Manufacturing and the data conundrum: Too much? Too little? Or just right?, commissioned by Wipro, examines how manufacturers are using integrated data collection and analysis to improve production throughput, reduce costs and improve quality. The research is based on a survey of 50 C-suite executives from manufacturers in North America and Western Europe.
The survey shows that just 42% of respondents have what they consider to be a well-defined data-management strategy. However, 62% are not sure they have been able to keep up with the large volumes of data they collect, as it comes from too many sources and in a variety of formats and speeds.
The report also finds that while over 90% of manufacturers collect data from monitoring production processes, less than half have in place predictive data analytics, and less than 40% use data analysis to find solutions to production problems.