The technologies that constitute business intelligence – connected devices, data analytics, machine learning etc. – are pushing manufacturing to new heights.
The advancement is accelerating so fast that data-driven manufacturing is commonly known as the
fourth industrial revolution. By relying on large sets of data and sophisticated tools for analysis it’s possible to perfect every process, innovate across the industry, and reach previously impossible targets.
Here are nine examples of how:
Higher Overall Productivity
By closely analyzing data related to specific manufacturing processes or facilities it’s possible to identify inefficiencies and thereby maximize productivity. The effects of this are only increased when the same type of analysis is used to reduce material consumption.
Integrated Data Across Departments
Business intelligence integrates manufacturing data with data from other departments like marketing, sales, accounting, and logistics. A cooperative and transparent approach across business entities leads to better results for both the manufacturing department and the entire organization.
Improved Repairs and Maintenance
When performance data is monitored in real-time it’s possible to spot mechanical issues before they lead to breakdowns and expensive delays. Similarly, it’s possible to delay scheduled maintenance if the data suggests it would be an unnecessary expense and hassle.
Optimize Equipment Effectiveness
Combining equipment performance data with other insights related to energy consumption and output allow manufacturers to perfect the performance of essential equipment. That leads to myriad cost savings and
productivity gains.
Consistent Quality and Standards
Data allows manufacturers to identify what aspect of a manufacturing process is creating quality issues and how it can be resolved as seamlessly as possible. Overall,
business intelligence for manufacturing leads to workflows that are more visible, more flexible, and more effective as a result.
Added Efficiency
Every manufacturer deals with waste and redundancy, but the problem is so minute and widespread that it’s difficult to get control of. Business intelligence reveals where that waste and redundancy exists whether it be machines, teams, or suppliers. With this kind of capability, lean manufacturing becomes the standard rather than the gold standard.
Greater Flexibility
The introduction of business intelligence is not all that is changing about manufacturing. If and when companies or industries have to find a new approach business intelligence is an essential asset. Decision makers can draw on broad and deep sets of insights to make changes as quickly and confidently as possible.
Refined Supply Chains
The complex nature of global supply chains makes them highly vulnerable to delays, inventory issues, and miscommunications. By integrating more data and providing more visibility into data business intelligence makes effective supply chain management attainable.
Enhanced Cost Forecasting
Calculating exactly what to charge is an uncertain process with heavy consequences. Business intelligence ensures these decisions are informed by empirical insights and factored into other business concerns. Manufacturers are put in a position to secure the highest prices possible without jeopardizing deals. As this capability advances it will become possible to shorten the sales cycle significantly.
Business intelligence is already revolutionizing how the biggest manufacturers operate. And now that the attendant technologies have matured and reached the mainstream, data-driven insights are available to a much wider swath of manufacturers. Concerns about cost and complexity have been resolved for even the most tech-averse manufacturers.
The present is exciting, but the future is where the biggest opportunities are. As business intelligence continues to get more advanced and more evolved it will become integrated into everything manufacturers do. No detail or decision will go forward without being studied through the lens of business intelligence. That may sound like a big obligation, but in fact, it’s a massive opportunity.
