The popularity of modern analytics platforms in manufacturing is largely due to an increasingly competitive pressure to get better control and understanding of cost and product quality. This in turn allows companies to sell their product at lower prices, retain more earnings, or invest more money into research and development initiatives.
When it comes to implementing a data analytics system, businesses are often torn between building in-house or investing in an external provider. While each option presents its own unique strengths and weaknesses, this blog aims to cover why buying is your best bet.
The Unseen Costs of Building
At first glance, constructing an in-house analytics system might seem cost-effective. However, taking into account the long-term considerations like ongoing support, maintenance, and necessary updates, the initial savings quickly disappear. The cost of maintaining an analytics system is not just financial – it also takes away from other work your IT team might need to focus on.
The Price of Independence
Although developing an in-house system allows you to rely solely on internal resources, this dependence has its own hidden costs. When technical issues arise or when it’s time to upgrade the system, your internal teams may struggle due to a lack of specialized knowledge. Case in point, the true meaning of First Pass Yield is often misunderstood, and so systems can be built without consideration of the realities of analytics in a test data landscape.
Accelerated Implementation
Now, more than ever, time is of the essence – markets are too fast-paced to waste even a minute. While internal teams may need weeks or months to set up an analytics system, external providers specialize in these implementations. They have a pre-built product and specialized expertise that enable rapid deployment, meaning you can see a return on investment much sooner.
Flexibility and Agility
With the constantly evolving landscape of manufacturing, flexibility, and agility are essential. In-house teams, juggling their day-to-day role, may find it challenging to implement changes quickly. An external provider, however, can focus solely on the platform, adapting to new feature requests and industry trends much faster than your internal teams who have to juggle their other responsibilities.
Deep Dive Into Data
While your internal teams may have intricate knowledge of your products and processes, they might struggle to unify and integrate data from all processes due to a lack of expertise in data integration. An external provider excels at mining, integrating, and analyzing vast amounts of data to generate insights that might otherwise go unnoticed. That is after all why you invest in test data management software in the first place.
Learning from Others
An analytics provider has the huge advantage of a portfolio of clients similar to you. That means they understand the common challenges of implementation in your sector, and the specific needs of your industry, and are far better placed to help as a result of that. By choosing to invest in an off-the-shelf solution, you benefit from the experience of everyone they’ve already worked with.
At the heart of this discussion, the “build vs. buy” decision revolves around maximizing value while minimizing disruption. For manufacturers seeking a test data management solution, the message is clear. Buying from a trusted provider offers efficiency, expertise, and effectiveness unmatched by an in-house solution.
Want to take your production environment to the next level and use test data to improve your operation? You need WATS. Get in touch with us today.
