Data-led Innovation In Electrical Manufacturing Industry
Electrical equipment manufacturing has been seeing a steady but consistent change over the years. The prime factors fuelling the demands are:
From the perspective of consumer behaviour, the industry or rather the big brands enjoy significant loyalty. However, that doesn’t mean customers stick to the same products. They love exploring new and flashy products that offer efficient and better performance. This, in turn, leads to some key issues such as
Some other difficulties faced by electrical equipment manufacturers are supply and fulfilment influenced, for example, sourcing difficulties, reverse-logistics tracking and plant’s operational efficiency.
To tackle these issues, leading manufacturers are turning towards technologies such as - IoT – to keep a better track of inventory stocks. Data Analytics – to make sense of the data and improve collaboration amongst internal as well as external stakeholders. And Automation – to bring in efficiency and do away with repetitive operational activities.
Data holds a significant strategic value for businesses these days and manufacturers are no different in this regard. In fact, the volume of data generated at every step in manufacturing is huge, starting from equipment operations data to inventories information (raw material, semi-finished and finished goods) to workforce plans and operations.
With the advent of manufacturing technologies, experts have pegged that data would exceedingly become important for manufacturers and its analysis would eke productivity and efficiency across various manufacturing processes.
In this guide, we are going to take a deeper dive into different Data Analytics use cases for the Electrical Equipment Manufacturers and how they can leverage analytics to make the most of their data. The broader Manufacturing Analytics use cases discussed in this guide are:
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