There are only about 20 percent of manufacturers that are using data analytics to improve efficiency, increase uptime and reduce downtime. As Industry 4.0 continues to become the model, manufacturers that are not making the most of their data will have a competitive handicap.
The Big Data Dilemma
The “D” word has become one of the hottest trends in the manufacturing world. State-of-the-art sensors attached to assembly tools and production equipment are capable of collecting a constant stream of data.
The challenge for manufacturers is how to analyze that vast amount of data to gain a competitive advantage. Companies that figure out how to apply it can improve quality, increase productivity and yield, reduce costs and optimize supply chains.
Data-driven operations are critical to the future of manufacturing. However, many manufacturers are currently struggling to grasp the full value that data and analytics can unlock.