Many companies are still looking for the best way to cope with data and to extract value from them. Having a strategic plan to use data as part of your business model is the first step and the best way to guarantee results. By defining and gathering appropriate actions, you can maximise the impact of data on your shareholders or your company’s value creation. Of course, (raw) data on their own do not create value. The goal is to implement an integrated approach of data acquisition (physical and virtual “sensor” data), data storage (metadata), data processing (refined data) and decision making (learning and reasoning), which leads to actionable insights and creates an impact on your products and/or production processes.
