Real time data is the key to driving innovation
Summary
Analog Devices has announced a newly commissioned study conducted by Forrester Consulting on behalf of Analog Devices, that shows that industrial manufacturers who have made investments in connectivity technologies (high maturity) are better positioned to drive innovation and gain a competitive advantage compared to firms that have been slower to implement connectivity (low maturity) across the factory floor. “This past year was a true catalyst for digital transformation and many businesses needed to navigate and adopt connectivity strategies that helped them to become more agile and lay the groundwork for future innovation,” said Martin Cotter, SVP Industrial, Consumer & Multi-Markets at Analog Devices. “We see significant opportunity in the adoption of connectivity solutions, including 5G, to help organisations get data more quickly, enabling end applications.” • Connected firms believe that improving network reliability (including adding 5G networks) will create significant opportunity: 68% of high maturity firms say this will enable them to make better use of existing cloud infrastructure and 66% believe their industrial data and IP will be more secure. • The human element continues to pose challenges: Almost half (47%) of low maturity firms say they lack the expertise to understand which connectivity technologies to invest in, indicating a skills gap. These interruptions lead to higher cost of holding inventory and labour per unit, loss of production and customer confidence and decreased work capacity.