Long-established companies are transforming from their historically industrial, machine-focused roots into “digital industrial” companies, connecting people, machines and data via tools like networked sensors and software. By merging big data and cloud-based analytics with industrial machinery, this digital industrial approach is expected to push business operations in new directions. The ultimate is optimization: operating at the highest possible level through greater efficiency and increased operating performance.
As the adoption of digital industrial strategies and tools accelerates, companies are using analytics — targeted metrics based on specific key performance indicators (KPIs) — to uncover meaningful patterns in the data collected. But, while data provides the foundation, the analytical review tells the story of an operation. For an industrial company, using analytics can: