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The Key to Big Data

Posted January 08, 2015 12:00 AM by Engineering360 eNewsletter

Once the Industrial Internet becomes a reality, manufacturers expect an avalanche of data to become available. Technologists contend that predictive analytics will provide the means to leverage this resource, boost operational efficiency, and improve a company's bottom line (see video). Manufacturing Global looks at the promise of predictive analytics and debunks some of the myths surrounding the emerging technology. In the process, it explains the challenges of implementing forward-looking analytics, examines the types of applications that will benefit from these tools, and previews new technologies that promise to help automate the analytics process.


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Join Date: Apr 2005
Location: St. Louis, MO. USA
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#1

Re: The Key to Big Data

01/08/2015 7:05 AM

If the majority of the industry actually uses the data for predictive analytics. And that is the big, especially if history is any indicator. In 1995 TDC (True Downtime Cost) methodology was introduced. An activity based costing system that required manufacturers to use existing data generated by machines to more accurately report TDC. 2 decades later, only an infinitesimal fraction of the industry is using and acting on TDC data.

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#2

Re: The Key to Big Data

01/09/2015 8:31 PM

Whether they use it or not, I think it will be dreadful.

We have very limited privacy as it is and, while with nothing to hide,
the more "big brother" grows the more insignificant minions we become.

We are already "data logged and bound" at every turn; trust me; to accept
this IOT will be the beginning of our end. They will know everything, right or wrong.
According to the media, they can already shoot people with relative impunity!
How much more do you (we) need to be dismissed? Given an inch now....

With regret I think this will prevail, likely not in my lifetime, but we will become
life time slaves to whatever power is in charge. Yes, a few items will be positive,
but the net result will become a total lack of freedom; corralled into the whole;
enslaved to those in charge. Mr G. Orwell was only a little premature.

Feel sorry for my Luddite attitude? Well don't say I did not sound a warning.

jt. No jokes this time, this imminent future frightens me.

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