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Data Analytics through Statistical Techniques
November 30, 2015 | Steve Williams, The Right Approach Consulting LLCEstimated reading time: 1 minute
Many companies get caught in data traps. They focus so heavily on cost and survival that they end up using data as merely a marketing and sales tool. In doing so, they fail to realize the true power of data: It can transform every aspect of a business.
Survey Says… A recent survey by I-Connect007 revealed just how important data is to our industry, and also just how difficult it is to get accurate, actionable data to drive our businesses. The key takeaway from printed circuit executives was that their greatest need is accurate, real-time process data. When you apply process metrics and dashboards to your data tools, data not only drives improvement, it can drive innovation. Companies struggle with data: how to get it, is it the right data, is it accurate, and is it an automated or manual process? This is where using statistical analytics can help any company
to improve their business, and not just in manufacturing but also in areas like your customer and employee hiring processes. Data should never be pigeonholed or feared. Instead, it should be used to better understand your company. By breaking down the silos that exist within your organization you will generate new perspectives, ideas and performance levels as departments begin to measure their performance against the new metrics. Did you just realize that your company has fallen into a data trap? Luckily, it’s easy to break free from its chains, and using statistical data will reveal just how efficient and innovative your business can be.
Why Statistics? A customer has an expectation of consistency in product quality, delivered on time, and at a fair and competitive price. A business owner has an expectation of making a profit through satisfied customers. A properly implemented SPC program can dramatically increase the degree of success in meeting these synergistic expectations.
Editor's Note: This article originally appeared in the November 2015 issue of The PCB Magazine.
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