Making better use of data

Wth 60+ engineers and computer scientists working out of offices in the U.S., Canada, the U.K., and Costa Rica, Factora is a manufacturing consultancy that uses software technology to enable manufacturers to optimize their operations. Fundamentally the firm’s offering is all about capturing as much data from the process as possible and then exposing back to the customer the insight gained from that data so that the customer can effect change. I talked recently with Factora Chief Operating Officer and Chief Technology Officer Andrew Waycott. Highlights of the conversation follow.

Are CPG companies aware of how important it is that they get better at using data?

Waycott: Not entirely. It’s still common enough to walk into a plant where information is being recorded on clip boards. I always call that the operator’s “suggestion box,” because it’s not really a very accurate way of collecting information that can be meaningfully used in a big-picture way.

At companies where you do see better use of data taking place, what’s driving it?

Waycott: Three things. First, as new packaging equipment gets purchased, it tends to have the latest and greatest data feed functionality pre-baked into it. So as companies grow and they see the value of this kind of thing on their newest lines, they wish they had it everywhere. Second, the whole IoT / Smart Manufacturing / Industry 4.0 notion has started to gain traction so much more broadly these days. This increases the likelihood of CPG executives realizing there is real value in these things. And third, it’s getting really inexpensive to retrofit equipment with enough sensors and other bits of kit needed to actually start getting good info and insight out of your equipment, no matter how “mature” that equipment is. The barrier to entry for a single-site company where equipment may not be the latest and greatest is dropping quickly.

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