For manufacturing companies, analyzing data in real-time from multiple sources can be helpful for providing valuable insights into their operations, maintenance, security controls and product quality. This goal can be achieved through streaming analytics. While traditional analytics tools extract information from data at rest, streaming analytics assesses the value of data in motion, i.e., in real-time. This is an essential foundation for Industrial Internet of Things (IoT), which includes machines and processes talking to each other through connected sensors and processes to monitor minute aspects of the operations.
Decision velocity has become increasingly important for a company’s overall operating efficiency; with streaming analytics platforms, important decisions can be made faster with better insight when there is access to real-time data. Additionally, streaming analytics can be integrated with other business applications, including information technology (IT), finance, marketing and sales, by means of customizable data dashboards. Streaming analytics also has the ability to be highly scalable for manufacturing companies, making it able to adapt and handle a high volume of data streaming without compromising performance. Using the power of data to constantly monitor assets, including both physical (plant, machinery and equipment) and non-physical (data, processes, etc.), manufacturing companies can leverage streaming analytics platforms to improve the overall costs of infrastructure and glean from time-sensitive insights.
Reducing Basic Operating Costs
Streaming analytics is attractive for many manufacturers due to its automation capability, which can help to reduce certain operating costs. For example, streaming analytics can provide real-time data on basic utility costs (electricity, water, etc.). Factories and plants can obtain access to instant insight through an automated streaming analytics tool regarding areas that could be optimized for energy costs, using artificial intelligence (AI) to respond appropriately to certain operational events.
Streaming analytics can also perform real-time predictions on upcoming equipment maintenance, helping companies to prepare well in advance for any upcoming repairs or routine upkeep. These proactive predictions can help to prolong the life of equipment while reducing the risk of potential delays in product by reducing equipment change overs and associated down-time.
Supply Chain and Production Optimization
Manufacturers depend upon their supply chain and production line, and streaming analytics can help to quickly and efficiently identify problems or issues with a product and correct them before it departs the production line. This includes ensuring the product remains at a high standard for quality and safety, and that use of materials and capacity are optimized. In addition, manufacturers can evaluate the efficiency of multiple production lines all at once and support any important decision-making for supply chain management.
Protection from Security Threats
Streaming analytics can be of great value to cybersecurity efforts by helping to identify suspicious behavior and other potential security threats in real-time. Streaming analytics can recognize potentially fraudulent activity based on pre-determined criteria, therefore, potential cyberattacks may be stopped before they occur, ultimately reducing or preventing losses associated with fraudulent activity. The same concept is also relevant for financial transactions.
DHG has the tools to help your manufacturing company choose the right streaming analytics platform to help with overall performance, efficiency, costs and predictive insights. To learn more about the benefits of streaming analytics, please reach out to us at email@example.com.