Allows You to Assess Your Own Progress with Technology
A recent research study of more than 200 manufacturing executives conducted by London-based Longitude Research, on behalf of Siemens, has been released, revealing two distinct categories for U.S. manufacturers along the path to adopting digitalization -- "the efficiency experts" and the "revenue re-inventors."
As part of the study, manufacturers are able compare their own digitalization status amongst their industry peers through a benchmark online survey.
The study evaluates manufacturers' digital capabilities across core dimensions using their relative progress to provide an overall score. Capabilities measured included data intensity, connectivity, adaptability, integration, security and people. As part of the project, a comprehensive set of soon-to-be-released mini-reports were developed based upon several key sectors, including aerospace, automotive, and others.
According to the report, rather than one single technology, though, digital is diffuse -- spanning data and analytics, cloud computing, the Internet of Things and more.
"Efficiency experts" are noted as pushing hard and fast on digital technologies such as connected sensors, virtual training and artificial intelligence, with the motivation of embracing this approach being to increase uptime and efficiency and to keep their employees safe -- in essence, to do what they do, but faster and cheaper.
By contrast, "revenue re-inventors" identify themselves as both financially and digitally ahead of their peers, and find motivation for digitalization in opening new markets and reinventing themselves and what they sell.
"It's probably not surprising to see mid-sized companies delay in embracing new technologies, but even Fortune 500 companies sometimes hesitate based on various barriers," as quoted by Raj Batra, President, Siemens Digital Factory Division, U.S. in the report. "Companies are aware that digitalization is driving industry forward and that it is essential in long-term strategy and planning to remain competitive in a global economy. Innovation and technology available today will enable a digital path to success," he added.
Some key highlights:
For more information and a copy of the full report, click below.