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BIG DATA IN MANUFACTURING
A COMPASS FOR GROWTH Jo-Anne Ruhl, General Manager, Pacific, Infor
Embracing the power of big data can help manufacturers be more competitive and improve efficiencies.
D
ata has long been the essential lifeblood of manufacturing, driving efficiency improvements, reductions in waste and incremental profit gains. But today a new breed of big data analytics is taking over manufacturing and providing a totally new dimension to the value of research and trend analysis. Now, data is no longer being used for reporting past activities; it’s helping manufacturers predict future events, foresee risk, understand their extended value chain and enhance the customer experience they deliver. Data has grown up, with new multidimensional capabilities and broader horizons. It’s like a compass, pointing the way for manufacturing growth.
What’s driving big data? Big data is quickly becoming an important element of the fourth generation of ERP technology. Today, fourth-generation ERPs are transforming outdated manufacturing facilities into highly automated, efficient powerhouses. Big data’s ability to engage data, people and processes is helping to create a new era for manufacturing. Whether you call this new era the ‘factory of the future’ or the ‘connected enterprise’, there are two elements driving the transformation: innovative mindsets and data.
30 WHAT'S NEW IN PROCESS TECHNOLOGY - AUGUST 2015
Manufacturers now have access to more resources for data capture and tracking than ever before. Data is coming from traditional sources, like the classic customer survey, as well as more innovative applications, like smart sensors and the use of the Internet of Things (IoT) to capture machine readings. Managers throughout an organisation can access real-time data for every aspect of the products being manufactured, from warranty claims to cycle times and inventory counts. In fact, the volume of data available is so vast that it can quickly become overwhelming and cause data paralysis. In spite of this, manufacturers are beginning to realise the value of big data. According to a recent report by Pierfrancesco Manenti, The Digital Factory: Game-Changing Technologies That Will Transform Manufacturing Industry, 47% of manufacturers expect big data analytics to have a major impact on company performance — making it core to the future of digital factories — while 49% expect advanced analytics to reduce operational costs and utilise assets efficiently. Additionally, manufacturers are putting their investment dollars on the line for big data, too. According to the TechTarget 2015 IT Priorities Survey, 31% of the 2212 respondents worldwide said their
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