TECHNOLOGY
Data & Analytics : the Lifeblood of Digital Transformation
With most applications today powered and enabled by data , we discover how manufacturers can realise the true potential of data and data analytics
WRITTEN BY : GEORGIA WILSON
Digital transformation is “ the most amazing challenge and opportunity that we have in industry today ,” begins Francisco Betti , Head of Advanced Manufacturing and Production at the World Economic Forum ( WEF ).
“ It ’ s a challenge because it ' s not easy to understand , to navigate your plants manufacturing , industry 4.0 , digital transformation . But it ’ s an opportunity because we are seeing digital transformation becoming not just the enabler of the future for operations , but becoming the foundations that are allowing companies to develop and deliver new business models .
Digital transformation in manufacturing for manufacturers is at the heart of new value . We ' re seeing more and more companies that as they transform themselves through the merger of OT and IT they ' re really setting the foundations for the development of new products and for the development of new customer experiences , by topping up existing products with services or becoming service providers themselves .”
106 April 2021