The knowledge data brings is a key foundation to Digital Transformation, Industry 4.0/X.0.
The organisations that are making the biggest push into the digital age are not those with the biggest data sets, the most/latest/greatest sensors. They are the ones that are applying their unique business knowledge gained over many years to solve their problems.
To be successful and change your world a focus on a few clear BHAGs (Big Hairy, Audacious Goal) makes the difference.
Why shoot for a 5% decrease in defects or 10% increase in service life of a component.
Shoot for the moon. 75%, no 95% decrease in defects is where to aim, if you fall short it’ll still be much bigger than the 5% you set yourself originally and probably didn’t even hit anyway.
And how to you get there? Data and your knowledge. Not all the data from your business, but combined from a few key assets and your insights into your business, this is your secret sauce — something your OEMs, vendors, partners don’t have access to.
It’s time to invest in the detail, get down into the weeds and quickly come back up with a few key areas to investigate, try, fail, repeat until you get those changes.
Your three keys to successful digital transformation: BHAGs, Data and Knowledge.