time and Problem Resolution
Driving the data agenda needs to be a priority for companies big and small. They have to charge their marketing arsenal to gain improved business insights. A number of startups, such as Uber and Netflix, have effectively used data to improve their customer base by understanding their needs and problems.
However, to leverage the use and analysis of this data, the idea is not to acquire volumes of data, it is to collect high-quality and accurate data and connect it for generating value from big data.
Best-in-Class Solution for Product Data Management (PDM)
Integrating with PROLIM’s PDM solutions makes data available across the enterprise as well as to supply chain partners and fully integrates it with part and BOM structures.
Our Product Data Management system offers a systematic approach for creating, managing and reusing BOM management structures, product quotation, document management and graphical change workflow. You can provide accurate and reliable data to:
- Improve productivity and product innovation
- Reduce product costs
- Improve change coordination
- Develop better products faster
The world of technology is changing fast. Are we ready to meet this changing process? Are we tracking our data the right way? Is this data secure? Are we ready for tomorrow?
Just like DNA mapping, organizations need to build a data DNA blueprint, along with a capable team that can collect, curate and extract marketing insights to make a business strategy that can help gain a competitive edge. Organizations need to unlock the potential of this huge unrecognized data. Future-proof your organization, make data a part of you DNA by laying more emphasis on innovating operations and see how you can benefit from it.
Therefore, anything that has the potential to improve the quality of data is something I am thoroughly fascinated by and support.