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6 Use Cases of Big Data in Manufacturing Industry
Technological advancement has helped transform the manufacturing industry tremendously, and the application of big data has enabled enterprises to make informed strategies to create a plan of action for the future. Apart from automating the processes involved in the manufacturing sector, it can also make use of the technology for other purposes as well.
In the past, forecasts in manufacturing companies depended on estimates, which often led to errors and losses, leading the companies to produce units in quantities more or lesser than required. The implementation of big data has enabled companies to tackle these issues and produce products according to market needs. Big data analysis allows organizations to determine the demand for specific products by gathering customer feedback and assess it to determine which product is in higher demand.
Here are six use cases of big data in the manufacturing industry
Better Customer Service
Big data analysis can be used to increase customer loyalty in marketing. Data from social media, customer care sales, and marketing are compared to examine customer sentiment towards the company and to react in real-time. With this information in hand, a manufacturer can move from mass production to mass adapted production, increasingly tailoring the products to the individual customer or the market segment.
Big Data Ensures Traceability
Supply chain management plays a big part in manufacturing, and big data allows for traceability that helps track products shipped from factories. This is necessary to search and monitor the progress of the supply of products and maintain efficient relationships with customers. When monitoring is unavailable, the products will be impossible to track if they are lost. Big data helps with these issues with the use of sensors that can transmit the coordinates of the packages and assist an organization to track a shipment.
Companies can optimize their way of working and engage more closely and consistently with customers and suppliers with the help of big data analytics software. It provides opportunities to identify new ways of increasing sales or discover their potentials before investing.
Enhanced Product Development
Big data analysis can be used for improvement of product development by continually evaluating customer opinions, new trends in the product market, understanding the potential changes to the range and characteristics, and implementing the changes effectively in areas that have high chances of success.
Big data facilitates the way production processes are carried out. Information produced by the data can help in reducing the cost of production and packaging. Implementing data analysis in companies can also reduce the cost of transportation, packaging, and even warehouse, helping cut down inventory costs and contribute to huge savings.
Predictive and Preventive Maintenance
Operational data can be collected and virtually analyzed in real-time from any machinery or consumer product with the help of sensor technology, which is readily available today.
Operating data is examined using the pattern recognition method, which can help predict future failures and the need for maintenance in advance, which helps avoid downtime and maintenance-related costs. Additionally, this will drastically extend the life of the machines, avoiding irreversible failures.
When it comes to consumer electronics, producers track consumer activity on the device and notify them in advance for the ideal maintenance time, creating a great user experience and simultaneously reduce maintenance and warranty costs for the manufacturer.
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