Using big data to improve yield, minimise waste and save costs."If digital is the new economy, then data is the new currency" Justice Chikomba, faculty, GIBS
In process-oriented manufacturing operations, maximising yield and minimising costs is most desirable. In many instances, significant amounts of shop-floor, streaming and other data are available in manufacturing environments. Employing advanced analytics techniques, organisations can utilise the massive amounts of data to uncover patterns and unlock intelligence to improve yield and further reduce costs.
Statistical Process Control techniques can also be employed to help minimise variation and deliver consistent outcomes that meet required quality standards and reduce waste.
Whilst organisations acknowledge the value they can potentially derive leveraging big data analytics, few know where to start or have a defined strategy for big data initiatives.
This course will tackle this at a functional level in an organisation with special focus on manufacturing. Various case studies will be discussed that explore the implementation of big data analytics and the opportunity this provides for manufacturing competitiveness. In addition, guest speakers will share insights from operations in their own organisations.