Don’t become the 85%
Group | MCE
What 85%? The short answer is the group of companies that invest in big data and analytics, spend millions to do it and fail to move their efforts from the lab into production. There is a rapidly growing awareness that all business holds data in their internal processes which, if used correctly, can represent great value and a source for improved efficiency and new value creation.
I would challenge you to find one member in any leadership team or board of a progressive company in almost any branch of business today which would not agree that internal (and external for that matter) data does not hold great promise to build a smarter and more efficient business. But to claim “data is the new oil” is not the same thing as have insights from that data to impact day-to-day operations. So, what have the 15% done which made the difference? I’d like to mention three things which I believe are crucial to become one of the 15%.
- Be very clear on what you want to achieve as a business outcome. Start with what you want to change, then fix the technology to do it. We have a very good example here in our mining business at Mobilaris MCE where a new customer approached us with a very clear agenda from an operational excellence perspective where improved utilization in all aspects – machines, people, roads, headings etc. – was at the core. They had metrics, measurement points and KPI’s already worked out and they wanted us to provide the Mobilaris Mining Intelligence™ solution including our new data ingestion platform with processing and visualization. This project starts now and after a few months we will show utilization improvements. Sharp, clear metrics with a short timeline.
- Leverage the work of others. Don’t reinvent the wheel, leverage what has been done by others, either as in solutions on the market or open source frameworks. Prioritize speed before “owning it all”. In house development might be attractive but it will always be slower and more costly in the long run than to share the cost with others. Unless you are building a future as a company selling an analytics platform, it is the data ownership that is of strategic importance, not the technology used to store, process and visualize it.
- Break the silos. Extracting value out of data has to have an end-user perspective. If you are an industrial facility, you will have many vendors that has sensors embedded in their hardware. They often provide a unique portal where that data can be processed and analyzed. But for you as the facility owner, you need to get the full picture, combining data from vendor A with data from vendor B. Therefore, using an analytics platform which is machine agnostic , with flexible processing options and a large variety of data insertion methods is a wise choice that puts the focus on you, the end user, rather than the preferred machine vendor option.
At Mobilaris, these success factors are at the core of our thinking around analytics. In any customer dialogue we truly emphasize what value we would like to create, how fast we should be able to show it and of course, our core value of openness. During 2019 we will have some really interesting stuff on the market in this area which is way better than what we can offer today, so stay tuned. There is much in store for analytics from Mobilaris during 2019!
CTO at Mobilaris