Synaptic Business Automation enables operational
excellence by connecting all systems in an organization and
integrating business and domain knowledge using digital automation,
finds Frost & Sullivan
SANTA CLARA, Calif.,
May 20, 2019 /CNW/ -- As
process industries across the world become more connected,
networked, and integrated, there has been a consistent surge in the
volume of data generated across the manufacturing value chain. The
high-fidelity data that is generated by sensors and other
wireless devices, however, currently yields inadequate insights
for value creation. This makes a case for digitalizing plant
operations in a way that meticulously leverages the plant's
digitized sensor data.
Frost & Sullivan finds that less than 5% of a
plant's generated data is used. The primary reasons for this
gap are improper data management strategy, limited application
expertise, missing data, and a sheer lack of resource availability.
As customers realize the benefits of co-relating different types of
data using combinational analytics, they can achieve new
outcomes. This will encourage process industries to significantly
increase their digital spending. Already, more than 50%
of customers claim they will invest two times more in analytics
over the next two to three years.
Frost & Sullivan's unique thought leadership paper,
Yokogawa's Synaptic Business AutomationTM
—Converging Intelligent Sensing with Plant AI, will assist
you in unpacking the value levers of digital transformation,
understanding the power of melding sensing with plant artificial
intelligence (AI), and evaluating high-potential application
areas.
To download the complimentary white paper,
please visit: http://frost.ly/3gu
"The blurring of traditional automation boundaries is steering
the development of innovative business models. Edge computing
platforms are resulting in democratization of analytics and
near-real-time interfaces with sensing systems," said Muthuraman
"Ram" Ramasamy, Automation & IIoT Industry Director at
Frost & Sullivan. "The industry understands the imperatives
of digital, but the challenge resides in the 'how' of digital. This
will require customers to partner with accomplished domain experts
who can not only help structure a digital roadmap but also have
strong AI application capabilities over plant data and
comprehensive expertise over a manufacturing value chain."
Yokogawa delivers solutions that support improved productivity
across the plant life cycle, from the management level to the
operations level. Its industrial automation (IA)
business concept, Synaptic Business Automation, leverages
the company's business and domain knowledge to drive sustainable
value creation by blending intelligent sensing and
advanced analytics. The shift from sensing to sensemaking
allows customers to realize a closed loop from data extraction to
value creation, fully utilizing the gathered high-fidelity plant
data. Yokogawa's practical approach of Observe, Orient, Decide and
Act (OODA) improves customers' outcomes from data that is captured
from the plant.
Currently, more than 90% of plant data contains noise, which
obscures patterns that could otherwise be discovered in the raw
data. However, analyzing these large volumes of raw data is not
cost-effective and, alone, does not provide new information. A
clear understanding of the plant can emerge only by focusing on the
most relevant data and understanding plant processes. This can be
achieved by:
- Understanding the principles of physics and the AI
algorithm to interpret the data and reveal the plant's
problems.
- Synaptically synthesizing diverse elements such as
people, systems, data, services and supply chains.
- Nurturing a relationship between OT, IT, business, and
domain knowledge to achieve true digital transformation.
About Yokogawa
Founded in 1915, Yokogawa engages in broad-ranging activities in
the areas of measurement, control, and information. The industrial
automation business provides vital products, services, and
solutions to a diverse range of process industries including oil,
chemicals, natural gas, power, iron and steel, and pulp and paper.
With the life innovation business, the company aims to radically
improve productivity across the pharmaceutical and food industry
value chains. The test & measurement, aviation, and other
businesses continue to provide essential instruments and equipment
with industry-leading precision and reliability. Yokogawa
co-innovates with its customers through a global network of 113
companies spanning 61 countries, generating US$3.6 billion in sales in FY2018. For more
information, please visit www.yokogawa.com.
About Frost & Sullivan
For over five decades, Frost & Sullivan has become
world-renowned for its role in helping investors, corporate leaders
and governments navigate economic changes and identify disruptive
technologies, Mega Trends, new business models and companies to
action, resulting in a continuous flow of growth opportunities to
drive future success. Contact us: Start the discussion
Contact:
Francesca Valente
P: +1 210 348 10 12
E: Francesca.Valente@frost.com
http://ww2.frost.com
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SOURCE Frost & Sullivan