Our friends at the Thought Leadership League recently conducted a survey to examine ways organizations can improve their access to meaningful data. Not surprisingly, their findings indicated a strong demand among organizations to enhance access to real-time data as a way to improve their core day-to-day operations.
According to the study, 92% of organizations agree that data can help streamline operations and improve performance, while only 6% of these organizations are satisfied with their existing access to data that would do so. Additionally, the study found that the opportunities with the greatest potential for data optimization are directly related to their core business operations. The following ranked among the highest:
- Enhancing Remote monitoring and Emergency Notification Systems
- Integrating Communications, Control, and Information Processing with Logistic Systems
- Connecting Marketing, Sales, and Operations Data to Improve Customer Targeting
- Responding in Real-Time to Supply Chain and Distribution Networks
- Optimizing Energy and Utility Consumption
- Monitoring Environmental, Manufacturing, and Safety Controls
- Controlling Mechanical, Electrical, and Electronic Systems used in Buildings
The study also found a significant disparity between IT and non-IT professionals in their perception of cost and time required in data improvement efforts and noted this as one of the greatest potential challenges organizations face in data optimization. Among the other more prevalent challenges faced, the following were reported in order of significance:
- Too many separate systems
- Lack of Available Internal Resources
- Budget Constraints
- Cumbersome Legacy Systems
- Effective Software/Integrated Solutions
The report concluded that an underlying factor inhibiting access to meaningful and real-time data, and operational optimization may be a lack of awareness of emerging technologies that address these issues. At MachineShop, we've architected our offering specifically to simplify real time data access, particularly to connected sources of data. Our API-centric approach also makes it much easier to integrate data into a wide range of legacy systems. We literally take almost all the cost and complexity out of data acquisition and integration. Our customers connect to and integrate data sources in a fraction of the time and cost of traditional platforms. To learn more, click here.