Industrial companies are about to go through a major change to become ‘Digital Industrials’.
Successful companies that make this transformation will become best in class. A ‘Digital Industrial’ understands how to use analytics and software to get more out of the assets that they already own. To be a top Digital Industrial, there can be no disconnect between asset and data.
Gartner reports that the move to becoming a Digital Industrial is not about digitization… that’s about ones and zeros. Making the move to becoming a Digital Industrial is fundamentally about transforming an operation by integrating assets and supporting content to generate new revenue and value. It is the pure expression and integration of assets and knowledge.
A Digital Industrial follows a ‘mobile first’ asset/enterprise content strategy where business is conducted through digital channels from the front office to the point of service delivery. It means digital service delivery, more transparency and higher operational effectiveness.
Digitization exposes every part of an enterprise to the Nexus of Forces (where cloud, mobile, information and assets meet) and the Internet of Everything. It is how you reach all stakeholders, how you run your physical plant, and how you operationally generate revenues or deliver services.
Consider an Engineer or technician doing work at a gas station. Before starting work, a person needs information on that asset, like a drawing. If the technician needs to go wherever to find that drawing and bring it back before work can begin, there is a disconnect between the asset and the data. And that’s when bad things can happen.
Information and assets are connected and need to work as one.
GE Reports Canada describes that we usually think about the internet in terms of consumer applications or data and information used by people. However, we rarely think about the internet as being an Industrial Internet. Economist Marco Annunziata says the industrial internet will:
- Add $15 trillion to the global economy in 20 years (about the size of the American economy)
- Deliver $8.6 trillion in efficiency gains and increase productivity by 20%
- Be double the value of the ‘consumer internet’ by 2020
- Create $43 trillion in value in sectors such as manufacturing, energy, transportation, and healthcare
Today, the sprawl of data and content is immense. How well companies integrate enterprise content and assets will determine the Digital Industrial survivors of tomorrow.
We are in the midst of a digital revolution, and there isn’t a company anywhere that isn’t trying to figure this out.