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Why IIoT Manufacturers Need to Leverage Big Data and Analytics

June 12, 2018

In the manufacturing sector, it has become essential to stay competitive by making smarter and faster decisions on a wide range of industry-specific needs, such as forecasting production downtime. At the same time, U.S. manufacturers lag behind many of their foreign counterparts in using IIoT along with big data to gain an edge on the competition and achieve revenue goals.

 Why is this important? Big data (i.e., extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations) in combination with predictive analytics can help you reveal where potential weaknesses exist not only in your equipment but in your supply chain, which is highly actionable information. Ultimately, results from the data can potentially improve your company’s revenue and streamline its manufacturing process, resulting in a leaner operation.

 Three areas, in particular, shed light on how IIoT manufacturing operations are impacted by predictive analytics and big data.

  1. Predictive Problems and Maintenance Issues With Equipment

Insights gained from analyzing data can dramatically improve manufacturing performance in your company at many points along the way including equipment breakdowns and unscheduled downtime. The ability to predict when a machine goes down beforehand is powerful for the entire ecosystem of the plan operations. Imagine being able to schedule maintenance when it is convenient and cost-effective.

The best part, manufacturers can easily integrate IoT sensors with capital equipment to bring them up-to-date with today’s technology.

  1. Supply Chain Management is Enhanced by Data

Analytics can guide manufacturers to make better forecasting decisions based on what their customers are asking for now, and what they’ll ask for in the future. The data also can indicate product failures before customers experience them. With this type of intelligence, manufacturers are better able to make well-informed choices in real-time. They can optimize operating costs by reducing wasted resources and also predict the potential for experiencing downtime. But that’s not all. Big data analytics, combined with the IIoT, can:

  • Find quality problems and defects in work products
  • Predict workloads
  • Identify Inadequate staffing
  • Better Track Delivery Methods
  1. Analytics are Imperative Today and Tomorrow

Improving operational performance yields multiple benefits, so it should be every manufacturer’s goal. That’s why leveraging big data is critical. In particular, big data leads manufacturers to be more efficient with how they use and manage resources. Take product failure, for example. Some companies utilize data analytics to predict product failures before customers experience them. In many cases, actual production is handled by offshore contract manufacturers, so analytics help them zero in on where the problems surfaced without being in direct proximity to them.

Data analysis can point to when a product is most likely to fail based on factors that include:

  • Production line
  • Batch size
  • Day and month when it was made
  • Number of engineering changes
  • Consumer usage patterns
  • Demographics

In warranty costs alone, money could be recaptured by making adjustments.

  1. Predictive Problems and Maintenance Issues With Equipment

Insights gained from analyzing data can dramatically improve manufacturing performance in your company at many points along the way including equipment breakdowns and unscheduled downtime. The ability to predict when a machine goes down beforehand is powerful for the entire ecosystem of the plan operations. Imagine being able to schedule maintenance when it is convenient and cost-effective.

The best part, manufacturers can easily integrate IoT sensors with capital equipment to bring them up-to-date with today’s technology.

The urgency to adopt IIoT has never been greater. If manufacturers fail to ramp up their usage of big data and predictive analytics, they will struggle to remain competitive and will likely be unable to deliver orders that are accurate and on-time. The key is to take data and act meaningfully on its message. Customer demand for service anywhere and anytime won’t change, so we challenge you as a manufacturer to keep up with the healthy demand—and reap the rewards as a result. 

Need help to leverage IIoT to stay ahead of your competitors? Contact your MarksNelson Smart Technology professional at 816-743-7700.

 

About THE AUTHOR
At MarksNelson, we pride ourselves on our commitment to innovation and technology. This fuels our professionals' drive to work with you, not for you - bringing comprehensive and innovative solutions to the conversation and helping remove uncertainty from the outcome. >>> READ MORE
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