There’s one thing that’s at the heart of digital transformation for all manufacturers – data!

Phil Black - PII Editor 09/03/2022

117 1 minute read

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For today’s factories, digital transformation is a necessity. It’s safe to say that you simply can’t stay competitive in today’s market without going digital. What does that mean from a practical standpoint? It entails implementing digital systems and technology into conventional processes. As such, the decision to start your digital transformation journey is essentially a business initiative, not a technological one.

Introducing new tech solutions such as machine learning, AI, advanced sensors and analytics, digital twins, robotics and autonomous systems, all the way to augmented and virtual reality, can be the driver of major benefits for both your productivity and your bottom line. The simple roadmap of the whole process is to use data to gather as much insight and operational visibility as possible through software and other tools, and use it to guide better decision making and focused action to drive improved results.

And when it comes to data, the digital transformation survey infographic below highlights some of the biggest digital transformation challenges and opportunities for manufacturers. L2L, a smart manufacturing platform, conducted a survey on the current state and trends in digital transformation during January of 2022. They surveyed 125 mid to C-level manufacturing leaders, and identified the most prominent trends and beliefs. In short, 53% of the respondents expect positive ROI from digital transformation, while 49% expect reduced labor costs.

What doesn’t make sense in light of everything above is the fact that 42% of the respondents haven’t even begun their digital transformation. At the same time, 51% of them believe that their competitors are investing in digital transformation, while 75% believe that their competition is ahead of them. Find out more about the current trends in digital transformation in manufacturing industry in the infographic below, provided by L2L!