"Data is the new oil!” Clive Humby said over a decade ago, and his words seem even more apropos today. The allure of data is all-consuming—open any newspaper on any day of the week and at least half a dozen articles will speak about data. This quest for data rings true in every industry in every geographic region of the world, and the manufacturing industry is no different.
Harnessed correctly, the power of data is almost unmatched, and it can impact all aspects of manufacturing. Per a recent study conducted by Tata Consultancy Services, manufacturers rated product quality and defect tracking as the most important benefit of increased levels of data . In fact, three of the top four benefits identified by these manufacturers were related to quality control. In today’s always-connected world, news travels fast, and bad news even faster, and it can take years to recover from the havoc that can be wreaked by poor quality.