Being blind is terrifying. Having your business be blind is simply dangerous. What’s the solution? Those dashboards of data you bought? That ‘Big Data’ solution that’s sitting in IT? These are great and they provide points for discussion and debate during board meetings, but more often than not they’re confusing, don’t create action out of insight and rarely are they in real-time. Your board, and company, is still effectively blind.
50% of Manufacturers stress the competitive advantages of analytics, whereas 57% have inadequate technology structures to supply the correct analytics, 35% complain about data quality and only 21% of manufacturers use analytics to a great extent.
Whilst there are huge advantages to having the right analytics for your industry and company, these are rarely realised. Being sold the dream of big data and real-time analytics usually means your board has to sift through pages of dashboards and reports, mining for the 3 or 4 key metrics that actually help make better decisions.
The illuminating solution to this inefficient blindness is to choose a partner that understands your industry KPI’s. Without a partner with the necessary understanding in Manufacturing, you end up with our current situation; technologists feeding technology solutions that are usually only understood by other technologists, to non-technical individuals.
With a partner that understands the KPIs of manufacturing, like real-time stock inventory management, managing margins across the entire customer base and cash flow management, your board can make timely decisions that impact stock levels, quicker turnarounds in production and planning, reduced lead times.
If any of this sounds familiar, then please get in touch! The sooner you can see, the better.