According to McKinsey, $11 trillion will be generated by 2025 through the digital transformation of production and the data it generates.
What are the drivers of this transformation?
- An increase in quality
- Improved operations thanks to better monitoring as well as predictive maintenance
- Greater flexibility in the face of market and demand volatility as well as supply-chain problems
But a change in infrastructure is necessary to unlock these gains.
According to McKinsey, migrating to a hybrid Edge & Cloud platform allows you to envisage more than significant gains :
- Inventory reduction which can yield between 12 and 30% ROI
- Reduction of lead time which can yield between 10 to 90% ROI
- Reduction of machine downtime which can yield between 30 to 50% ROI
What are the obstacles to industrial digital transformation?
However, when we talk about industrial data management, many difficulties remain. (Real time, Big Data, etc.), for several reasons:
- Difficulty of assessing the volume and variety of IoT data given the proliferation of data sources
- Managing the complexity of real-time data management is a challenge for many companies
- Freeing data from independent silos proves difficult with tools from another era
- Finding the right balance between Edge and cloud requires real internal reflection, reflection which often remains at the embryonic stage, because we observe a lack of knowledge around the specificities of these platforms and little time to train teams
- Moving from reactive models to predictive models induces a change in culture and practices.
- There scalability of IIoT solutions places itself at the heart of data-related challenges
- Finally, questions around connectivity to the Edge remain numerous
The obstacles are therefore legion, but are not insurmountable.
- Real-time time series data generation grows 50% faster than static data.
- Streaming analytics is expected to grow 28% annually.
It is crucial for manufacturers of think about a strategic plan and adopt these solutions to report and make the best use of their production data and benefit from this source of value which is just waiting to be exploited.
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