by Danny Stout

Manufacturers have a long history of successfully employing data - big data - to help make important and insightful business decisions. According to a recent article in CMS WiRE by Joanna Schloss, a subject matter expert specializing in data and information management at Dell, early adoption means the industry is set to be a primary benefactor of the big data analytics boom.

Schloss submits that as an early adopter of big data, with a ubiquitous presence in society, and unparalleled access to data collection, the manufacturing industry has a plethora of new revenue streams available to it. In her article, she outlines three:

  • Cross-selling - the data that manufacturers collect on a daily basis is useful to a variety of related and unrelated industries. The ability to sell that information places manufacturers in a unique position for new revenue streams.
  • Provide premium customer offerings - customers are willing to pay for extra services that save them time and money, or provide them a more enjoyable experience. An endless number of potential new customer offerings can be developed based on the data that manufacturers collect on customers.
  • New products - insights are the cornerstone of data. Through data analysis, manufacturers have the opportunity to move into tangential markets that otherwise would have been unknown.

The potential of big data is now a reality for every industry. Manufacturing just happens to be positioned to immediately begin delivery and reaping the rewards.

You can read all of Joanna's insights here.