8 Aug
2018

The Value of Analytics in Your Manufacturing Plant

When you hear about digital transformation, smart factories or IIoT in the manufacturing industry, a key part of what propels the technology toward making tangible change is data and the use of data analytics. Read about how you can get the most of the data from your factory.

Analytics
Food Manufacturing IIoT
IIoT
The Value of Analytics in Your Manufacturing Plant

When you hear about digital transformation, smart factories or IIoT  in the manufacturing industry, a key part of what propels the technology toward making tangible change is data and the use of data analytics. In an article at called, “Making the the most of the manufacturing analytics revolution,” Tim Clark talks about analytics; what the term means, how analytics can improve the manufacturing process, and the steps you can take to get the most of the data from your factory. 
  

Analytics can be defined as “the use of mathematics, statistics, predictive modelling and machine learning to find patterns in data.” Clark explains that analytics "give manufacturers the power to convert their data into actionable insight.” The potential in analytics allows you to eliminate "supply chain problems and us[e] customer feedback to improve products in real-time.” Taken to the next level, the value of Artificial Intelligence solutions in the factory can come “from accurately and efficiently analyzing large volumes of complex data without fatigue.” 

 

 

The use of analytics enables factories to generate data over time; to make continuous improvement, to track causes of downtime, monitor downtime, performance and giveaway, and keep track of overall equipment effectiveness. Clark says, “Analytics delivers unprecedented understanding of challenges and opportunities.”  

 
Analytics have become crucial because it makes “predictive maintenance possible,” and can lead to a leaner, more efficient operation. Data analytics drawn from your plant can help identify issues more quickly and bring individuals from disparate departments together to make improvements based on quantifiable information. When this happens, Clark describes this as creating “unified ecosystem.”  
 
To find the right solution for your factory is key. Clark says, “you need an objective, whether it’s to improve performance or product quality, before investing time and resource to integrate solutions.”

Source + read the complete article.

 

 

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.
24
Jul 2018

4 Reasons to Monitor Your Downtime

English
16
Apr 2019

How to Avoid Costly IIoT Related Mistakes

English
2
Apr 2019

Smart Factory Strategies to Manage Risk During Industry 4.0 Deployment

English

Related articles

Back to the blog
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
7
Sep 2023

Mitigating Debt Servicing Challenges with Production Monitoring

Interest rates are up, and demand is down. Strapped with higher loan repayments many of today’s manufacturers are caught in the middle. Read how optimizing manufacturing operations is mitigating the challenges of debt servicing.

English
24
Aug 2023

Simplifying Adoption of Smart Technology for Manufacturers of All Types and Sizes

It's time we stopped talking about the challenges plaguing manufacturers and started focusing more on the solutions and opportunities that can help mitigate them.

English
17
Aug 2023

Weathering the Storm: Responding to Inflation's Effects on Manufacturing

There are many things that manufacturers cannot control. Such as inflation. What you can control is how you prepare for it. Companies with an eye on growth understand that these are the times to invest in technology. Read this blog to see why.

English