TECHNOLOGY
capabilities , Fendri explains that “ data collection is one thing , but there ' s also a lot of processing of the data , the cleansing of the data , and also being able to generate insights and make meaning out of this data . These capabilities really need to be in place either within the organisation or by partnering with experts .”
Technological 1 | Implement an open platform to unlock data silos With many applications requiring bidirectional data flows from different companies or different systems within a company , BCG and WEF explains the complexity in achieving this due to data often being stuck in silos . “ A cloud‐hosted platform helps companies overcome this barrier by facilitating the sharing of data both within the company and across company boundaries with suppliers , customers and other ecosystem partners .” Complementing the report , Fendri adds “ If we want to unlock data silos and we think of hyper-connected value networks , open platforms allow for this information flow either within a company ' s boundaries or across a company ’ s boundaries .”
2 | Enable connectivity for low‐latency , high‐bandwidth data flows In addition to many applications requiring bidirectional data flows , many also need uninterrupted , low latency , highbandwidth data transfers , specifically continuous wireless connectivity is crucial for autonomous decision making . “ Wireless connectivity allows companies to have highly flexible factories within which they can easily adjust the layout . It also makes it possible to constantly connect mobile assets and goods to a central platform , enabling an uninterrupted stream of data .
In addition , wireless connectivity is a key enabler for the plug‐and‐play use of sensors and cameras , which can be used to upgrade older machines ,” states the BCG and WEF . Emphasising the importance of connectivity , Betti adds , “ connectivity across the entire organisation is not a negligible point . Connectivity remains a challenge for many global companies , especially when you have facilities in both developed and developing countries .”
3 | Ensure data security and privacy “ Data , data security and privacy is really the most important one ,” says Fendri . “ Preventing data breaches , knowing also how to protect sensitive data so that you don ' t lose competitive advantage , as well as preventing the misuse of data you need to be able to
116 April 2021