This article discusses how PLM analytics can offer actionable insights that improve business performance, extending the value of a company’s PLM investment.
In today’s competitive business environment, project management has increasingly relied on past performance data to predict future results. Integrating Product Lifecycle Management PLM analytics can help organizations transition from task-based project management to performance-driven approaches.
PLM Analytics Boost Business Value
High-performing manufacturers recognize the importance of PLM and analytics in driving business success. PLM provides a comprehensive system for managing product data from concept to end-of-life. At the same time, analytics uncover hidden data relationships and trends, enabling companies to make informed decisions and resolve issues more effectively. By leveraging these technologies, businesses can optimize their resources and increase the return on their investment.
Deliverable-Based Project Management
The combination of PLM and deliverables-based project management allows companies to automatically capture task and status updates from team members in real time. This “invisible governance” approach minimizes manual effort and enables better decision-making based on accurate, up-to-date information. As a result, businesses can reduce project delays and cost overruns, improving operational efficiency and competitiveness.
The Power of an Innovation Platform
The 3DEXPERIENCE platform from Dassault Systemes offers advanced extensive data capabilities to analyze and integrate data from multiple sources, delivering actionable insights through secure, auditable dashboards. This data-driven decision-making capability extends throughout the organization, supporting strategic planning and execution. By adopting a unified platform, companies can streamline processes, foster collaboration, and drive innovation more effectively.
Improve Performance Through Project Management powered by PLM Analytics
By integrating PLM and analytics on a single platform, companies can harness the full potential of their data to make better decisions. This approach allows for real-time insights and immediate action, transforming project management from a task-based activity to a performance-driven one. As a result, an organization can achieve higher efficiency, innovation, and competitiveness levels.
PLM Analytics, part of the 3DEXPERIENCE platform, enables companies to gain valuable insights from their PLM data. These dynamic, real-time dashboards provide detailed information on schedules, changes, issues, costs, and more, helping businesses improve performance. Armed with this knowledge, decision-makers can proactively identify bottlenecks, adjust resources, and mitigate risks, leading to more successful project outcomes.
To maximize the benefits of PLM Analytics, companies should:
- Use visually compelling dashboards to consolidate information
- Make analytics “drillable” to support further investigation and action.
- Ensure data is current and updated in real-time
- Tap into multiple data sources, both internal and external.
- Make insights visually contextual by overlaying information in 3D designs
- Offer self-service analytics for decision-makers to explore data independently.
- Ensure data security and access control
Challenges with Traditional Business Intelligence (BI) Solutions
Traditional Business Intelligence (BI) solutions have limitations when applied to complex, unstructured data sources like PLM. PLM analytics addresses these challenges by:
- Handling complex, multi-dimensional engineering data
- Analyzing graph data that is not suited to traditional BI tools
- Unlocking information from text using semantic and clustering algorithms
- Ensuring high performance by analyzing indexed data in seconds
- Supporting 3D model/ CAD/ product structure-aware analytics
- Incorporating advanced techniques like clustering data and predictive analytics.
- Seamlessly integrating with other enterprise systems for a holistic view of the organization’s data landscape.
Increase Performance with PLM Analytics
Implementing performance-driven project management with PLM analytics can improve business outcomes by providing actionable insights from complex, multi-dimensional data. Companies leveraging PLM Analytics on a platform like Dassault systems 3DEXPERIENCE can unlock the full potential of their PLM investment, driving better decision-making and enhancing overall performance.
By embracing this integrated approach, businesses can stay ahead in a competitive landscape, fostering innovation and growth. With real-time, data-driven insights, organizations can proactively address project challenges, optimize resources, and maximize their ROI. In an increasingly data-driven world, PLM analytics is essential for companies seeking to thrive in the ever-evolving business environment.