The Importance of Data in Manufacturing in 2023 

The manufacturing industry is a complex ecosystem where decisions can impact the bottom line. It’s not enough to rely on intuition or best practices; informed decision-making is a must. According to Deloitte’s 2023 Manufacturing Outlook, 60% of surveyed manufacturers ranked data analytics as a major technology they will use to increase operational efficiency. 

So, why is data from the shop floor so important? It’s where the actual production takes place, which means it’s a valuable source of information about the processes and equipment used. This data can include information about machine performance, production rates, and quality issues. By collecting and analyzing this data, manufacturers can identify opportunities to optimize their processes and improve efficiency. 

For instance, if data from the shop floor shows that a particular machine is experiencing a high rate of downtime, this could be a sign of a maintenance issue that needs to be addressed. By identifying and fixing the problem, the company can reduce downtime and improve overall production rates. 

But how can the data from the shop floor be used by the top floor? Well, it needs to be collected and analyzed in a way that allows it to inform decision-making. This often requires specialized software and systems that can collect, store, and analyze the data in real-time. Once the data has been collected and analyzed, it can be used by the top floor to make informed decisions about production planning, quality control, and equipment maintenance. 

By analyzing data about production rates and efficiency, the top floor can better plan for future production and make more informed decisions about capacity and resources. Data from the shop floor can also help to identify quality issues in real-time, allowing the top floor to take corrective action and improve the overall quality of the product. Finally, by analyzing data about machine performance and downtime, the top floor can identify maintenance issues and schedule maintenance in a more timely and cost-effective manner. 

If you’re looking for smarter, data-driven decisions, contact Konektio to learn more about how AssetMinder Impact or AssetMinder Predict solutions can help you get the data you need. 

About Konektio

Konektio is at the forefront of the rapidly expanding Industrial IoT (“IIoT”) technology sector, digitally transforming the global manufacturing industry via smart cloud-based platforms. Konektio helps industrial customers reduce energy/utility costs, track and reduce carbon emissions and monitor/maintain their equipment effectiveness via its suite of SaaS solutions. We have served a wide range of industrial manufacturing, processing, and utility customers with digital solutions for over five years with our teams having decades of experience in the industrial sector. We have customers across the UK, Europe, and the USA and are continuing to scale up our commercial activities with the recent launch of two newly developed and upgraded SaaS solutions: Predict (intelligent machine analytics and condition-based monitoring) and Impact (Energy efficiency, carbon calculations, and water/air/gas/electricity monitoring) in one single platform for use by site managers and C-level executives.

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