7 November 2019

The potential of Data Analytics and Artificial Intelligence in the Manufacturing Industry

How to use Artificial Intelligence in Mananufacturing to support decision-making?

How can we better understand production and the supply chain to improve planning and control production?

How can you perform preventive maintenance to structure an efficient industrial diagnostic system?

Like other industries, the Manufacturing Industry has much to gain from using technology. Industry 4.0 is now a reality and the natural way to increase competitiveness and productivity within the sector.

New business models, process optimization and increased production profitability are some of the benefits achieved through Data Analytics.

Today, with the advancement of Big Data, Artificial intelligence and Computing, the manufacturing industry is increasingly customised, automated, and there is a tendency to massify the production line while under tremendous pressure to lower the production costs. Using Big Data, the organizations from this industry can reduce industrial process failures, improve production quality, reduce errors and increase efficiency. Naturally, these benefits translate into smarter business, greater competitiveness and, as a result, increased profits.

Manufacturers must improve productivity and make processes more efficient to increase profit margins and achieve greater competitive advantage in the global marketplace.

Knowing customers is crucial because they are more informed and demanding about product prices while demanding high-quality service and differentiated after-sales support.

Therefore, Data Analytics gives access to key KPIs to monitor production, deliveries via sales and distribution centres and reduce errors and delays on production lines. This gives quick access to intuitive, real-time reports which let you monitor key indicators in real-time. Also, the right technology solution enables to create alerts to act immediately on any unexpected situation, that could compromise production, and consequently, timely deliveries to the customer.

Increasingly aware of effective data analytics benefits, decision-makers recognize the benefits for the entire value chain. According to LNS Research and MESA International, producing better products and production forecasts (46%), understanding plant performance across multiple metrics (45%) and providing faster customer service and support (39%) are the top three areas where Big Data Analytics software can improve factories performance.

One of the trends points to the manufacturing industry is the use of collaborative robots that can perform jobs alongside the human being in the production line, which allows to increase the safety of collaborators and simultaneously, increasing productivity. According to a Markets & Markets study, the collaborative robot (Cobots) market is expected to reach 12,3 billion dollars by 2025.

When we talk about data, we mean data that translates into insights, which together with the most disruptive technologies and Artificial Intelligence tools, will bring more benefits to the entire value chain and product lifecycle: from design, maintenance, production, innovation and logistics.

Industry 4.0 is here to help organizations increase productivity, create new production forms and gain more flexibility and efficiency.

Have you thought about how you are responding to current market and customer changes? What are your organization needs to respond to the digital transformation?

analytics manufacturing