Today data and analytics solutions that leverage artificial intelligence, big data, and business intelligence are defining a C-level agenda that forms the basis for all digital transformation initiatives of players in the manufacturing industry. While manufacturers possess huge volumes of unstructured machine data, not all possess the ability to analyze and extract insights from it. But with a powerful manufacturing analytics strategy, manufacturing industry players can tap into this information, converting data into actionable insights to improve decision-making and drive revenue.
Though the data deluge may seem like a challenge, it’s crucial to note that if analyzed properly, data has the potential to become an organization’s most valuable asset. Moreover, the evolution of data is poised to accelerating owing to the evolution of Industry 4.0 and the automation of manufacturing processes. Which means to gain control of this data, businesses that operate in the manufacturing industry must leverage new technologies and advanced manufacturing analytics solutions that turn data to insights. However, the manufacturing industry has traditionally been slow to adopt new technologies and many organizations may find it difficult to fully benefit from investments in digital technologies. This article highlights how manufacturing analytics can improve operational efficiency, productivity, and create a competitive advantage by offering new business opportunities within the manufacturing industry.
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