{"id":5770,"date":"2022-12-20T12:30:00","date_gmt":"2022-12-20T18:30:00","guid":{"rendered":"https:\/\/www.mhisolutionsmag.com\/?p=5770"},"modified":"2022-12-20T13:28:55","modified_gmt":"2022-12-20T19:28:55","slug":"big-data-and-connectivity","status":"publish","type":"post","link":"https:\/\/www.mhisolutionsmag.com\/index.php\/2022\/12\/20\/big-data-and-connectivity\/","title":{"rendered":"Big Data and Connectivity"},"content":{"rendered":"
\n

By The Numbers<\/h4>\n
\"data
DARKO 1981\/SHUTTERSTOCK.COM<\/a><\/span><\/figcaption><\/figure>\n

85%\u00a0of supply chain leaders have struggled with insufficient digital technologies in the supply chain.
\nSource: McKinsey surveys of global supply leaders, May 15-22, 2020<\/em><\/p>\n

Four out of five\u00a0supply chain leaders expect to or already use AI and machine learning for planning.
\nSource: McKinsey survey of global supply chain leaders, May 6-June 3, 2021<\/em><\/p>\n

The global industrial IoT market is expected to grow from $323 billion in 2021 to $1.3 trillion by 2032, at a CAGR of 12.2%.
\nSource: Future Market Insights\u2019 Industrial IoT Market report<\/em><\/p>\n

Data Collection and Analysis<\/strong><\/h4>\n

A 2022 Automation World survey on big data found that:<\/p>\n

71% of responding industrial system integrators report seeing a noticeable increase in client interest around data collection and analysis.<\/p>\n

98% plan to gather more data from their production systems in the next two years, but only 30% plan to do so for specific operational improvements.<\/p>\n

53% of end users say that less than 50% of their production systems or related devices are connected for data collection purposes.<\/p>\n

System integrators note that, among their clients, only 42% collect data from less than 50% of their production systems or devices.<\/p>\n

Among end users, the top three reasons cited for data collection and analysis were: improvement of specific line or equipment operations (70%), improving maintenance operations (65%) and as part of an overall Industry 4.0\/digital transformation initiative (54%).<\/p>\n

Adoption of New Technology<\/strong><\/h4>\n

In May 2022, iBASEt surveyed more than 400 manufacturing executives in the U.S and U.K, and found the following:<\/p>\n

\n

44% of respondents said recent modernization efforts have provided them with actionable data, but 19% have not harnessed any data insights.<\/p>\n<\/div>\n

\n

72% invested in new technologies during the pandemic, and 98% saw increased productivity in that timeframe.<\/p>\n<\/div>\n

\n

95% of total respondents still use paper-based processes, and more than a quarter (27%) use paper for more than half of all activities.<\/p>\n<\/div>\n

\n

Two-thirds (66%) of respondents believe the accelerated move to the cloud will unlock benefits that help drive operational efficiency. Only 8% have “no plans” to use cloud infrastructure as part of manufacturing operations.<\/p>\n<\/div>\n

\n

Nearly all survey respondents\u00a0(98%) indicate that they continue to use manual spreadsheets such as Microsoft Excel, even while taking steps toward digital transformation. In fact, half (50%) of respondents say they use these tools for “the majority” of processes.<\/p>\n

Click here to read the full feature.<\/strong><\/em><\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By The Numbers DARKO 1981\/SHUTTERSTOCK.COM 85%\u00a0of supply chain leaders have struggled with insufficient digital technologies in the supply chain. Source: McKinsey surveys of global supply leaders, May 15-22, 2020 Four out of five\u00a0supply chain leaders expect to or already use AI and machine learning for planning. Source: McKinsey survey of global supply chain leaders, May …<\/p>\n","protected":false},"author":40,"featured_media":5772,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,5,13],"tags":[2304,3655,2429,442,1902,1907,466,874],"class_list":["post-5770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-article","category-features","category-technology","tag-big-data","tag-data-analysis","tag-data-collection","tag-mhi-solutions","tag-mhi-solutions-magazine","tag-mhisolutionsmag","tag-supply-chain","tag-technology"],"yoast_head":"\nBig Data and Connectivity - MHI Solutions<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mhisolutions-digital.com\/mhiq\/0123_volume_11__issue_1\/MobilePagedArticle.action?app=false&cmsId=4064774\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big Data and Connectivity - MHI Solutions\" \/>\n<meta property=\"og:description\" content=\"By The Numbers DARKO 1981\/SHUTTERSTOCK.COM 85%\u00a0of supply chain leaders have struggled with insufficient digital technologies in the supply chain. 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