How Manufacturers Can Avoid Digital Exhaust and Put Data on the Balance Sheet
Whitepaper + Case Study in collaboration with Seagate Technology
IIoT and Industry 4.0 initiatives have expanded at a staggering pace, attaching more sensors, connecting equipment, generating terabytes of data every day. And more than any other business segment, manufacturing creates the largest amount of data and therefore has the greatest opportunity to capitalize on its full value.
Organizations across every industry have long realized that the pace of change is quickening and initiated digital transformation, but the pandemic has acted as a digital accelerant like none seen before, especially for manufacturers. Yet while the volume of available data has grown exponentially in recent years, most companies capture only a fraction of the potential value in terms of revenue and profit gains.
The challenge for manufacturers is to harness this data and not let it go up the smoke stack as digital exhaust. Manufacturing leaders have had to respond to rapid change by reimagining each facet of their organization to create a path forward. This has brought a new focus on how well systems across the enterprise are connected to solve the challenges of massive data lakes by combining IIOT, production systems, equipment integration and data platform elements for processing, and analytics. Companies that have the agility to identify and capture the right operations data are accelerating into a future of true data intelligence and reaping the benefits..
Perhaps the most promising trend is Artificial Intelligence/Machine Learning (AI/ML). AI/ML help unlock the value of big data and focus an organization’s unique capabilities to make a step change in productivity, quality, and efficiency. When executed strategically, making data accessible for AI/ML initiatives enables an organization to improve operations, transforming processes, payments and business models, customer and supply chain interactions.
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