Tuesday, April 22, 2014

Counting the Cost: Not Having the Data (PART 1)


When I buy a product, I always stop and consider the cost; is it worth the price I’m paying for it? Do I really need it? Will it stand up to other products out there? Many companies have the same or similar questions about data collection and the historians on the market today. Questions like: “Is it worth the price?” Or even, “Do I even need to collect data at all?” These are all viable questions but there is one more you need to consider: What is it costing me by NOT having the data? The answer is, a lot. 


Having the Data provides:
- Faster Solutions
- Accurate Reporting

Data helps prevent or reduce:

- Downtime
- Fines
- A Wrong Diagnosis of a Problem

You can record vast amounts of data: machine pressures, humidity, and quantity… the list goes on and on. Keeping track of all this data is difficult but necessary. When a piece of equipment breaks down, the simple fact is that it costs the company money; sometimes thousands of dollars per hour. Most times, trial and error are used to solve the solution, but this can take a lot of time out of the day. If you have the time series data in your hands, you are able to quickly determine what went wrong based on what the data tells you. A drop in pressure will tell you what went wrong and when it happened.

Sometimes the inspectors require reports; in these cases a company needs reports that are accurate, otherwise fines might be inflicted. When there is no data, there is no report. In these cases a fine is more than likely. But with accurate data reports, a fine might be lessened or even eliminated completely.  Knowing what actually took place gives a company better credibility with an inspector.

In short, there is a lot that could go wrong. The software might be faulty. The pressures might be awry. The equipment might be broke or the operator just might need better training. Whatever the problem is, it helps to know the problem. Sometimes basing the solution off of a gut feeling doesn’t solve the problem. It is better to have the answer right in front of you instead of playing a game of Russian roulette.

If you don’t know the problem, you won’t be able to find the solution.

Data can also help in other areas of your company such as decision making and planning, but I’ll save that for my next post.

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