Investing in manufacturing analytics solutions is the stepping stone to revolutionizing the enterprise with advanced technologies. Here, we’ll discuss the importance of managed analytics and the top solution providers offering manufacturing analytics in the USA.
Industry 4.0 has revolutionized the manufacturing industry by bringing advanced technologies like artificial intelligence, big data analytics, machine learning, generative AI, etc., to unlock the power of manufacturing data and use it to make faster and better decisions. Manufacturing enterprises are adopting the technologies to reduce the risk of uncertainties and minimize disruptions to production, supply chain, and logistics.
The ReportLinker said that the manufacturing analytics market is likely to reach $22.7 billion by 2027 at a CAGR (compound annual growth rate) of 22.8%. According to a report by Imarc Group, the global manufacturing analytics market size was estimated at $12.8 billion in 2023 and is predicted to reach $60.5 billion by 2032 at a CAGR of 18.2%.
While North America is the largest region, Asia-Pacific is the fastest-growing region adopting manufacturing analytics. Software and service are the two main components of manufacturing analytics. Software refers to business intelligence and data analytical tools, whereas service implies the role of third-party analytical solution providers. They offer end-to-end manufacturing analytics services to help manufacturers adopt data-driven models in the enterprise and use business data to derive real-time insights for effective decision-making.
Let’s read more about manufacturing analytics and the top service providers in the US.
The use of data analytical tools to collect, store, clean, process, and analyze manufacturing data is known as manufacturing analytics. It helps reduce downtime, improve production and performance, enhance customer experience, make proactive decisions, understand market conditions, and increase ROI.
From eliminating bottlenecks during production to streamlining the supply chain and transportation, it can help an enterprise gain complete control over its processes. Cloud-based analytics for the manufacturing industry are used to monitor KPIs (key performance indicators), identify revenue streams, eliminate errors, and handle risk effectively. In short, manufacturing analytics have a versatile and diverse role in the sector.
So, what insights can you provide with analytics to the manufacturing industry?
A few examples are as follows:
Many consulting firms offer services to implement and customize BI for manufacturing analytics and insights. We’ll look at the top service providers in the next section.
DataToBiz offers comprehensive managed manufacturing analytics solutions for MSMEs and large enterprises in the industry. It has clients from various continents like North and South Americas, Asia, Australia, Africa, and the Middle East regions. The award-winning company empowers enterprises by sharing actionable insights about manufacturing operations, logistics, resources, machinery, assets, etc. From identifying KPIs to tracking them through customized dashboards, the team follows a systematic approach to streamline the process and share real-time insights.
DataToBiz also provides manufacturing data governance services to collect, store, clean, and update enterprise data as per the data security and data privacy regulations. Identify gaps in the supply chain, increase OEE (overall equipment effectiveness) score, control overhead costs, and improve production efficiency. It also uses generative AI and LLMs (large language models) to enhance manufacturing processes.
The company is a certified partner of Google, AWS, and Microsoft. It helps manufacturers gain greater transparency and become sustainable in the long term. It also provides automation and IoT-enabled (Internet of Things) analytics to promote greater flexibility, scalability, and agility in the enterprise. DataToBiz offers end-to-end integration services with Industry 4.0 technologies to help manufacturers increase ROI and revenue.
DiLytics is a pure-play analytics company with expertise in offering cloud and on-premises data analytics services to businesses from different industries. It provides end-to-end spectrum services, ranging from strategic consultation to implementation and managed solutions for manufacturers with diverse requirements. The company has a plethora of plug-and-play tools to offer managed analytics for supply chains in manufacturing and other department-based requirements. Moreover, it works with private and public sector enterprises.
DiLytics categorizes its services into three aspects – think, build, and run. While strategy, roadmap, audit, and technology evaluation belong to the ‘think’ category, self-servicing analytics, predictive analytics, system migration and upgrades, etc., fall into the ‘build’ category. Testing and long-term maintenance support are a part of the ‘run’ solutions. The cross-functional analytics offered by the company help eliminate bottlenecks, improve inventory management, and get better control over the finances and resources. DiLytics also implements custom warehouse solutions for large-scale manufacturers.
ThirdEye Data is a data analytics and AI company that enables enterprises to increase production accuracy and gain operational efficiency by leveraging advanced technologies. The company offers customized BI for manufacturing processes, along with ChatGPT-based insights and AI/ ML automation to empower businesses. It helps clients make informed decisions with effective data engineering services. The company specializes in building bespoke smart factories with AI technologies to empower enterprises to tackle real-world problems using data-driven solutions.
ThirdEye Data follows a step-by-step process to build AI applications and integrate them with enterprise systems. Aspects like data security and compliance are given importance. The company also provides scaling, monitoring, and maintenance services for clients. Predictive analytics, supply chain management, and quality control are some manufacturing services offered by ThirdEye Data. The company has ISO 27001:2013 and SOC 2 Type 1 certifications. It is a Microsoft Silver Partner and has the necessary experience to help enterprises achieve digital transformation on any scale.
Indium is a fast-growing digital engineering company that builds next-gen cutting-edge technologies to help businesses achieve their goals. It works with Fortune 500 and Global 2000 companies in various industries. It has also partnered with industry leaders like AWS, Databricks, etc., to help enterprises use the latest tools and technology for digitalization. The company offers customized managed BI solutions for smart factories without disrupting the existing workflow in the enterprise. It helps manufacturers understand the challenges of finding effective long-term solutions.
Indium provides digital manufacturing and operational solutions such as IT/ OT convergence, data insights, twin-centric architecture, industrial IoT sensor installation and connectivity, predictive analytics, intelligent asset management, Industry 4.0 adoption, inventory management, transportation management, etc. The company provides continuous support through its business-first approach to help manufacturers achieve digital expertise and sustainability.
Emorphis is a software and analytical solution provider with an extended development team to work with various businesses and enterprises from a range of industries. It offers cloud computing services, product engineering, salesforce consulting, etc., to build, customize, and deploy world-class software. The company helps clients unleash the potential of AI/ ML to make the most of the technologies to drive efficiencies and elevate user experience. The edge computing solutions by the company can be used to derive real-time insights and make data-driven decisions.
Emorphis helps manufacturers embrace future technology like robotics to shorten production cycles and accelerate processes. Automation, asset management, industrial IoT installation, smart manufacturing, manufacturing data warehouse services, etc., are offered by the company. The award-winning company offers full-time access to resources with an hourly-based payment system. It empowers manufacturers to use data and analytics to derive different insights and stay ahead of competitors.
There are many examples of managed analytics in manufacturing. A few are listed below:
So, what are other examples of predictive analytics in manufacturing?
Predictive analytics is the process of using mathematics, statistics, and machine learning algorithms to identify the probability of the occurrence of an event or determine future trends, patterns, opportunities, and behaviors. Manufacturers use predictive analytics in the following ways:
Manufacturers need to invest in analytics to digitally transform their processes. Adopting smart factory technologies makes it easier to survive market competition at the local, national, and international levels. It allows enterprises to become sustainable, productive, and efficient in all areas.
Find a reliable managed analytics solutions provider who understands and aligns with the business vision. This reduces friction and helps establish long-term relationships with the business partner. Achieve higher ROI and customer experience with managed manufacturing analytics.
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