Informed Actions tell us about their aspirations for Data Pitch and beyond.
The data collected from a smart factory has the potential to optimise operations and business processes, as well as improve a manufacturer’s customer engagement.
UK-based startup InformedActions are building a solution to create end-to-end optimisation across manufacturing supply chains, using the data to give clients an action which is informed by the data – an “InformedAction” – in order to save time and money. We spoke to Technology and Development Consultant Paul Sweet about their plans for Data Pitch.
What do you hope to achieve on the Data Pitch accelerator?
We hope to accelerate our product development by validating the work we have done over the last two years against real-world data challenges.
What shared data will you work with and how will you use it?
We’re working with Greiner Packaging International GmBH (GPI) on the Smart Manufacturing Challenge (harnessing IoT data for tomorrow’s smart factories). They’ve shared nine years’ worth of product order data, which we will use to predict future orders for three different products.
Our predictions will help GPI keep up with demand, and to optimise their manufacturing schedules, saving GPI money and time through having the right production levels and optimised manufacturing.
Why do you think it is important for startups to work with large scale data providers?
Firstly, it’s very rare for startups to have access to a large amount of organised, commercial-quality data.
Secondly, there is a huge amount of value in us working so closely with the data provider who can add meaningful insights to the commercial value of the data. Working with a data provider also means they are invested in the outcomes we produce, and the real-world application of those outcomes. It’s exciting for us, and incredibly valuable to work on a product that can be tested and then receive feedback so quickly.
What’s the best thing about working with data?
Data usually does not lie, and it’s always exciting to see what insights are gained from it. Working with data also gives us the opportunity to validate existing theories.
If you could change one thing about the data ecosystem what would it be?
The current trend of focusing on data science technologies is great, but more emphasis should be placed on what the business goals are, and how the technology can meet these goals and overcome these challenges, rather than just technology for technology’s sake.