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Big data offers a new future for manufacturers. While the industry has been slow to harness the possibilities of data-driven manufacturing, the opportunities for new efficiencies, smoother supply chains, and accelerated product development cycles are forcing forward-thinking manufacturers to embrace data collection and analytics. Get a deeper look at the advantages data brings from Co-founder and Chief Executive Officer Lou Rassey.
Transcript:
The word “data,” when I was growing up, was a word you hardly ever heard unless you happened to be an engineer or computer programmer. As we all know, that’s no longer the case.
We live today in the world that data built. Data has dramatically transformed the ways we live and the ways we work. It has revolutionized healthcare, retail, communications, media, and so much more. But there’s one sector that seems stuck in the pre-data past. That’s manufacturing. I’ve spent my whole life in or around manufacturing. And the truth is that the sector hasn’t done enough to keep up with the digital revolution. When it comes to using data, manufacturing lags behind nearly every other sector. Manufacturing has a data management deficit. But we can close that gap. We can bring manufacturing into the 21st century.
That’s our belief and our work at Fast Radius. We know that data can drive better decisions and unlock new possibilities at every stage of the manufacturing process: from design, to production, to logistics. In fact, we’re seeing it first-hand every day.
Data can reduce flaws throughout the manufacturing process, saving time and money. It can make operations more agile and our supply chains more resilient and more sustainable. Real-time data tools give manufacturers the fast-twitch muscles to pivot in response to a surge in demand, a trade war, or even a global pandemic. Manufacturers can use data to transform our businesses, our economies, and our future. But we won’t get there if the sector doesn’t first reimagine its relationship to all of the data it produces.
At Fast Radius, we’re excited to help lead this change.