Companies are overlooking quick wins that are comparatively easy to implement, such as cloud services, while others struggle to achieve the integration needed to realize the full potential of data, says KPMG. As well, many seem to have dismissed the opportunities and insights that big data can offer. The survey findings revealed that only one in five (21 per cent) are actively leveraging data analytics.
Robotics and M2M capabilities can speed up production, while IoT facilitates predictive maintenance, reduced downtime and costs and it provided greater visibility into production and delivery, says the report.
“Companies should already be investing in IoT-compliant technology, especially to connect their legacy equipment,” says KPMG’s Yvon Audette, COO, management consulting services. “It’s fast becoming a baseline requirement for companies in these capital asset-intensive sectors; those that fail to invest in IoT will quickly fall behind.”
Although slow in the past to invest in digital technologies, close to half of the industrial companies surveyed by KPMG planned to implement intelligent automation and IoT technologies within the next three years.
