Manufacturing analytics: $6T opportunity [2020 update]

There has been sustained excitement about IOT and the data capabilities it will bring to industry. In 2013, McKinsey&Company had predicted that IOT would bring $3-6T economic impact in 2025.

With margins getting smaller and competition getting more intense, manufacturing companies are getting smarter about how they can become more productive in order to become more profitable. Manufacturing analytics is one of the most effective ways to do so.

Sometimes called the 4th industrial revolution, manufacturing analytics analyze the historical performance data of machines in order to forecast their future; and their failure. And with technology and the environment to support it evolving rapidly, there has never been a better time to get started. Read more

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In-depth Guide to Predictive Maintenance Tools [2020 update]

Manufacturing has evolved. Organizations no longer need human intervention to manage every aspect of manufacturing. Today, an increasing volume of industrial activities are supported by robots, artificial intelligence (AI) and other modern technologies that enable organizations to get the most from every efforts.

With this growth and change, comes an evolution in the tools that are designed to support it. Some of the biggest changes have been seen our methods for keeping our different components functioning, and functioning well, for longer periods of time. Read more

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Predictive Maintenance: In-depth Guide [2020 update]

Are you working for an industrial company that is discarding most of its data? Are you wondering whether that data is valuable? We can help you decide.

Advanced equipment such as Internet of things (IOT) and Industrial Internet of things (IIOT) and robots are generating more data than ever before. However factories’ analytics capabilities have not caught up to this. According to Fero Labs  manufacturing companies discard 98% of all the data they can collect because they do not have the operational analytics capabilities to integrate that data in their operations. Read more

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Predictive vs Preventive: In-depth Maintenance Guide [2020 update]

As you can see above, if setting up analytics is not more costly than reduced uptime, then predictive analytics is the solution.

Let’s look at why. Most executives are not clear on how predictive is different than preventive maintenance they have been conducting for years. Both approaches aim to prevent unexpected breakdowns, increase uptime and useful life of machines. However, they have different cost structures and they require different capabilities from the organization.

Let’s start with the definitions to clarify misunderstandings: Read more

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