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Managing the Information Tsunami to Accelerate Product Design

INFORMATION TSUNAMI BENCHMARKING COMPANIES'ABILITY TO MANAGE CRITICAL BUSINESS INFORMATION IN SUPPORT OF PRODUCT DESIGN & DEVELOPMENT ......... OF MANUFACTURERS CLAIM THEY LACK INFORMED DECISION- 60% MAKING CAPABILITIES NECESSARY TO INNOVATE ....... ............ .................. DECISIONS MADE DIFFICULT BY INCOMPLETE, INCONSISTENT AND INADEQUATE INFORMATION? 54% ... .... FOR MANUFACTURING & SUPPLY CHAIN EXECUTIVES, The impact on operational disruptions/costs 67.7% ENGINEERS & OTHER Product TECHNICAL PERSONNEL, 60.3% quality/reliability/liability KEY RISK AREAS IMPACTED BY INABILITY The impact on potential sales 60.3% TO ACCESS RELEVANT revenue INFORMATION┬│: Brand / intellectual property damage 41.2% Compromises to compliance (e.g. safety, environment) 38.2% Compromised security 35.3% 20% 40% 60% 80% THE INFORMATION CHALLENGE IS GROWING OVER THE PAST 4 YEARS, THE RISKS 35 FROM NOT BEING ABLE TO PROPERLY ZETTABYTES OF DATA GENERATED ANNUALLY BY 2020 MANAGE CRITICAL BUSINESS INFORMATION HAVE*: EXABYTES OF DATA GENERATED EVERY TWO DAYS Decreased Decreased N/A slightly significantly 1% 7% 60% 80% GROWTH IN STRUCTURED 1%. & UNSTRUCTURED DATA ANNUALLY GROWTH IN UNSTRUCTURED DATA Increased ANNUALLY No change 16% significantly 29% ORGANIZATIONS THAT FIND THEIR 60%) CURRENT SYSTEMS FAIL TO SUPPORT INNOVATION Increased DECISION-MAKING: slightly 46% Increased Increased Decreased No change significantly slightly slightly Volume / Amount of information 54% 41% 4% 1% Frequency of how often information changes 34% 55% 8% 3% Complexity of information 43% 45% 9% 3% Pressure demanding faster access to information 59% 32% 8% 1% COMPANIES RANK THE FOLLOWING AS INFORMATION SOURCES MISSION-CRITICAL TO THE SUCCESS OF THEIR ORGANIZATIONS: Standards - Company, Professional Societies & Trade Associations (Domestic, & International, e.g., ISO, SAE, ASME, ASTM, IPC) Regulations, Codes & Directives 67.0% Regulations, Codes & Directives - e.g., Dodd-Frank, EPA, OSHA, trade regulations, RoHS, REACH Product Data & Technical 61.5% Specifications Product Data & Technical Specifications -e.g., product information, reference designs, price & inventory data Standards 52.7% Part & Component Lifecycle Data -e.g., counterfeit parts & materials information, alternative sources, end-of-life notices, change/failure notices, obsolescence, predictive information Material Disclosure & 44.0% Environmental Compliance Material Disclosure & Environmental Compliance -eg., Part & Component Lifecycdle "conflict minerals" content, lead-free indications, certificates of compliance, full material disclosures, energy use/efficiency, counterfeit parts & materials 40.7% Data Other Supply Chain-related Information 49.5% Other Supply Chain-related Information - e.g., commodity price and wage analysis and forecasts, technology market and economic forecasts and outlook, supplier financial information, supplier risk information 0% 20% 40% 60% 80% HOWEVER, MANY COMPANIES SEE AVERAGE OR SUB-PAR PERFORMANCE RELATIVE TO ACCESSING AND LEVERAGING THE FOLLOWING CRITICAL INFORMATION SOURCESS: Excellent Poor Standards 17.2% 36.8% 39.1% 4.6% 2.3% Product Data & Technical Specs 21.4% 39.3% 33.3% 6.0% 0.0% Regulations, Codes & Directives 29.5% 42.0% 21.6% 4.5% 2.3% Material Disclosure & Env. Compliance 17.9% 39.3% 28.6% 9.5% 4.8% Part & Component Lifecycle Data 16.9% 31.0% 26.8% 16.9% 8.5% LEARN MORE ABOUT THE CHALLENGES COMPANIES FACE IN ACCESSING, MANAGING & LEVERAGING BUSINESS-CRITICAL INFORMATION & EXPERTISE. Visit http://tinyurl.com/8njlp2j ─░HS 1-IDC. 2011 2- Infocentric Research. The Digital Workplace: Redefining Productivity in the Information Age. 2012 3-6- Supply Chain Executive and IHS survey. 2012

Managing the Information Tsunami to Accelerate Product Design

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Benchmarking Companies' Ability to Manage Critical Information in Support of Product Design

Publisher

IHS

Category

Technology
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