Product innovation process consists of adding new features, solving the problems and innovative ideas that would bring values to the product. More values means more business growth for the organization.
Most of the enterprises by now have some kind of Product Lifecycle Management tools such as ENOVIA, WindChill, TeamCenter etc. They cater to different domains. Retailers would go for FlexPLM, Centric Software, and other domain specific tools. For most of the tools in the market, authoring of design specification and development of Bill of Materials are primary area of concern. They aid in setting up approval workflow and distribution of information in a secured environment. However, Analytics is an afterthought or external to the PLM tool eco system. Let us explore some of the areas where Elastic Search can help to aid the current PLM programs in organizations.
ElasticSearch can help product innovation programs in two ways
- Application domain object analytics
- System health monitoring and analytics