TECHNOLOGY
Challenges for realising value
In our survey , companies listed the following top three challenges : insufficient digital skills and capabilities ; data-security and privacy concerns ; and complex internal governance and processes . These issues derive from the fact that organizational and technological enablers linked to the six priorities above are often not in place . Beyond that , many companies struggle in identifying the right , value-adding use cases to capture value in the three areas of increased productivity , enhanced customer experience and a positive impact on society and the environment . few of them who have clear roadmaps , and have the buy in from the top management to make digital transformation a reality and be able to leverage data and analytics at scale , across the entire organisation . We often see companies being successful in transforming one specific facility , but I think that it ' s taking that to the next level and transforming that scale is the other challenge ,” explains Betti .
“ What we ' ve noticed is that this really needs to be purpose driven ,” adds Fendri , “ you need to define what is the right application that you want to implement for your intended purpose and see how data plays a role in there , and that is often the main driver for success .”
I think that there ' s a huge promise there within the broader framework of this concept of stakeholder capitalism .”
Applications to have a positive impact on society and the environment Data sharing for traceability along a supply network , or using algorithms to predict and improve energy efficiency [ Küpper and Bloempott ].
SIX PRIORITIES TO UNLOCK THE VALUE OF DATA IN MANUFACTURING With the value to be had in harnessing data in manufacturing identified , BCG and WEF outline three organisational and three technological priorities for organisations to focus on in order to realise such value .
Organisational 1 | A clear data-to-value strategy and road map “ When you talk to many companies still today , not all of them have a clear view on what they can deliver , still there are only a
2 | Incentivise internal and external ecosystem partners In BCG and WEF ' s report , the two draw attention to the need to work in a collaborative way with your internal and external ecosystem . “ You need an ecosystem ,” comments Betti , “ whether it ' s because you want to develop new applications and therefore need access to startups and innovations who may be working on the latest state of the art technology that can leverage data , or whether it ' s because you need data that you may not have , collaboration on that front can help a lot .” Betti goes on to explain that ecosystems can also help to scale up innovation , you need to be partnering with the broader ecosystem to open up your eyes , and be able to first , benchmark yourself but also come up with a new innovation strategy and develop the next generation of data-driven applications .”
3 | Build capabilities to capture and use data In order to build and maintain data and analytics applications , “ companies need a
114 April 2021