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INDUSTRY 4.0/IIOT
Nicole Rennalls, Vice President/General Manager, AspenTech, explains how
enterprises are using industrial data to manage the three cornerstones of their businesses
BENEFITTING PEOPLE, PROCESSES AND TECHNOLOGY
ndustrial organisations not only need to have good people, processes and technology in place to achieve long term success, they need to ensure that these core elements are working together in harmony to support and advance the corporate goals. To overcome this challenge, organisations are looking to leverage industrial data generated from operational activities.
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Today’s industrial businesses have access to more information than ever before -and it has huge potential. According to Fortune Business Insights, the global big data analytics market size is projected to grow from $307.52 billion in 2023 to $745.15 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.5% during the period between 2022 and 2030. This growth reflects the increasing importance of data-driven decision-making in industry. However, many organisations lack a data strategy to unlock value from their data. In fact, recent research by AspenTech and VansonBourne, polling 200 senior IT and Operations respondents across North America (US, Canada) and Europe (UK, France, Germany), found that just 25% of organisations have a formal industrial/operational data strategy that is actively executed. Industrial data and systems have evolved and been maintained in organisational silos, frequently resulting in suboptimal decision-making, inefficiencies in processes, and under-utilised technology. While this focus has created a lot of expertise and value in siloed enterprises, they are ill-equipped for the agile decision making required in an uncertain and volatile environment. To effectively tackle these challenges, organisations require a fresh strategy - and the right data solutions - to centralise, connect, and scale data operations across facilities. They need to seamlessly connect people, machinery, plants, logistics and applications so they can better communicate and collaborate using existing data. Moreover, they must also deliver a flexible approach that provides corporate-wide information flow; securely streams data from manufacturing, process control and IT systems; and contextualises it to transform it. This strategic integration is not just about
facilitating smoother operations; it's about unlocking the full potential of end applications and use cases that drive business value. From predictive maintenance and real-time monitoring to quality control and supply chain optimisation, the goal is to leverage integrated data to enhance decision-making, improve operational efficiency, and innovate product development. Organisations can then ensure that their infrastructure investments directly contribute to tangible outcomes, such as reduced downtime, improved product quality, and more agile responses to market demands.
departments within an organisation. IT and OT systems often generate vast amounts of data. Efficient data management involves collecting this data from diverse sources (like sensors, machines, enterprise applications) and consolidating it into a usable format. In terms of data compatibility, data from OT systems, like manufacturing equipment, and IT systems, like ERP software, often exist in different formats and contexts. Integrating these data sets requires standardising and contextualising the data to make it meaningful and actionable across the organisation. The convergence also often requires real-time or near-real-time data processing capabilities to enable immediate decision-making and control, especially in operational settings.
The convergence of IT and OT A pivotal aspect of leveraging industrial data to enhance the three cornerstones - people, processes, and technology - is the convergence of Information Technology (IT) and Operational Technology (OT). IT serves as the critical infrastructure for an organisation's operations. IT plays a vital role in overseeing, administering, and safeguarding essential areas like email, financial systems, human resources (HR), and various applications, whether they're hosted in-house or in the cloud. In each of these areas, IT has generated significant gains in productivity, growth, and compliance in these functions. Today, the IT world is converging with that of OT, which controls industrial processes in manufacturing, mining, and transportation. This holds a great deal of potential for businesses, as the IT driven innovation that has benefited HR, finance, and R&D organisations, can enhance operations. The convergence of IT and OT heavily relies on effective data management and data integration. This integration is critical because it enables the seamless flow and utilisation of data across different systems and
The ultimate goal of integrating IT and OT data is to derive actionable insights. This requires advanced data analytics tools and techniques to analyse the integrated data and uncover trends, patterns, and opportunities for optimisation. Historically, IT and OT operated independently, with different perspectives and objectives. Now, fostering collaboration between these domains can unlock powerful synergies and drive transformative business outcomes. By sharing insights and data, businesses can innovate more effectively. Transitioning to the practical implications, the convergence of IT and OT also clearly harnesses people, processes and technology and brings them all together for the benefit of the business as a whole. This integration benefits the workforce, enabling better training, safety, and efficiency for people operating in industrial environments. Additionally, the merging of IT and OT leads to more streamlined and efficient processes, reducing errors, increasing productivity and promoting continuous improvement. Finally, it maximises the use of existing technology, ensuring that both IT and OT systems are fully utilised and integrated for optimal performance.
AspenTech
www.aspentech.com
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