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Showing posts from April, 2023

Essential Manufacturing Metrics that Promote Efficiency

  Each year, millions of people establish small businesses in an effort to thrive in the cutthroat industry of marketing. You must have the proper combination of goal-driven activities in order to stay one step ahead of your competitors in this environment of intense competition. Before you can build efficient methods , you must first have a sizable collection of marketing data and good reporting tools that can uncover the data and give you deeper insights into your company's operations. If you have more knowledge , you may be able to make choices that will benefit your business and pave the road for its growth. To help you with the process of integrating market data, we've included some of the top marketing reporting tools below: Zoho Analytics: The entire credit for Zoho Analytics ' exceptional functionality lies in its extensive feature set. The AI, machine learning, and natural language processing technologies supporting the BI platform enable it to carry ou...

Essential Manufacturing Metrics that Promote Efficiency

 Even if there are a million things we might say about business , it is ultimately just a numbers game. Essentially , profit and loss figures determine everything in a corporation . Data like revenue earned, orders filled, and other similar information are very important in the company. A business may use some key performance indicators as its guiding measures. The accurate evaluation of those indicators is crucial for the proper operation of a corporation. OEE (Overall Equipment Effectiveness) tracking is a performance metric used in manufacturing to measure the efficiency of equipment and identify areas for improvement. OEE is calculated by multiplying three factors together: Availability, Performance, and Quality. Availability measures the percentage of time the equipment is available for production . This includes planned downtime (such as maintenance or cleaning) and unplanned downtime (such as breakdowns or changeovers). Performance measures the actual product...

How Financial Data Analytics Can Help You Make Better Decisions

  Organizations have access to an incredible amount of data , which is a great tool . It has the capacity to enhance decision-making, influence strategy, and enhance organizational performance when applied properly. Big data is a word that is frequently used in relation to data analytics to describe the gathering, management, and analysis of enormous volumes of data that are too complex or massive to be processed by conventional technologies . Financial data analytics can be used to formulate firm goals and objectives, create dynamic profit and loss statements, and streamline budgeting , among other ways to enhance corporate performance. Companies can create reports more frequently and from various places thanks to contemporary financial software solutions. Financial data analytics' function is to compile all business, operational, and financial data into a single system for easy viewing and comprehension by all members of the organization. This implies that y...

The Intersection of OEE Tracking and the Internet of Things

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Also called the IoT for short, the Internet of Things refers to a network of countless devices that are all creating, storing, and sharing data with each other at all times. Over the last decade, they've become a cornerstone of what many are referring to as Industry 4.0 - otherwise known as the Fourth Industrial Revolution. It's also a concept that builds upon a lot of the best practices that manufacturers have been following in recent years, with OEE tracking being chief among them. The Importance of Data Quality To get a better understanding of why the IoT is playing such a pivotal role in factories everywhere, consider for a moment the way those devices are already being used. Wireless sensors  embedded in virtually any device you can think of on a shop floor are being used to identify precisely where products are for the purposes of picking and sorting. They're being used for product packaging. They're collecting data pertaining to the status of machines to ...