Once largely the domain of back-office functions, analytics has evolved to play a much more strategic role for industrial companies.
Production and all related processes are more data intensive than ever, and so have become rich sources of critical insights. By mining those insights, organizations can improve the performance of their core business—and generate new sources of revenue. Thanks to intelligent software embedded right across the manufacturing value chain, industrial equipment manufacturers, for example, can analyze machine performance in real time to pre-empt potential problems and limit costly downtime.
Similarly, Original Equipment Manufacturers (OEMs) can analyze diverse streams of data to develop relevant, location-based customer services and customized offers for individuals.
- On-demand analytics platforms allow the swift compilation, formatting and cleansing of the heterogeneous data streams—both structured and unstructured—that comprise Big Data.
- Less time needs to be spent on integrating and reporting, and more can be spent on actually analyzing: winnowing out irrelevancies and focusing on the small but critical amounts of information that can generate true insights about customers, operations or channels.
Analytics solutions are also significantly more sophisticated. Yesterday’s descriptive analytics helped quantify and confirm what has already occurred. Today’s more advanced, predictive analytics help companies understand what will happen in the future. Seeing trends as they develop allows manufacturers to seize new opportunities as they occur, or even to get ahead of them. It also helps keep customers happy—and saves money.
In short, by leveraging analytics as an embedded capability, throughout the value chain, industrial enterprises can improve entire global ecosystems of suppliers, facilities and logistics, as well as respond to shifts in customer needs and behavior, and to emerging trends in market demand and supply.
Reaping the rewards of analytics can be challenging, for sure. And our work with healthcare and industrial companies has identified a number of hurdles that limit widespread adoption. Even so, many C-suite executives are exploring ways to make data flow more easily, quickly and usefully through their enterprises.
According to Accenture, exceptional customer experience is a top 3 priority of 86% of industry executives.
We encourage you to dial up an experienced partner who can see your data and planning analytics priorities and opportunities from a different and wider perspective. If you see you’re getting bogged down and behind your rapid deployment objectives curve, just email or call us at 512-478-3848. We can listen to understand your needs.
And we could very well be a great match to partner with you and catapult you up to the top of your big-data scaling up process, custom applications deployment and your business intelligence wave.