It’s often said that data is the new oil, yet what remains unsaid is the crucial need for the right tools to extract and refine this invaluable resource.
Much like any other high-value asset, the true worth of data is realized through effort and investment in capturing, storing, and maintaining it securely and accessibly. Organizations must convert data into meaningful information and disseminate it effectively. Here, an Engineering Document Management System (EDMS) plays a pivotal role, in providing efficiency, security, and productivity in engineering data management. Let’s delve into the role of engineering document control software in modern data-driven organizations.
Defining a Data-Driven Organization
A data-driven organization excels in mining, refining, and utilizing data to enhance profitability. Such entities adeptly leverage data analytics tools and processes for better decision-making and strategic planning.
However, amidst the pursuit of ‘big data,’ organizations sometimes overlook the wealth of valuable information embedded in day-to-day workflows and documents—specifications, charts, manuals, and everyday documents generated throughout business processes. To unlock the potential of this data, one must view it as a resource.
For instance, if you’re in an Engineering, Procurement, and Construction (EPC) firm, realizing benefits from existing data involves identifying potentially useful documents and discerning valuable data within them. The challenge lies in recognizing which data can transform into valuable ‘information.’ This is where EDMS and document control come into play.
Unlocking Hidden Value
An engineering document management system empowers you to swiftly locate specific data within any document, meeting preset parameters in seconds. Extend this capability to sift through all types of documents across various workflows, and you start to unveil the hidden value of ‘everyday unstructured’ data.
Additionally, the ability to convert raw data into user-friendly graphical reports within the same software completes the picture. Managers gain quick access to information, fostering better decision-making.
Considering that contemporary decisions demand rapid access to real-time information, document control software for engineering emerges as exceptionally valuable.
Dealing with Data Itself
While ‘big data’ gets a lot of attention, we should equally focus on “unstructured” data used in everyday workflows. This ‘unstructured structured data’ includes files in standard formats and types, making it structured. However, the data itself tends to be informal or unstructured. Drawings, spreadsheets, and flowcharts fall into this category.
Modern document management systems do more than just organize and store this data. They enable seamless searching within files by linking specific documents to particular workflows. Executed correctly, EDMS systems help organizations make sense of the ‘unstructured’ data they handle daily.
So, the next time you hear ‘data mining,’ remember that it’s not just about sales and marketing data. It’s equally applicable to engineering and project processes, offering significant business benefits—provided you have the right tool and an EDMS with robust engineering document control features.
