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Manufacturers are deluged by data. As companies adopt more advanced technologies, they are increasingly overwhelmed by the quantities of raw data that must be collected, analyzed and put to use.
In fact, a new survey from the Manufacturing Leadership Council—the National Association of Manufacturers’ (NAM) digital transformation arm—reveals that 70 percent of manufacturers still collect data manually. Here are some highlights from the survey, which reveals where manufacturers need to improve, and how they’re planning to do it.
Exponential data growth: While the survey’s respondents report an explosion of new data, they also expect to keep on top of it over the next few years.
- Forty-four percent of manufacturing leaders have seen at least a doubling of the amount of data they collect in their organization today compared to two years ago.
- While many manufacturers still lack standardized data due to operating a mix of older equipment and systems along with newer technologies, more than half expect that their data will be in a standardized format by 2030.
Analytical improvements: How are manufacturers planning to use all this new data?
- Nearly 60 percent of respondents say they are focused on understanding their operations with an eye toward optimizing them in the future.
- While 30 percent of manufacturers say they are using manufacturing data to predict operational performance, another 60 percent say that predictivity will be a primary objective by 2030.
Better decisions: Manufacturers use data to make better, more proactive decisions, according to the survey. Today, these decisions are made at a relatively high level.
- Seventy-seven percent of respondents said that the responsibility to employ data in decision-making falls to plant leaders and managers.
- Only 33 percent said that factory floor employees held that responsibility—a percentage that might grow as manufacturers seek to empower frontline employees with greater decision-making ability.
Looking ahead: As artificial intelligence and other emerging digital technologies become more established, they will likely reshape many if not all aspects of manufacturing operations.
- Thanks to advanced sensors and robust data networks connecting equipment and machinery, manufacturers will collect copious data in real time and act on it almost as swiftly.
Visit https://nam.org/ for more information.
