The idea of data-driven decision-making is that decisions should be extrapolated from key data sets that show their projected efficacy and how they might work. Sunstone RTLS (real-time location system) can gather this data and present it in ways that support decision making. This is in stark contrast to the way that decision making has been done throughout the history of commercial enterprise, where before the presence of new complex technologies, individuals often made decisions based on observation or informed guesswork.
Fundamentally, data-driven decision making means working towards key business goals by leveraging verified, analysed data, rather than merely shooting in the dark.
However, to extract real value from your data, it must be accurate as well as relevant to your aims. Collecting, extracting, formatting, and analysing insights for enhanced data-driven decision making in business was once an all-encompassing task, which naturally delayed the entire decision-making process.
Data-driven business decisions make or break companies. This is a testament to the importance of online data visualization in decision making.
Data collection with Sunstone platform
Sunstone RTLS is a platform for collecting data (position, motion, tracking- and sensors data) based on UWB (ultra-wideband) technology and online interfaces for manufacturing reporting and controlling. Allowing you to track the status of your Andon system online and in real-time without any modification to your machines. Product tracking offers a real picture of your production status at any time and you will also get an alarm if the system recognizes any anomaly during the process.
The online monitoring system for logistics and manufacturing – which can help identify any problems in your processes – is included in the system. The system is easy to integrate with ERP and MES systems and all of your enterprise databases for better data collection.
The 5 steps of data-driven project:
- Make a strategy: First, identify your goals – what can data do for you? Perhaps you’re looking for new leads, or you want to know which processes are working and whichh are not. Our Lean- and business developer partners can help with this step.
- Identify key areas: Data is flowing into your organization from all directions, from customer interactions to the machines used by your workforce. It’s essential to manage the multiple data sources and identify which areas will bring the most benefit. What areas are key to achieving your overarching business strategy? Our Industry 4.0 and finance experts can help with this step
- Data targeting: Now it’s time to target which data sets will answer the questions (identified in Step 2). This involves looking at the data you already have and discerning which data sources provide the most valuable information. Our Data science partners can help with this step
- Collecting and analysing data: Identify the key players who will be managing the data. This will usually be department heads. To analyse the data effectively, you may need integrated systems to connect all the different data sources. Our Industry 4.0 and IT experts can help with this step
- Turning insights into action: The way you present the insights you’ve gleaned from the data will determine how much you stand to gain from them. We have multiple business intelligence tools that can pull together complex data sets and present them in a way that makes your insights more digestible for decision makers. Our Data science partners can help with this step