By Anders Lildballe
The global business world has embraced data.
15 years ago, it was so costly to store data that after a while, most companies simply deleted their files. Today, with computer technology and server storage being more accessible and less expensive, many companies can afford to maintain data with the hope that it will help them understand their operation even better, thus paving the way for improved business results.
Of course, the CEP industry is no exception.
A competitive edge
CEP companies know that to keep their competitive edge, there really is no way around data analytics.
In an industry where the concept of optimisation used to always equal more steel, the development might require some getting used to. Improvements to the system are no longer solely dependent on physical change. Optimisation might as well arrive in the form of new software or robotic technology.
Data analytics entails a new way of thinking, but with constant steps in the right direction, the industry will get there. And when you consider the potential of data analytics, it’s no wonder that companies are motivated to get it.
Let’s take a look at some of the biggest benefits that companies can achieve by utilising data analytics and digitalising operations.