They say that companies that do not understand the importance of Analyzation are less likely to survive in the modern economy. Your data is your most valuable asset. Data management is important because the data your organization create is a very valuable resource. The last thing you want to do is spend time and resources collecting data and business intelligence, only to lose or misplace that information. In that case, you would then have to spend time and resources again to get that same business intelligence you already had. However, only well prepared and analyzed data leads to process knowledge and finally, to process control and continuous improvement. Thus, a robust and efficient data analytics strategy is one of the most valuable concepts for the process industry.
Reuse of knowledge by efficient data analytics to fix societal challenges