It is no new news that the Big Data and software analytics have had a huge impact on the modern industries. There are several industry disruptors that have surfaced in the past few years and totally changed the lives of all connected humans. Like Google, Tesla and Uber! These are the companies that have used the long list of benefits presented to us by Big Data to expand and infiltrate newer markets, they have helped themselves improve customer relations and enhance their supply chains in multiple segments of market.
As per the latest IDC Research projects the sale of Big Data and analytics services will rise to USD 187 billion in 2019. This will be a huge leap from the USD 122 billion which was recorded in 2015. A major industry that stands to benefit greatly from this expansion which is the manufacturing industry, with the industry revenue projections ranging to USD 39 billion by 2019.
The industry of manufacturing has come a long way from the age of craft industries. But back then, the manufacturing process involved a slow and tedious production processes which only yielded limited amounts of products.
Automated processes along with mechanization have resulted in a generation of large piles of data, which is, much more than what most manufacturing enterprises know what to do with them.
But such data can yield beneficial insights for the manufacturing units to improve their operations and increase their productivity. Here are a few notable ones:
Big data analytics can really help transform the manufacturing process and revolutionize the way they are carried out. The obtained information can be used to reduce the cost of production and packaging during manufacturing.