Data Analytics are qualitative and quantitative methods and processes used to convert information collected during the manufacturing process into a form that that will help to inform decision making with a view to enhance productivity and efficiency. Most Tier 1 and large OEM companies have in-house data analytics capabilities. The challenge is to encourage mid-level companies and SMEs to adopt the state-of-the-art IoT, connectivity and communication protocols which would enable them to harness the data generate during the manufacturing process to improve their productivity and business gains.
A real opportunity is the development of smaller and cheaper smart sensors, the miniaturisation of data collection units and the development of onsite processing, which would enable prompt decision making and reduce the connectivity costs and cybersecurity issues associated with connecting to 4G/5G/satellite/the cloud. Also it would help where internet connectivity is physically difficult, either due to availability or location.
The report is available for download at the link below.