Already 2.5 quintillion bytes of data a generated every day, and with how glued we are to our smartphones, emails, and facebook, it’s not really surprising. Because of this incredible social shift, companies are having to change the way they do business to keep up. So here is Big Data, a growing phenomenon in data gathering.
A 241 percent ROI (return on investment) can be generated by applying data to business decisions and 91 percent of companies already do. From data analysis, the Raytheon Co. has identified that if a screw is turned 12 times rather than 13 times, production of missiles completely halts. Stork Food and Dairy Systems identifies problems on the production floor through machine noise frequency. Sending technicians to check things out when there is an irregularity in sound and prevents machine breakdowns and reduces downtime.
Some companies are taking data capabilities even further with some truly ambitious ideas. Volvo is working on a project where no one is killed or injured in a volvo by the year 2020. They can predict manufacturing defects before they even happen from measurements taken from their cars. The industry requires that four or five measurements be taken; Volvo takes over 400. With these measurements they can trace faults to the root and correlate mechanical failures with specific driver and location conditions making their vision not so hard to reach.
Check out this infographic presented by TIBCO for more on manufacturing and big data.