Integration of technology in different industries and business sectors has been obvious. The digital transformation streamlines various processes effortlessly. Although the manufacturing industry has been slow to embrace technology. But the right time is here for the production sector to improve decision making and performance from data analytics.
Industry 4.0 when combined with the power of the latest technological development of AI, advanced visualization and analytics, robotics and IoT powered devices can provide manufacturers with the potential to collect, store, visualize and utilize data in daily factory operations.
Through advanced business intelligence and analytics, plant managers can get recommendations about possible improvements.
The manufacturing industry is constantly looking for improved solutions to speed up production and automate large scale industrial processes. In this post, we wish to throw some light on power bi data analytics implementations and how they can bring a transformation for the manufacturing industry.
Why should everyone in manufacturing utilize the industry 4.0 revolution with Power BI?
Industry 4.0 involves a set of technologies for several processes. Even though the concept of industry 4.0 is a little hard, the manufacturing plants which use this solution have much faster production than companies still relying on conventional methods. Advanced data analytics and processes automation combined with connectivity can enhance production efficiency exponentially. Data analytics through power bi have helped plant managers to customize products, decrease time to time, increase efficiency and create a more sustainable and profitable business model optimized for service productivity.
For companies committed to streamline their supply chain, align operations, and crush production challenges, data analytics with power bi can help you achieve it all.
Before moving on to the benefits of power bi and analytics, let’s see some major data challenges of the manufacturing industry.
- In manufacturing, there are so many processes and while the data is collected from several sources, it is presented inconsistently, making it difficult to read and draw insightful conclusions. Some companies gather data successfully but fail to comprehend and further utilize it.
- Another challenge is the integration of data analytics with traditional manufacturing systems such as ERPs, production planning systems and others.
- Even when the manufacturing department generates huge data, it fails to manage and coordinate the pace of storage management systems.
- As the number of processes increases and the production grows, the complexity of data sore high which then need better visualization and analytics tools. Although it’s not the responsibility of the manufacturer to solve this issue, they must be aware of what a data analytics tool like power bi can do for complex data analysis.
- An industrial data collection system with limited computing power might put the entire company at risk as there are underlying threats of cyber attacks, online leaks, unauthorised access, and other security issues.
We have discussed some of the primary data challenges, now let’s see how power bi can help mitigate these threats.
How data analytics solutions of Power BI can transform the manufacturing industry?
Detailed reports, graphs and charts in power bi can be explicitly used by companies to draw actionable insights for core manufacturing issues such as:
- Which products bring the most customers and which yields lower profitability?
- What are the weak links in the manufacturing process? For instance which raw material vendor can halt manufacturing the most?
- How to perform shipment performance, transportation cost, and several other KPIs of the business?
The applications of power bi data analytics reports are many in the manufacturing industry. The primary aim for most managers is to improve productivity growth. Other important areas of inefficiency are supply chain management, prediction of sales and marketing expenses, calculation of equipment performance, and more.
Advanced data analytics can provide a high ROI with intuitive insights in these particular areas of a manufacturing plant. Also, the use of data analytics and visualization will help to create better revenue streams built around the product quality of a manufacturing company.
Benefits of power bi data analytics features:
Imagine if employees had access to a custom dashboard to process an instant supply chain analysis or an enterprise-level custom dashboard of sales to monitor all the revenue sources on one screen. This is simply possible through power bi dashboard visualization features in seconds. Manufacturing managers and employees can read complex data in easy to read graphical formats. They access the ability to handle ad hoc queries and share insights about workflows too.
Such insightful analysis can reduce raw material waste, speed up funding for the most in-demand products, and improve the potential of a manufacturing unit.
- Maintaining human resource and automation
For various manufactures, it is not simple to handle automated processes and warehouses as they have to decide about where to keep human labor for certain roles. Sometimes human supervision is necessary to maintain the quality of the product and its seamless production. Workforce analytics solutions in power bi can help manufactures evaluate ROI and employ staff along with automation where required.
- Incredible management of supply chain
With the assistance of power bi, manufacturers can analyze supply chain logistics data regularly for timely product deliveries and ultimate services. Such detailed analysis of each batch shipment allows managers to monitor consignment costs, performances and settle contracts.
A supply chain management dashboard in power bi can help one measure repair costs, transportation expenses, equipment issues, and other KPIs efficiently. The data is presented in visually attractive formats to gain insights based on previous and real-time data to make informed business decisions.
- Enhanced decision making
Data analytics and power bi make decision making very intuitive for managers and come up with unique solutions to rectify operational issues. Power bi processes millions of rows of data instantly and present in a visual format to help decision-makers catch inefficiencies and make efficient decisions for better organizational performance.
Data is the future
The organizations adopting data-driven manufacturing are actively dispersing both external and internal problems. Power bi data analytics is a strategic move to get speedy results and performance for your production business as well.
If you are ready to take a step towards a better future and create a lasting impact through data, talk to our power bi development company and start your data analytics voyage.