Smart Manufacturing, Industry 4.0, digital transformation, AI & ML – probably are the words that one can hear in every semiconductor company board rooms and read in strategy documents in 2022. Sectoral leaders have found value in these already in last decade and some have increasing efforts and focus post 2020 Covid era. Today businesses are increasingly focusing on the elusive and difficult to achieve value on a transformative basis in these themes. Though good value has been already gained from one-off, use case based adaptions so far. These use-case based adaptions already prove the massive potential of these themes in our industry.
This article covers 3 main aspects of data driven value generation approach that we believe is essential for data driven enterprise transformation.
First , it is important to understand what is transformation and transformative value. Many tools aid in better , efficient business flow, like a normal application that replaces many excel sheets, brings structure to a process. However Artificial intelligence, machine learning are tools that are truly disruptive. Most companies try to adopt them by defining some use cases where they can be used. This method is valuable but only should serve the purpose of creating a sense of understanding within the company. Goal is to make them part of every decision made in the business on a daily basis. If we were to look at history of truly successful disruptive technology for every company large or small on earth ,it would be tools like Microsoft Excel / PowerPoint. Sorry, this may not be an example you expected, but if you would imagine a day without it in the office, you will know what I mean.
Excel has replaced painstaking collection of data on paper, hand drawing graphs, analyzing business problems completely - across companies, across globe like no other Software ever has. Today you won’t find a company trying to analyze data by collecting data points on paper, nor making old style projector slide shows.Its also a futile exercise to figure out true value Microsoft Excel has added to business!!!