Data driven businesses
At the heart of technology innovation is software. Microsoft CEO Satya Nadella famously said ‘Every business will become a software business ‘ and whilst true this statement perhaps hides the underlying success factor which is data. This is especially true of providers of assurance services where data is the product. Software of course is critical to how data is captured, stored and analysed. Here are 3 areas where these businesses are making a competitive difference using software.
Extracting value from data is critical for testing and inspection organisations. Unified data sets combines analytics can offer insights unknown or not considered by the customer. For example an inspection service can employ analysis to predict where issues may occur and how future inspection plans should be optimised. Architectures that are specially modelled for the these businesses can ensure that data generated is put to good use for future decision making. This type of insight is not only of value to the customer but also creates opportunities to introduce new service lines.
Managing increasing volumes of data often leads to rising overheads. Furthermore manual intervention to enter, QA or publish information creates bottlenecks and introduces errors. Any resulting increase in costs is usually passed on to the customer. Software can automate many routine business processes and reduces the need for manual intervention and deceasing processing time.
Speed of results
This will be the defining competitive factor for testing , inspection and certification services in the coming years. Assurance services can easily become commoditised and speed of response is a big differentiator in the eyes of the customer . Digital platforms specifically designed for the industry are will be critical enablers in this respect.