The most critical element defining the success of IoT implementation in the manufacturing verticals

Everything in the modern world is interconnected. Estimates are predicting a whopping 50 billion interconnected devices within IoT by the year 2020. In the last few decades data volumes in manufacturing systems have exploded, but it has not been wholly utilized. Insufficient compute power, storage and machine learning technologies have hindered transforming this data to actionable insights. The data also comes from a number of sources from sensors on assets to real-time data from logistics, sales and marketing systems. Many of these sources also use different methods of data collection which poses a challenge for analysis.

Big data and advanced analytics will have a definitive impact in addressing many of these challenges. The dramatic advances in computing systems have helped manufacturers to collect, store and analyze huge amounts of data in real time to uncover new insights. With Big data analytics, manufacturers can discover new information and identify patterns that enable them to improve processes. They can use this information to dynamically optimize their tactical planning, make better strategic decisions and meet countless other goals to improve productivity and profitability.

Leveraging data driven manufacturing

Generating actionable data that improves the overall process is a major advantage of applying analytics to manufacturing. Manufacturing data analytics are helping manufacturers  –

• to improve and streamline their operations by turning the information gathered through the network into cost-saving actions.

• to delve into historical process data, identify patterns and relationships which will help improve the factors that have the greatest effect on productivity.

• to gather information from multiple data sources to uncover new ways of optimization, from the sourcing of raw materials to the sale of their finished products

• to study error rates on the production floor and use that information to assess specific areas where employees excel and where they are under-performing.

• to solve previously unknown problems such as hidden bottlenecks or unprofitable production lines. Predictive analytics allow the company to calculate the probabilities of delays.

• to analyze the behaviour of repeat customers which is critical to understanding how to deliver goods in a timely and profitable manner.

• to improve the inventory and manage the warehouses better.

The field of big data management is currently going through explosive growth and development. In todays complex and competitive world, companies must find a way to improve efficiency and generate insights, and Big data analytics provide the right edge to succeed. With the help of proper data integration and management platforms, manufacturers will be able to leverage their data’s strategic value, improving operations, increasing profits and strengthening relationships with stakeholders. Making Big Data work is the most critical element in defining the success of IoT implementation in the manufacturing verticals, and the time to get data analytics tools to unlock the potential in your data is right now.