However, many manufacturers find themselves grappling with a significant barrier: the perception that their machine data is either inaccessible or not their rightful property. This misunderstanding prevents them from harnessing valuable insights that could drive efficiency and growth.
Manufacturers often face two primary challenges regarding machine data:
Many lack the specialized skills required to access and interpret machine data effectively. The complexity of modern manufacturing systems, coupled with the need for specialized data analytics expertise, can leave valuable information untapped.
Some manufacturers are misled to believe that they do not own the data generated by their machinery. This misconception can stem from ambiguous contractual terms with equipment suppliers or a lack of awareness about their rights.
These challenges result in significant "money left on the table" – potential savings and efficiency improvements that remain unrealized.
A recent study revealed that manufacturers leveraging data-driven insights can achieve up to a 20% increase in operational efficiency (source: McKinsey & Company). This statistic underscores the immense value locked within machine data. However, without the means to access and utilize this data, many manufacturers miss out on these potential gains.
The introduction of the EU Data Act marks a pivotal moment for manufacturers in Europe. This legislation explicitly states that machine data belongs to the end user, not the equipment manufacturer. By clarifying data ownership, the EU Data Act empowers manufacturers to reclaim control over their data, paving the way for enhanced data-driven decision-making and operational improvements.
At FORTIQ, we specialize in transforming inaccessible machine data into actionable insights through our unique 7 Eyes process. Here’s how two key components of our process can help manufacturers overcome these challenges:
We help manufacturers build robust data repositories that centralize and organize machine data. This foundation is crucial for efficient data management and accessibility.
Our advanced analytics techniques dive deep into the data, uncovering patterns and insights that drive informed decision-making. By leveraging machine learning and AI, we enable manufacturers to unlock the full potential of their data.
Unlocking machine data is no longer an insurmountable challenge. With the backing of the EU Data Act and the expertise of FORTIQ, manufacturers can reclaim ownership of their data and harness it to drive substantial operational improvements. By addressing technical barriers and misconceptions about data ownership, FORTIQ empowers manufacturers to realize the full value of their machine data.
