Analytics Possibilities
Data is today’s currency; however, people are still trying to figure out how to accumulate this new type of capital. Many manufacturers and industrial facilities have reams and reams of raw data, but still struggle to determine how to make the best use of it. This is a common struggle among companies that are looking to take the first steps of analytics. Typically, they are unsure of the best way to begin or how they can find a return on investment. Whether it’s trying to get a better handle on what happened, understand why it happened, gain an insight into what will happen or get a direction and guidance on the best course of action given the current circumstances, many companies are attempting to drive more information out of their existing raw data.
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