Throwback Thursday is popular on social media platforms. We usually get a good chuckle out of seeing how things have changed or stayed the same when we see the TBT tag. At Hertzler Systems, we will be using TBT to dust off articles that remain relevant, but have become hidden in the bits and bytes of the world wide web. January’s Throwback Thursday focus is on The Eight Aspects of a Data Driven Business.
The exact definition of what a data driven business is has changed since this white paper was written. If it were written today, it would undoubtedly have new information related to the Internet of Things (Iot). The promise of IoT in manufacturing is to lower the cost of data and with the assumption that artificial intelligence (AI) will sort out the rest because, at the end of the day, more data is always better. The allure of cheap and plentiful data is great. Large scale IoT projects achieve the goal of driving down the cost of data, however the usefulness of it is questionable. We have worked a number of clients whose planned data lake ended up being a data cesspool.
The allure of ultra low/no cost data is strong, but it is an illusion. The simple self-evaluation detailed in this white paper applies as much today as it did when it was written a number of years ago.