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LNS Research – Manufacturing Analytics Report – Epicor ERP

Artificial Intelligence/Machine Learning and Big Data are recognized as the #1 and #2 most hyped technologies in the

Artificial Intelligence/Machine Learning and Big Data are recognized as the #1 and #2 most hyped technologies in the industrial technology landscape today. At the same time, the hype is not void of momentum, compared to the 2018 Analytics That Matter (ATM) study; there has been a dramatic increase in analytics capabilities over the past two years. LNS survey data shows that there has been a 52% increase in the share of industrial companies with a formal analytics program. There also has been a 102% increase in diagnostic capabilities and a 66% increase in predictive capabilities. That is the good news.

Unfortunately, the industry also still has significant challenges. We have only seen a 39% increase in prescriptive capabilities – well behind the increases in diagnostic and predictive. Furthermore, all of these increases in analytics capabilities have had limited impact on ultimate operational and business performance. Average Overall Equipment Effectiveness (OEE) and average On-Time Delivery show no appreciable improvement over this same two-year time period.

In this new study, LNS Research will show how analytics is a critical component of Industrial Transformation (IX) and how the enhanced decision making capabilities provided by analytics can help drive success in transformation and improve business results.

 

LNS-MFG-Analytics-Matter-Report-ENS

About Encompass Solutions

Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.

Sean Balogh

About Sean Balogh

A marketing professional working hard to deliver relevant and engaging content to audiences in education, technology, and manufacturing.