The Varying Methods Companies Are Using to Manage Data and Analytics
Methods of data management across the packaging and processing industry vary greatly, but one major trend with some controversy is the move toward cloud storage.
Cloud data storage can act as a backup for disaster recovery.
PMMI Business Intelligence: 2024 Transforming Packaging and Processing Operations
Data and analytics can be the key to major improvements in packaging and processing operations, but as industry executives at the 2024 Top to Top Summit indicated, there are several routes to consider in managing this data.
Analyzing the responses and comments of executives representing CPG end-users, OEMs, contract packagers, and material and component suppliers at the event, PMMI Business Intelligence’s 2024 report “Transforming Packaging and Processing Operations” describes huge variation in the ways in which data is managed.
Data management methods can range from manual entry into spreadsheets uploaded to the cloud to advanced analytics. Companies often manage on-site data using their warehouse management systems (WMS), enterprise resource planning (ERP), and material requirements planning (MRP) systems.
External maintenance and support are often used to ensure that data is stored and managed properly, and not all businesses had a single data management approach, with one end-user saying data is “separately managed for each division.”
Is your data on-site or in the cloud?
Use of the cloud for data management varies, but as one end user put it, companies are “moving into the cloud.”
About half of respondents use a combination of cloud services and on-site data storage. More than a third say they store data entirely in the cloud, and just under one-fifth keep all their data on-site.
Many of those saying they use a combination of on-site and cloud-based data storage are migrating to cloud-based systems. In some cases, this is because data is being consolidated, integrated, and managed more effectively to leverage its value using analytics.
The cloud is also often used for data storage as an additional backup for disaster recovery. However, the importance of ensuring data is secure was raised at the event. One respondent said their company is “following the strictest safety process and legal rules,” and another noted that there are “checks and balances before [data] goes into the cloud.”Almost half of Top to Top participants' companies use a combination of on-site and cloud data storage.PMMI Business Intelligence: 2024 Transforming Packaging and Processing Operations
One representative among the 20% of companies that keeps their data on-site explained, “we own the entire technology stack, hardware, software, and everything in between. We store our data in multiple physical locations and we air-gap our backups regularly.”
SOURCE: PMMI Business Intelligence: 2024 Transforming Packaging and Processing Operations
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