In today’s hyper-competitive market, manufacturers need to quickly uncover actionable insights from their data. Minutes of downtime can equal millions of dollars, and a miscalculation in production can lead to lost market dominance, raising the stakes even higher.
Manufacturers need a way to communicate data-based insights directly to the people that can take action quickly, like the production-line manager or floor supervisor. With the sheer scale of data and the speed of analysis required, those individuals are not equipped to execute on deriving insights nor should they have to be.
Computers are actually better suited than people to analyze large amounts of Internet of Things (IoT) data, glean the most important information from that data and communicate it in a form that people can then understand.
1) Predictive maintenance with guidelines for fixing the issue
For many manufacturers, margins are so slim that any unexpected downtime can lead to an unprofitable month or even quarter. One of the greatest benefits of smart machinery equipped with hundreds of sensors is the ability to identify anomalies and fix them before the machine fails.
With Advanced NLG, the time from anomaly detection to fix can be greatly reduced because the software can automatically communicate the exact issue to the plant maintenance team, and even include instructions and best practices for fixing that specific problem on that specific machine.
2) Identify product defects and address them faster to avoid large recalls
Recalls can cost manufacturers up to $20 billion. By the time that teams aggregate, analyze, and report on machinery repair and replacement data, thousands of defective products may be rolling off the production line and into the hands of customers.
With Advanced NLG, manufacturers can digest repair and replacement trends much faster. With alerts being sent directly to the production manager in narrative form, potentially harmful activity can be understood much more quickly and stopped so recalls don’t reach such disastrous heights.
3) Analyze production and profitability trends to optimize output
Demand is unpredictable. Manufacturers have gotten much leaner, greatly reducing the time of first input to delivery to the end customer, but planning production in real time requires significant capabilities and investments.
To make the best decisions, demand forecasters and product planners must arm themselves with the insights hidden in the data as fast as possible.
By utilizing Advanced NLG, companies can uncover trends faster, such as which products are selling better in certain markets, how the launch of a competitive product impacts sales, or how a recent hurricane affects demand. This enables manufacturers to see the big picture faster and more clearly, ultimately enabling firms to better meet demand profitably.