Manufacturers are using enterprise manufacturing intelligence solutions to monitor and record data from floor and convert them into actionable insights for decision making. The data is used to make process improvements and use right combination of applications that helps to streamline process flow.
This technology is taking the manufacturing ecosystem by storm as the whole of Europe is investing in it generously. As per a report by Infoholic Research, Europe Enterprise Manufacturing Intelligence (EMI) Market to reach at a CAGR of 18.3% to aggregate $2,780.7 million by 2022.
Now lets catch on with the features, benefits and trends of Enterprise manufacturing intelligence:
Basic features of enterprise manufacturing intelligence applications:
- Integrates business applications: The solution provides a comprehensive way to monitor and improve the efficiency of manufacturing processes. It analysis the key constituents like availability, performance, quality and further helps to take strategic decisions.
- Planning and scheduling: Helps manufacturing companies to track execution schedule and compare them with the original plan. Any malfunction in system are immediately notified and reports are sent to the relevant department. This process helps to avoid production deficit and perform a comparative analysis between planned and actual execution.
- Data model: It plays a critical role in standardizing applications that provide an interface for connecting different production processes. It helps to collect, aggregate and analyze production data in an organized manner by creating centralized portal.
Benefits of adopting enterprise manufacturing intelligence applications:
- Streamlines reporting system: Integrates multiple sources of information in a single report allowing enterprises to highlight different trends across the enterprise.
- Automates Operations: Creates a reporting system which delivers required information to right department at the right time.
- Shorter implementation time: Provides better return on investment in lesser implementation cycles and the cost of ownership is less.
- Can generate hundred of reports: Enterprises can perform their own analysis by generating ad hoc reports which can give idea about how different departments are functioning.
- Problem solving: Interacts efficiently with multiple data sets and can quickly get to the root cause of problems.
Future industry trends that are driving the enterprise manufacturing intelligence market:
Trend #1: Deploying current data
Enterprises are looking to deploy current data first which will help to start analyzing most recent information while the system will be continuously restoring the data with historical information.
Trend #2: Improved data handling capabilities
The application will transform data in the most optimized and robust manner with the ability to achieve advanced performance and response time.
Trend #3: Support multiple servers
The applications will help follow different procedures of data source supporting different dimensions and measures.
Trend #4: Customized query handling
The applications will support to generate custom queries and filter data at the source.
Trend #5: Access to data in real time
The application will provide direct access to underlying intelligence data from sensors, alarms and other devices.
Trend #6: Scheduled and periodic refreshing of application
The applications are programmed to automatically refresh and measure different dimensions of data which helps to reduce the impact on the source system.
The enterprise manufacturing intelligence solutions enables enterprises to visualize and analyze their overall operational performance. It providing enterprises with powerful data analysis, reporting and monitoring tools. It further performs complex analytics and provides detailed reports on production counts, process capability, costs, quality asset utilization and key performance indicator metrics.
Infoholic Research, a Global Research and Consulting Firm understands your requirement and is equipped to serve you on every aspect of market research and consultation on enterprise manufacturing intelligence. Contact us for more information.