Recently, the main field of activity of companies supplying engineering solutions is focused on implementing cloud products for end-users. In this article, we are going to analyze the functionality of the engineering Data Room software in such a sphere.
Data Room: to automate deals in the engineering industry?
The digital transformation in engineering means not just the introduction of new technologies, but above all the transition to new models of business organization with a radical restructuring of production and management processes, the creation of other supply chains. Companies today have to operate and compete in an environment of unprecedented speed and scale of change across the industry. We need to innovate more quickly, create new revenue streams, deeper analysis of data, including from end devices, and other approaches to interacting with our customers, partners, and employees. All of these changes are fundamental, interconnected, and require some kind of catalyst to drive them, which is what the engineering Data Room is.
Companies achieve even greater added value for engineering production and logistics processes if they consider this large amount of individual information in its entirety and bring it together centrally in so-called Data Rooms. This is where individual data is linked to one another and combined with information from third-party systems. This enables new knowledge to be derived about the process itself as well as about the condition of the machines.
Technical reports in the Data Room
Data Rooms are more than containers or a collection point for data, the software comprises all data stocks, engineering technical reports, and uniformly describes them and connects them. The relevant information obtained from this serves as the basis for decisions, for example in intelligent production, in which machines or production goods are enabled to act independently in an automated environment.
This, in turn, assumes that a large amount of data from a wide variety of sources and formats are not chaotic, but rather structured – with the help of Data Rooms in which data from heterogeneous sources are semantically described, processed, and linked. Because the information in machines and production processes only offer real added value if they can be related.
The fact is that this virtual technology, which began with an electronic drawing board, has grown greatly and now includes many areas: computer-aided design of mechanical equipment, engineering analysis, preparation for production, applications for publishing technical information, visualization, service, and, finally, engineering data and product lifecycle management systems.
There are many benefits of Data Room software solutions for the engineering industry:
- computing power in server farms means near-instantaneous engineering and visualization results;
- the fact is that all engineering software will be available immediately and everywhere;
- managing and installing the software and its updates is no longer a matter of the enterprise;
- design data is stored remotely and accessible from anywhere;
- the software will run on any platform that has a browser;
- cost savings by reducing the need to purchase expensive equipment;
- data stores of unlimited size;
- increased employee mobility.
So, Data Rooms involve shared data access. For medium and small companies, this means greater flexibility in obtaining the necessary functionality and the ability to consume exactly the volume of services and performance that is needed at the moment, which means lower costs. For large companies, this is an opportunity to get rid of part of the IT infrastructure, or even abandon it altogether by receiving services from an external cloud, thereby reducing capital costs. This is also true for geographically distributed companies since data centralization is in the Data Room repository.