Digitalization allows industrial companies to get a highly granular view of their assets which, when viewed in conjunction with data from more traditional business systems, it can generate quicker and better insights to drive competitive advantage. Companies will be poised to take their performance and productivity to the next Level of efficiency, safety and security. Case studies increasingly show that cost-effective digital technology facilitates improved monitoring, more collaborative operations driving greater productivity at reduced costs and risk.
Methods, Procedures, Process: Using Oil Gas and chemicals industry examples, the presentation discuss the vertically integrated data model from edge devices to cloud data repositories and presents how analytics and big data technologies gain insights into production, maintenance efficiency, safe operations and enables efficient business processes.
Novel/Additive Information: Significant competitive advantage will fall to companies who are able to develop an end-to-end digitalized ecosystem which delivers timely, manageable data-driven insights to optimize decision-making. Being able to leverage insights from big data models will help savvy operators steal a march on competitors slower to read the market signals due to an outdated method of forecasting.
Will Leonard, ABB