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Smart Manufacturing in the 4th Industrial Revolution! How data matters?
19 Feb,2019
A Smart Factory is the new concept for many manufacturers across the world, of late. In the new age of the fourth industrial revolution, commonly known as Industry 4.0, data means a lot for manufacturing companies.
A Smart Factory is the new concept for many manufacturers across the world, of late. In the new age of the fourth industrial revolution, commonly known as Industry 4.0, data means a lot for manufacturing companies. Their journey of digital transformation is incomplete without the proper collection of data and execution of data to make smarter decisions and efficient production process.
Most of the manufacturers find it difficult to chalk out their digital transformation due to the information overload. Before the 4th Industrial Revolution, manual methods were used by the manufacturers to collect data and implement to achieve operational excellence.
The current scenario has been changed in the manufacturing landscape; it is very hard for the manufacturing units to cater to the growing consumer demand. The manual process collection of data is no longer a profitable thing; it is a more time-consuming process with low productivity.
The process of automation in the manufacturing sector has brought many big changes in the production process and made things much simpler and insightful. The implementation of the latest technologies and IoT has been useful and helping them gain more profits by reducing their cost and time. The implementation of technology is crucial and it is useful in enhancing the product quality without compromising with time and cost.
Let’s see how the data is important in the manufacturing sector:
Data Management Matters
Data management matters much for manufacturing units irrespective of their sizes. By using the data, the owners can make an insightful decision in streamlining the process, production, and quality. Data is everywhere, but very few know – how to use the data to make it more insightful and take smarter business decisions. And, many fail in bringing the data in data eco-system and defining the business intelligence hardware.
Many companies fail to interpret the data to take the right decision and some any fall victim of ‘analysis paralysis.’ Too much data could be dangerous for the companies as there are fair chances that they could not evaluate the data to make some business decision. It is worthy to study and evaluate a certain volume of information to find out meaningful insight out of the observations.
Data in the real-time could be more impactful for the companies and the proper data management could give them certain business to take the right sort of business decisions.
Data Visualization
Knowing the right KPI (Key Performing Indicators) is the right thing for the companies to monitor their status. In the manufacturing forecasting is one of the key aspects. By implementing the data and getting the KPIs, the companies can forecast. This will also help in goal creation and recognition and cohesiveness throughout the business.
Action-oriented Data
Companies need to find out the action-oriented data from analyzing manufacturing data. The technologies like machine learning model will be useful for the manufacturing companies to generate and send recommended data to machines for analysis and execution.
The journey of digital transformation in the manufacturing would be an easier thing with the availability and execution of the data. The companies need to follow the standard process to follow amass the dataset and execute it the data to get the desired information. This process will help them to create Smart Factory.
A Smart Factory is the new concept for many manufacturers across the world, of late. In the new age of the fourth industrial revolution, commonly known as Industry 4.0, data means a lot for manufacturing companies. Their journey of digital transformation is incomplete without the proper collection of data and execution of data to make smarter decisions and efficient production process.
Most of the manufacturers find it difficult to chalk out their digital transformation due to the information overload. Before the 4th Industrial Revolution, manual methods were used by the manufacturers to collect data and implement to achieve operational excellence.
The current scenario has been changed in the manufacturing landscape; it is very hard for the manufacturing units to cater to the growing consumer demand. The manual process collection of data is no longer a profitable thing; it is a more time-consuming process with low productivity.
The process of automation in the manufacturing sector has brought many big changes in the production process and made things much simpler and insightful. The implementation of the latest technologies and IoT has been useful and helping them gain more profits by reducing their cost and time. The implementation of technology is crucial and it is useful in enhancing the product quality without compromising with time and cost.
Let’s see how the data is important in the manufacturing sector:
Data Management Matters
Data management matters much for manufacturing units irrespective of their sizes. By using the data, the owners can make an insightful decision in streamlining the process, production, and quality. Data is everywhere, but very few know – how to use the data to make it more insightful and take smarter business decisions. And, many fail in bringing the data in data eco-system and defining the business intelligence hardware.
Many companies fail to interpret the data to take the right decision and some any fall victim of ‘analysis paralysis.’ Too much data could be dangerous for the companies as there are fair chances that they could not evaluate the data to make some business decision. It is worthy to study and evaluate a certain volume of information to find out meaningful insight out of the observations.
Data in the real-time could be more impactful for the companies and the proper data management could give them certain business to take the right sort of business decisions.
Data Visualization
Knowing the right KPI (Key Performing Indicators) is the right thing for the companies to monitor their status. In the manufacturing forecasting is one of the key aspects. By implementing the data and getting the KPIs, the companies can forecast. This will also help in goal creation and recognition and cohesiveness throughout the business.
Action-oriented Data
Companies need to find out the action-oriented data from analyzing manufacturing data. The technologies like machine learning model will be useful for the manufacturing companies to generate and send recommended data to machines for analysis and execution.
The journey of digital transformation in the manufacturing would be an easier thing with the availability and execution of the data. The companies need to follow the standard process to follow amass the dataset and execute it the data to get the desired information. This process will help them to create Smart Factory.
Take a closer look
See for yourself how our ERP and CRM Solutions help your business grow.
Learn More