27 Feb
2019

Data: A Precious Ressource for Manufacturers

Can data truly become one of the most valuable resource to own? Find out how its limitless possibilities affect not only tech giants but also today's manufacturers.

Smart Factory
Technology
Data: A Precious Ressource for Manufacturers

In a world where oil has been one the most prized resource for many years, it is beginning to lose its status to another highly coveted resource: data. With net profits exceeding 25 billion dollars, digital behemoths Google, Facebook, Microsoft, Amazon and Apple dominate in terms of consumer and user data, making them tremendously valuable. Other than these, industrial giants such as GE and Siemens are now redefining their positioning as data firms. The nature of competition is experiencing a complete shift due to the plethora of data. Through data collection, companies benefit from a larger scope to improve their products, drawing in more consumers, which translates into greater amounts of data and so on. Adding on, with machine learning through artificial intelligence, more value can be extracted from this data and it can be used for forecasting or predictive purposes.

 

 

How does this translate for manufacturers?

By engaging in the shift to a smart factory with the implementation of innovative technologies, such as TileConnect smart sensors, manufacturers can collect data about the state of their production in real time. Reporting gets standardized, digitized and more precise with the greater amount of information available. Many features such as downtime, throughput, OEE and yield can be monitored by managers and executives. With different analytics tools, it allows for them to stay connected with their data and consequently make better decisions. Also, the use of artificial intelligence will permit an anticipation of a given day's output to plan shifts and productions accordingly. 

 

To read more on the power of data and its challenges, consult this article from The Economist right here

 

Want to learn more?
Download the ebook
Related blog articles

Related articles

Back to the blog
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
27
Mar 2019

La valeur de données analytiques dans votre usine

French
2
Aug 2018

How Food & Beverage Manufacturers are Using Analytics to Cut Costs

English
9
Aug 2018

Video: Top 3 Disruptive Technologies to Impact Food Supply Chain

English

Related articles

Back to the blog
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
21
Jul 2023

CDAP: $15,000 Grant To Jump Start Canadian Manufacturing Digital Transformation Projects

With the rise of digitalization in the manufacturing industry, the Canada Digital Adoption Program (CDAP) and Worximity's smart factory performance manager software suite are helping manufacturers increase throughput and reduce production costs.

English
13
Jul 2023

5 façons dont le monitoring de la production aide à réduire le roulement et à combler le manque de compétences

La technologie a un rôle important à jouer non seulement pour combler le manque de compétences dans le secteur manufacturier, mais aussi pour créer un environnement de travail positif et stimulant qui favorise la loyauté et la rétention des employés.

French
13
Jul 2023

5 Ways Production Monitoring Helps Reduce Turnover and Bridge the Skills Gap

Technology has an important role to play in not only bridging the manufacturing skills gap but also creating a positive and engaging work environment that fosters employee loyalty and retention.

English