{"id":6935,"date":"2017-01-09T07:00:44","date_gmt":"2017-01-09T15:00:44","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=6935"},"modified":"2016-12-04T18:20:50","modified_gmt":"2016-12-05T02:20:50","slug":"industrial-analytics-applying-real-time-data-analytics-to-revolutionize-industrial-processes","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/industrial-analytics-applying-real-time-data-analytics-to-revolutionize-industrial-processes\/","title":{"rendered":"Industrial Analytics: Applying Real-Time Data Analytics to Revolutionize Industrial Processes"},"content":{"rendered":"

Industry has discovered data. \u00a0Applying data to industrial business processes\u00a0is supercharging industrial production and product management. This is industrial analytics. Real-time data analytics of machine, product and process data can reduce unscheduled downtimes, eliminate scrap by-products, improve production, and enable business profitability.<\/p>\n

GE has been a pioneer in using Industrial Analytics. \u00a0\u00a0Sanjeev Addala<\/a>, chief digital officer at GE, said that<\/a> “we\u2019re able to reduce maintenance costs up to 10 percent and reduce more than 20 percent of unplanned maintenance… We give customers all that actionable intelligence so they can plan the right strategy, thus increasing their revenues by two to three percent. This is game-changing, how software analytics can optimize both operations and business outcomes.”<\/p>\n

A recent study by\u00a0IOT Analytics<\/a> found the following:<\/p>\n