Cutting-edge tech in itself won’t cut the mustard for companies eager to benefit from innovations related to the Internet of Things (IoT) and big data analytics – “the digital twins of innovation” as Kieran Frost of the Industrial Development Corporation calls it. Frost said the manufacturing winners of the future would not necessarily be the guys who could produce at a massive scale. “They are going to be the guys who can change according to client requirements very quickly.” He said that having the necessary tech was not good enough. “What we’re seeing at the moment is growing interest in instrumentation and it’s one of the reasons why IoT is such a hot topic. But IoT sensors just generate data and data is useless unless you can generate insights from it.” Frost stressed that with all the talk around tech it was important to keep in mind that information garnered through technological means was most useful when speedily processed, analysed and applied in insightful ways to respond to circumstances as they unfolded. “That’s when IoT and big data analytics can unlock real value for manufacturers.” Add mathematical accuracy into the equation and it can give companies a real edge in the market. “You need to be able to measure every part of your plant. Once you’re able to generate data at every single step in your process companies should be able to manage efficiencies as they proceed.” From a local point of view, he added that the loss of competitiveness and the shrinking contribution of manufacturing to GDP we were seeing in South Africa was almost a direct result of increased automation in the Asian market. We’re even seeing some re-shoring of manufacturing operations into primary markets like America.”
Data is useless unless you can generate insights from it. – Kieran Frost
