A gap analysis can move manufacturing facilities into the future of business intelligence. Forward-thinking owners should consider platforms that provide insight into their data warehouses and will connect various systems in order to gain data traceability. While the return on investment might be more conceptual than quantitative, value is found in the details. Do you know where your data is? Anatomy of Gap Analysis The concept of gap analysis has been around for ages. Through an engineered approach, we have figured out mechanisms that simplify the process. Gap analysis involves taking an existing process or system and looking at its current functionality. The next step is to take the desired outcome or change in performance and to look ahead to what the system could or even should look like to achieve new functionality. The delta of the two steps is a gap analysis. Widely accepted in the corporate world, gap analysis often results in a tangible increase in system and process performance, and this performance upgrade is measured by a common term known as a return on investment (ROI). In manufacturing, ROI is typically seen with improved production performance, more units produced per unit of time. In short, if the execution of a gap analysis results in more production with the same effort, the return on investment is deemed positive. This ROI drives many decisions manufacturers make. Smart manufacturers will think outside the box when it comes to ROI for data and upgrades. In the Business Intelligence space, I would like to suggest a new term: “virtual return on investment.” With the advancement of IT and the introduction of a virtualized environment, virtual ROI seems fitting. Virtual ROI can be defined as an ROI that may not be seen in a tangible, mathematical form yet is extremely valuable for […]