Data based Decision making in a Steel Organization...

Data based Decision making in a Steel Organization During the operation of a steel plant a large amount of data gets generated. In a steel organization where there are a large number of units working in conjunction with each other and where there are a large variety of processes taking place simultaneously at all the times, the generated data is many times that of a normal organization. This huge amount of data need to be coordinated, collected, integrated, and analyzed in order to ensure that proper decisions are taken for the smooth running of the units, processes and ultimately the steel organization. Decisions taken based on analyzed data ultimately help in providing the organization a competitive advantage. Even without disturbances, unexpected situations and current rapid production changes in a steel organization are challenging for operators, maintenance personnel and production planners and management who make decisions. Hence, there is a need to have a systematic methodology to structure the decision making situations and to find out the relevant information and other needed factors. The performance of decision making depends on the quality of the decisions taken. Structuring the decision making situation means that all the relevant factors are considered and not forgotten, and action choices are found out and their effects are evaluated. This kind of approach produces cost-effective decisions. Data if collected and stored is only a lot of information available. For data based decision making, the data is to be structured and processed. Inter dependency of the data need to be understood and proper integration is to be done to have meaningful data analysis for decision making. Data is good, but only as good as the systems in place to collect summarize, analyze, make decisions, make action plans, implement interventions, and sustain implementation....