How can outcomes/ROI be measured? According to a new white paper by PMMI Business Intelligence, correctly measuring the outcomes of a big data analysis project is critical to identify whether the project has been a success. It can also determine if outcomes justify further investment, or possible follow-on projects that might benefit from the solution.
Starting points for this include specifically defining the objective of the project and subsequently measuring the performance or level of operation of the manufacturing process prior to introducing big data analytics.
The point of measurement varies by application, but may include:
- Quality – number of defects per million
- Productivity – the number of products produced in a set time, or number of variants of a product that can be produced, as well as unplanned downtime.
- Efficiency – the minimization of the use of resources
- Flexibility – the ability to expand the number of SKU’s produced within a defined timeframe.
For more details about the Big Data in the packaging and processing industry, download the FREE white paper here.
Source: PMMI Business Intelligence “How to Utilize Big Data to Enhance Manufacturing Processes”
