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Report: Data Sharing Is Essential for Excellence in Manufacturing

Tuesday, January 14, 2020
 

Nearly three-quarters of manufacturing managers worldwide consider data sharing to improve their operations. In a recent study, the World Economic Forum, in collaboration with Boston Consulting Group (BCG), examined the opportunities associated with data sharing in manufacturing and the enablers for building successful data-sharing ecosystems. The organizations discuss their findings in the report: Share to Gain: Unlocking Data Value in Manufacturing

To demonstrate the value of data sharing in manufacturing, the study examined five main areas where data sharing can help improve operations. For example, in one application area, manufacturers can improve algorithms to optimize asset performance by combining data from similar production machines. In other areas, manufacturers can apply shared data to track products, trace process conditions, and verify provenance along the value chain, thereby eliminating duplicative processes. 

The authors see the report as a starting point for building a worldwide task force around this topic to help all manufacturers in their journey to manufacturing excellence, making the best use of data and data sharing.

 

Related Enterprise Zones: Management

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