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Operational Excellence

The Power of Operational Analytics in Supporting Operational Excellence

Quartz Network - IMPACT SUMMIT

Quartz Network - IMPACT SUMMIT

There’s a business mantra that states ‘you can’t manage what you can’t measure’. Reliable, accurate information is imperative to the development of a successful business strategies and Operational Excellence is no different.

Collecting the data itself is not enough and businesses can sometimes find themselves in a scenario of enormous amounts of data but no way of deciphering it effectively. Exactly what companies can (and sometimes should) do to the data is the key question here.

Analytical Developments

Over recent years, plenty of analytics software firms have looked to solve this conundrum, providing the ability to transform large volumes of data into meaningful and actionable insights.

The information acquired from these tools can be used as a way to improve a company’s efficiency, quality and crucially, its productivity.

It’s that specific focus on productivity and reduction in downtime that are truly geared to help improve a company’s wider Operational Excellence strategy.

New Horizons

At a time when markets are unsettled, profit margins are slim and all eyes are on corporate sustainability, plenty of companies are embracing new operating strategies. Besides traditional spending for equipment or process changes to improve outcomes, many companies now also are investing in data analytics and associated skills, in particular Operational Analytics.

Traditional business analytics works on existing data sets to create Business Intelligence reports. These reports help you extract valuable insights and analyse current business strategy. Operational Analytics, unlike traditional analytics, works locally (multiple teams can use it to make their own decisions) and is applied to an incoming stream of data.

What can you do?

Achieving a more robust Operational Excellence strategy with data analytics requires deliberating which points provide process insights that align with business strategies. Operational Excellence, as the pinnacle organisational capability, can seem like an unobtainable company goal. Yet by leveraging its existing information assets, a company can build the management infrastructure and improve the mindset of employees who work on this day to day.

To rollout operational analytics, be sure to focus on the following:

  • Offer flexibility. Automation professionals need to be able to protect and build upon existing investments in automation systems. Being able to connect to many different kinds of applications offers maximum flexibility.
  • Get optimized. Beyond improved operational visibility, real-time analytics can also form a strong foundation of reliability, efficiency, and predictability in operations for optimising production.
  • Unlock data value. Using automatically collected data, managers can track downtime, waste, production counts, and user-defined events, and automatically or manually associate events with a specific cause in real time. By harnessing the intelligence of industrial data, companies have better insights into root causes, contextualized analytics, and powerful reporting tools.

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