Center for Applied Research on Supply Chain Services at Fraunhofer IIS
Data are the most important raw material in the digital world
The world is changing: new technologies and methods are constantly boosting our ability to create and collect data. This leads to ever faster-growing data volumes and streams that can be used to fuel data-driven processes, organizations and business models. Accordingly, in an increasingly digital world, data is the most important raw material, and mastering its correct use is crucial to companies’ sustained success.
Extracting the raw material »data« – but how?
The high expectations generated in this fast-paced and seemingly all but unmanageable new environment of exponential growth are matched only by the challenges it poses. Companies must ask themselves: How can we best deal with the explosive proliferation of data formats and sensor systems, and integrate them into our IT systems? How can we guarantee the quality and integrity of data, and select the most appropriate analysis and optimization methods – especially when the level of automation and potency of the available processes have not yet even reached maturity? How should we react to the changes in our own business models and roles, or in the ecosystem in which our company operates, that go hand in hand with the introduction of smart products and services?