The faster path from data to decision for manufacturers
Harnessing information effectively is key to sustained growth
Authored by RSM US LLP
Data is the thread that runs through virtually every conversation today about the future of manufacturing, from the potential uses of machine learning to the broader capabilities of factories of the future, to what the workforce will look like in years to come. Manufacturers generate incredible amounts of data from their internal operations, from their supply chain and from their customers. Harnessing that information effectively is the key to smooth operations, efficient delivery of products and services to customers, and sustained growth.
A data-driven organization is one that has moved up and across the data and analytics maturity model. It uses the information that it generates not just to describe what has happened in the business and the world around it, but also to predict what will happen and to have people, systems and processes in place to make automated, intelligent decisions to guide next actions.
However, manufacturers often find themselves unsure exactly what it means to be a data-driven company and feel a lack of clarity around where to focus when it comes to setting themselves up for success guided by data. To be able to take full advantage of the data they generate and collect, organizations need to focus on three foundational areas: data and system architecture, data governance, and data analytics, both traditional and advanced. Senior leadership must make sure that teams across the company share the same business definitions for categories of data and individual data elements so that people and systems can communicate effectively with one other.
Written by RSM professionals and originally published in the Manufacturing Leadership Journal, read about how companies can implement the critical underpinnings of data-fueled efficiency and awareness.
©2021 Manufacturing Leadership Council, a division of the National Association of Manufacturers. All rights reserved.
This article was written by Jason Alexander, Ravi Bodla, Tom Eastlake and originally appeared on 2021-09-27.
2021 RSM US LLP. All rights reserved.
RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each is separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/about us for more information regarding RSM US LLP and RSM International. The RSM logo is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.
Pugh CPAs is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.
Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise and technical resources.
For more information on how Pugh CPAs can assist you, please call 865.769.0660.
Call us at 865.769.0660 or fill out the form below and we'll contact you to discuss your specific situation.