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IDC Manufacturing Insights Shines Spotlight on Current Application of Big Data Analytics Across Manufacturing Segments

July 22, 2014

New research to help manufacturers leverage BDA effectively to maximize impact on organization

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- IDC Manufacturing Insights today announced a new report that shines a spotlight on the current application of big data and analytics (BDA) across manufacturing segments, and identifies some of the ways in which leading manufacturers are approaching BDA to maximize its potential. The report, Business Strategy: Making Progress with Big Data and Analytics in Manufacturing, (Doc #MI249407), will help manufacturers to understand the business value their peers expect as they capture and analyze a variety of data across the enterprise.

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    "The purpose of this report is to help manufacturers understand where other manufacturers are expecting to derive value from BDA today and what applications are receiving the greatest attention," explained Kimberly Knickle, Practice Director, IDC Manufacturing Insights. "Manufacturers can use this report when considering their own big data and analytics strategy and approach, using the information here to further drive BDA adoption."

    Big data and analytics continues to gain attention from leading manufacturers, and the volume and variety of data being captured and analyzed is growing at astonishing rates. The promise of better and faster data-driven decision making has pushed BDA technology to the top of executive agendas. Many organizations, however, do not yet have the capabilities to address the range of technology, staffing, and process requirements needed to capitalize on big data assets and to deploy analytics pervasively. This IDC Manufacturing Insights report takes a closer look at how manufacturers are addressing BDA challenges and opportunities. The core question manufacturers must address is how to leverage BDA effectively to maximize the impact on their organizations and their value chains.

    Key findings from the report include:

  • According to IDC's 2013 Global Technology and Industry Research Organization IT Survey, nearly 51% of respondents expect to generate new revenue streams from BDA projects, while 36% expect to increase operational efficiencies from big data initiatives.
  • There are many different approaches for manufacturers to leverage the potential of big data and analytics, some of which will be specific to the industry segment in which they compete. Survey results highlight the ways in which different manufacturing value chains are choosing to apply BDA to their unique business challenges and opportunities.
  • As manufacturers build the systems for capturing the right combinations of structured and unstructured data and applying analytics tools to move the needle in real time, the results of BDA investments will be seen across manufacturers' value chains as they increasingly become demand oriented, data driven, and digitally executed.
  • Ideally, manufacturers should recognize BDA as an enabler for providing a picture of what has happened, what is happening right now (real-time or near-real-time info), and what will happen tomorrow and in the future.

    According to IDC Manufacturing Insights, BDA will remain one of the top investment priorities for manufacturing organizations of all sizes for the foreseeable future. Today, there are some encouraging examples where the intersection of BDA with other 3rd Platform technologies creates new opportunities for companies to improve productivity, speed, quality, innovation, and resiliency. For example, from a BDA perspective, IDC Manufacturing Insights sees opportunities for manufacturers to enhance their product innovation cycles by engaging in visual decision making and optimizing product economics. In the supply chain, BDA is driving better segmentation and integrated planning. And in operations, the rise of BDA-driven manufacturing intelligence ultimately supports the factory of the future. As manufacturers build the systems for capturing the right combinations of structured and unstructured data and apply analytics tools to move the needle in real time, the results of BDA investments will be seen across the value chains.

    To arrange a one-on-one briefing with Kimberly Knickle, please contact Sarah Murray at 781-378-2674 or sarah@attunecommunications.com. Reports are available to qualified members of the media. For information on purchasing reports, contact insights@idc.com; reporters should email sarah@attunecommunications.com.

    About IDC Manufacturing Insights

    IDC Manufacturing Insights assists manufacturing businesses and IT leaders, as well as the suppliers who serve them in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing asset intensive, brand oriented, technology oriented, and engineering oriented manufacturing industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc-mi.com, email info@idc-mi.com, or call 508-988-7900. Visit the IDC Manufacturing Insights Community at http://idc-community.com/manufacturing.




    IDC

    Allyson Hughes, 508-935-4546

    Project Director

    ahughes@idc.com

    or

    Attune Communications

    Sarah Murray, 781-378-2674

    Partner

    sarah@attunecommunications.com


    Source: IDC Manufacturing Insights


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