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Big Data Analytics Set to Change Maintenance Services Models

August 27, 2015

The amount of data that will be generated when everything gets connected is going to be massive. The Internet of Things (IoT) or the Internet of Everything (IoE) looks to have tens of billions of devices interconnected with the goal of introducing new levels of efficiency in every industry around the world. One of the biggest challenges is making sense of all the information, and that is where big data comes in.

New analysis from Frost & Sullivan, “Services 2.0: The New Business Frontier for Profitability,” looks at the role big data will play in manufacturing and maintenance.

According to the report, industries in manufacturing will be changing their service strategy from corrective to preventative and predictive maintenance over the next five years. This will require using predictive analytics more effectively to optimize costs and eradicate, or dramatically lower unplanned downtimes.

As any manufacturer will tell you, downtime, no matter how short has a snowballing effect that continues all the way down the supply chain, with negative consequences along the way. Although time-based contracts have leeway that take into consideration unforeseen circumstances, eliminating these stoppages allows manufacturers to deliver on their contracts with more reliability.

The IoT is bringing a lot of technologies together, and the manufacturing services sector will be able to benefit by aggregating the data from all the interconnected devices. Manufacturing service providers will be able to address security and operational improvements along with maintenance and support with real actionable insights that deliver tangible results.

The report indicates, the change big data analytics provides the maintenance services models in the manufacturing sector will be responsible for a compound annual growth rate of 9.1 percent from 2014 to 2021.

“In line with the emerging trend of IoIT, manufacturing services are also evolving into a connected ecosystem supported by a single control centre,” said Frost & Sullivan Industrial Automation and Process Control Senior Research Analyst Srikanth Shivaswamy. “The demand for interoperability and maximum transparency across multiple products and processes is lending credence to the concept of connected operations.”

The challenge for service providers is to provide solutions with affordable CapEx and OpEx so small and medium scale manufacturers can start integrating Internet of Industrial Things (IoIT)-based systems so they can migrate from legacy managed services.

Shivaswamy went on to say, “Overall, solution providers will be rated on one of two factors. Customization of service models to match the needs of end users or the capability to migrate to a different service model in alignment with a new end-user process, product or solution,” 

Edited by Stefania Viscusi

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