NEW REPORT: Creating Actionable Decisions in the Era of Digital Data

Data is crucial for the success of any business. In order to utilize the data for actionable decision making, data analysis must deliver information that is timely, accurate and trusted. Many manual processes lead to inconsistent data and errors, causing cost overruns and imperiling regulatory compliance. To save time and aid in efficiency, industries are leaning on digital transformation technologies as companies make the move to real-time data collection.

However, industrial manufacturing companies are still slow to adopt advanced technologies like AI and IoT. While companies have adopted these technologies for some departments, most have not implemented them across the enterprise, leaving gaps of productivity, efficiency and cost control.

Our new report, The Challenge of Turning Data into Action, found that nearly half (48%) of manufacturing companies use spreadsheets or other manual data entry documents. As a result, only 12% are able to take action on their data insights automatically.

The IIOT

A big player in the digital transformation of industrial manufacturing is Industrial IoT (IIoT), accounting for more than $178 billion in 2016 alone and proving critical to providing companies with a competitive edge, according to Forbes.

We found that 44% of manufacturing professionals stated that less than half of their company’s manufacturing process is outfitted with industrial IoT technology. But, IoT can be a game changer for many businesses.

What’s At Stake?

Despite the importance of this data, older processes like spreadsheets or standalone solutions remain in many manufacturing organizations. Data collection for manufacturers focuses on quality assurance (67%), operational efficiency (64%), labor time (63%) and cost of materials (63%) — all vital aspects of maintaining efficiency in the manufacturing industry. But for more than one-third of these manufacturing companies, they can’t make informed decisions on such matters due to a lack of trust in the data.

Turning Data into Action

Over three quarters (76%) of respondents said in order to take immediate action based on collected data, they need software solutions that analyze data in real-time. Manufacturers crave simple, reliable solutions to keep data timely and accurate. They noted that such a system could offer more efficient ways to communicate updates to people on the line as well as put all data into a single platform so information can be viewed quickly and accurately.

PlutoShift offers an asset performance management platform for a variety of process industries, including food, beverage, water and chemicals. We bring together data on one easy-to-use platform, contextualizing the information and measuring the bottom-line financial impact.

Download the full report here to read more about the challenges facing the manufacturing industry and how PlutoShift services can streamline data collection.

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Plutoshift APM Brings Direct Financial Impact To The Process Industry Using AI

Companies in the process industry today are expected to generate more revenue using fewer resources and without buying new assets. There’s greater pressure than ever to be efficient and nimble, worsened by the potential of a global trade war. Manufacturers have questioned if artificial intelligence (AI) could be cost-effectively harnessed to transform the industry like it promises for so many others.

AI is only as good as the outcomes it supports, so our team’s biggest priority is to make it as easy as possible for our customers to leverage AI to generate the ROI that matters most to them.

Today we announced our cloud-based, AI-driven asset performance management (APM) platform designed specifically for the process industry. Using AI, Plutoshift automatically and continuously connects asset data with financial metrics, letting you easily measure performance, achieve your business outcomes, and increase profit margins.

We worked closely with our Fortune 500 customers in verticals that would push the limits, including food, beverage and chemical, to solve their critical pain points. The vast amount of industrial sensor and IIoT data manufacturers rely on to overcome challenges is often trapped in legacy systems. These aging, on-premise systems can’t correlate the impact of asset performance over future revenue metrics. Plus, these tools have not kept pace with the mobility and ease-of-use demands that today’s savvy end users expect.

That was just the beginning.

We created a platform that lets plant managers discover process inefficiencies and new opportunities to increase throughput, speed up ticket resolution, reduce resource consumption, and eliminate waste. Plutoshift’s proprietary algorithms leverage both existing historical and real-time data, extracting actionable insights between asset behavior and revenue. We work with all of your existing data systems seamlessly, providing you with immediate ROI.

Plutoshift can be accessed safely from anywhere, empowering those front-line end-users who expect an on-demand experience. While new, it’s proven – the only solution vetted by global forums of leading industrial technology evaluation committees – and is accompanied by mature features, including:

  • Deep analysis and intelligence: Easily connects to data streams including SCADA, ERP and CMMS to produce actionable insights on the costs, risks and efficiencies of plant operations.
  • Agile integration: Integrates with every process historian on the market today.
  • On-demand insights: Interactive, easy-to-use dashboards and alerts enables operators to work effectively from anywhere.
  • Pre-built asset templates: A growing library includes membranes, cooling towers, CIP systems, clarifiers, dryers, and more.

We built Plutoshift APM to help companies bridge the relationship between the data and financial performance of their assets. Contact us today for a free demo.