How to Make the Most of Your Smart Factory Data Business
Manufacturing analytics: How to make the most of your smart factory data,Author: Rose de Fremery,Smart manufacturing is on the rise, expected to represent a . As the transition to accelerates, manufacturers are investing in technology that produces and collects vast quantities of smart factory data. However, successfully leveraging this information is trickier than it may first appear. To maximize the value of their smart factory insights, manufacturers must first understand what types of data are most useful for their business purposes and what kind of technology infrastructure enables smart manufacturing analytics. What is smart factory data, and how is it generated?,According to the , a smart factory involves the application of different combinations of modern technologies to create a hyper flexible, self-adapting manufacturing capability. These technologies include but are not limited to artificial intelligence (AI), machine learning (ML), the cloud, big data analytics, augmented reality, virtual reality, digital twins and the (IIoT). IIoT technologies will play an especially central role in the smart factory setting— are projected to come online between 2018 and 2025. For example, a manufacturer may roll out as part of a initiative to streamline workflows, alleviate labor shortages, improve safety and reduce operational costs. These IIoT devices are equipped with sensors that continuously gather key information, such as environmental conditions on the factory floor, the location of equipment and operational parameters for specific machines. Not only does this data prove useful for the use cases listed above, but manufacturers can also use them to further improve internal processes and enhance strategic decision-making on an ongoing basis. How can manufacturers use smart factory data?,Manufacturers can tap smart factory data to advance their business goals in several ways. For example, they can use predictive modeling software with AI and ML capabilities to analyze data generated from the IoT sensors on their equipment, identify anomalous trends in performance, and flag potential issues before they result in disruptive and expensive downtime. When surveyed, 24% of companies said they within the next one to two years. Once they've become proficient in applying manufacturing analytics, manufacturers can leverage smart factory insights to achieve even more ambitious business outcomes. present a particularly compelling opportunity, allowing manufacturers to create virtual replicas of specific manufacturing assets, processes or even entire factories so that they can optimize and fine-tune their performance even further. For example, aircraft manufacturers could use digital twin technology to simulate a new engine design's performance under various real-world conditions before it's physically manufactured, proactively spotting performance problems and improving safety as a result. When polled, 76% of manufacturing respondents said to their firm's priorities in the next 12 months. What technologies enable smart factory data analysis?,Manufacturers require a solid technology foundation to unlock the full potential of their smart factory insights. They need software that includes robust AI and ML capabilities to properly interpret trends and patterns in their IIoT sensor data. They must also have a strong network infrastructure to achieve near real-time insights into their processes and optimize their operations. IIoT devices, when deployed at scale, can collectively consume a considerable amount of bandwidth—and if they're placed in far-flung locations with intermittent or unreliable connectivity, they may not be able to share data promptly enough for it to be actionable. is edge computing technology that when combined with 5G, can give manufacturers abundant bandwidth and low latency, enabling data collection support for the growing numbers of 5G IIoT sensors used in smart manufacturing facilities. Crucially, 5G networks can do so at scale, growing to support manufacturers' evolving business requirements. By quickly gathering and analyzing key IIoT data from across all of their locations, manufacturers can identify when equipment is either broken or must be replaced soon. This, in turn, allows them to reduce costs associated with aging equipment while adhering to compact business and product life cycles. In the case of digital twins, they can be confident the data they're relying on is both up to date and accurate, enabling them to correctly project how a particular product or process will perform under certain circumstances. Make the most of your smart factory data,Manufacturers are already shifting toward a model, collecting large amounts of valuable IIoT data in the process. They use this information to automate workflows, perform predictive maintenance, create digital twins and enable strategic decision-making. With an informed strategy and the right smart factory technology framework, manufacturers can make the most of their smart factory data. Learn how Verizon can help you build the . Gartner®,,GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved. If you'd like to receive new articles, solutions briefs, whitepapers and more—just let us know. . * Indicates a required field. We will follow up from your contact request using the information provided. Choose your country to view contact details. Manage your account or get tools and information. These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information. These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. We use both third party and first party cookies for this purpose. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly. These cookies may be set through our site by Verizon and third parties. They are used to present Verizon advertising on third party sites that you may visit. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising from Verizon. BackClear Filters,All Consent Allowed
Learn more