The role of data analysis in the production process in the conditions of economic uncertainty
Taking these factors into consideration, decision-makers of manufacturing companies face the difficult challenge of how to manage a company in times of economic uncertainty in a highly competitive market, operating on low margins, which is constantly looking for new opportunities to optimize the manufacturing process and reduce costs in order to achieve at least a minimal advantage over market rivals. Investments in highly specialized machinery or innovative technologies, which, although undoubtedly justified, involve large expenditures that are likely to pay off only in the long term.
Unfortunately, many companies neglect the importance of properly tailored, reliable and up-to-date information processed in the company’s internal systems. The vast amount of information collected by the various IT systems operating within the company is not processed in any way, and it is in this information that a number of important clues to the right direction for the company’s development and market success are hidden.