In the first piece on the Decision Making Model, we focused on data acquisition. Data is critical in manufacturing. In today’s world, things move faster and cost more money than previously. There is no time or money to spare for mistakes, overruns, underruns or lost time in production. Data acquisition is one of the keys to performance here. Data is the new oil in your processes.
Now, we need to talk about information. Once you’ve got the data you need, you’re going to be hungry for information. What does the data mean? What can you do with it? How can you use it most effectively (and here, we mean both from an investment of time and money)? Spreadsheet data is not very useful – it’s just numbers. Data with its context provides information and useful feedback.Read More