TECHNOLOGY
" In the longer term companies will seek to build more resilient , more productive manufacturing and supply systems , and 68 % plan to accelerate their data and analytics efforts in the next 12 months "
DANIEL KÜPPER / STEPHAN BLOEMPOTT MANAGING DIRECTOR & PARTNER PROJECT LEADER AT BOSTON CONSULTING GROUP ( BCG ) in which companies will operate , and will be powered and enabled by data .”
When asked why hyper-connectivity is needed , Betti comments “ it allows you to develop efficiencies , improve performance , increase productivity and reduce costs . At the same time it allows you to think beyond your operations , to think about how you are engaging with customers and delivering value . This concept of connected value chains and hyper-connected ecosystems in which companies operate I think will be key when it comes to the future of manufacturers and digital transformation .” Echoing Betti , Fendri adds , “ as we now think of more hyperconnected value networks and supply chains , there needs to be an end to end flow , and that is a flow of data and information . So that ’ s really at the heat of the digital transformation , manufacturing and supply system .”
UNLOCKING DATA ’ S VALUE IN MANUFACTURING Outlined in a white paper produced in collaboration between Boston Consulting Group ( BCG ) and the World Economic Forum ( WEF ) – Data Excellence : Transforming manufacturing and supply systems – the two companies identify three core values that the manufacturing industry can gain from effectively using data and data analytics within its functions and operations .
The paper begins by saying that “ manufacturing companies capture value from data and analytics using different mechanisms ,” such as creating transparency in complex problems , predicting future developments , and autonomous decision making . Those that are successfully implementing cutting‐edge data and analytics applications and have developed effective data ecosystems are unlocking value in three ways :
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