ARC Advisory Group reported that the global process industry loses $20 billion annually from unplanned downtime. While companies have spent millions trying to address the
unplanned downtime issue, until now, they have only been able to address wear- and age-based failures because they lacked insight into the process-induced failures that cause some 80% of unplanned downtime.
https://www.smartindustry.com/blog/smart-industry-connect/moving-from-reactive-to-proactive-operations/
We know that not just factories, but all types of industrial operations of the future need operational intelligence to compete. And specifically “data-driven” operational intelligence.
And what do I mean by data-driven operational intelligence? I mean that, in today’s world, where machines are constantly communicating with one-another, and the data volumes are so significant, that it’s impossible to expect a data analyst or engineer using Microsoft Excel to comb through all that digital exhaust to discover issues.
What we need to do is not replace those engineers and analysts, but make them more productive. Allow software to automatically find interesting anomalies or correlations across multiple data sources that are difficult for humans to detect. Humans are still in the loop and the software gives them a thousand additional eyes always looking out for issues.
Question: There are three bubbles that highlight Splunk’s capabilities. First is around real-time monitoring of industrial assets and troubleshooting issues by bringing together disparate data sources. The second is around predictive analytics including predictive maintenance and forecasting yields or production rates, for example. And the third is around identifying and alleviating security issues in the OT network.
By show of hands,
1) How many people are primarily interested in the real-time monitoring and troubleshooting of equipment issues?
2) How many are primarily looking for predictive analytics and machine learning?
3) How many are focused on securing their industrial operation?
4) How many are interested in all of the above?