Inside Eliminate Downtime

Welcome back!

Momentum is building, and the journey of eliminating downtime continues. We have signed up close to 20 thought leaders from the industry for the Elimination of Downtime Committee. Trackunit will also be cohosting an event together with Uptake which will take place in Chicago, on the 12th of June. The event will present the first set of use cases, where we will ask our committee members to evaluate them and give their insights into the best practices.

Like many of you, I spent a few days at Bauma. The experience was impressive as always, and we got some great insights into how we as an industry are working towards eliminating downtime. It inspired a series of insights on how key players are working on eliminating downtime across the ecosystem. You can check out some of the insights in my blog post, here.

Thank you to those of you sharing your great reads, keep them coming. I picked 2 reads and a podcast to take into the weekend as well as some key questions to consider for your organization:

Do you have the organizational capabilities including; talent, structure, and culture to implement a successful data strategy?
What are some of the use cases that AI can help accelerate to help eliminate downtime and what ethical considerations should you consider?
Would your organization be able to publish a case study that demonstrates a real life scenario in which you have utilized digitalization to enhance your business and eliminate downtime?

CRUCIAL ELEMENTS FOR YOUR DATA STRATEGY

Harvard Business Review: "5 Ways Your Data Strategy Can Fail"

Many companies experience that the adoption of a data strategy can be a costly and time demanding effort. According to Thomas Redman, there are five elements that companies should pay attention to when adopting a data strategy; quality data, means to monetize, organizational capacity, technology, and defense. Each element plays its own role in whether the adoption may be successful or not. Proper coordination between these elements and execution from everyone in an organization is also crucial. Data strategies should not be about how much data a company can collect, but rather how the data can be leveraged to generate growth.

A DEEPDIVE INTO THE FUTURE OF THE INDUSTRY

CECE: "Digitalizing the Construction Sector: Unlocking the potential of data with a value chain approach"

Published by CECE, in their continued efforts to promote and push digitalization in the construction industry, this article takes a look at how digitalization will change the industry, while also exploring an array of cases. It gives great insights into what digitalization is and how it will affect different businesses and industries. The case studies demonstrate real life scenarios in which companies have utilized some form of digitalization to enhance their businesses, showing that any company can take up the challenge of digitalization. We have created an executive summary of the report, that you can find here. This is a must read, for anyone in the industry.