Submitted by Erik Udstuen, CEO & Co-Founder at TwinThread
As an organization looking to leverage a predictive analytics platform to bolster your efforts toward greater efficiency, you need to adopt a mindset of and appreciation for impatience. The less time your domain experts are waiting for a predictive solution to provide what they need, the more time they are implementing optimization (resulting in more profit).
In the spirit of remaining impatient, it can be tempting to embark on a “do-it-yourself” project - where the solution is built in-house and is completely proprietary. This notion is understandable. However, we’re talking about time to value here - and the value isn’t in having a predictive solution for its own sake.
The value is in the speed at which you’re able to easily pull actionable insights from the solution. The best DIY is one where you skip the solution development phase and get right into owning and cultivating a better understanding of your data.
What you need is a platform that can be connected to your Historians or data centers in minutes, deliver meaningful insights in hours, and empower your subject-matter experts to operationalize those key learnings in days. It’s counterintuitive and counterproductive for a predictive solution provider to preach on the efficiencies their platform will stimulate but, at the same time, be inefficient in their ability to implement it within your operation.
Not only is it not fair to your organization, but it’s disenfranchising to your domain experts’ spirit of innovation. You can’t cultivate and sustain a culture that drives continual improvement if the solutions you draw on detract from that mentality. Your problem-solvers are racehorses bucking at the starting gate – your predictive solution of choice should facilitate the opening of those gates as soon as possible.
A platform that requires weeks for implementation, and that sequesters your domain experts from insights for months mayeventuallyoffer up the operational results you are looking to achieve. However, a platform this slow will not allow you to achieve the level of profitability you could have accomplished with a solution provider that prioritizes expediency to value.
To be profitable with predictive analytics, you need insight rendered quickly. If your platform doesn’t offer meaningful insight, or it fails to offer it at high velocity, it’s very difficult to increase profits.
TwinThread is all about shortening the distance your domain experts need to travel to arrive at actionable insights. To speed your way to meaningful, scalable optimization,get started here.