This post from Deloitte University, first published in February of 2016, discusses ‘data as the new oil.’ It’s a great article that underscores the significance that data can contribute to an organization’s agility and ultimately, competitive position in the market. It also, as they state, is the foundation to the digital transformation that industry is now undergoing.
Think back just a few years if you are in manufacturing. The #cloud, #Internet of Things, even #virtualization were far-off concepts that had little to no relevance in your world. Your goals–keeping your operations running efficiently, avoiding downtime and unexpected conditions–were paramount to your GMP (good manufacturing practices) and digitization mostly meant taking real-time process data from a DCS (Distributed Control System) or PLC (Programmable Logic Controller) and using it with a data historian for process control. The influx of applications such as enterprise manufacturing intelligence, dashboards, and other ‘big data’ systems brought a step change to the way you understood your operations, and the cause/effect of events. Being able to now isolate, or predict, events was huge, and data (and the effective use of it) was the reason for this efficiency.
Now, another step change is occurring. Advanced techniques such as Artificial Intelligence, Machine Learning and Pattern Recognition offer insights into behavior of the assets, people and processes. Data becomes not only oil, it’s gold. It’s the key to your understanding and efficiency.
Falkonry is one of those applications riding the data wave; a window into your process behavior using your resident subject matter experts, along with the data, to provide context and relevancy to that data. See more about Falkonry pattern recognition here.