How has digitization affected the industry?
Digitization has had a significant impact on the industry in many different ways. Here are some examples of how digitization has affected the industry:
- Automation: Digitization has enabled the automation of many processes in the industry, leading to increased efficiency and reduced costs.
- Data-driven decision-making: Companies can now make more informed decisions and optimize their operations by collecting and analyzing data from industrial machines and processes.
- Connectivity: Internet of Things (IoT) and other connectivity technologies enable industrial machines and devices to communicate with each other and the company’s overall system.
- Predictive maintenance: By collecting data from industrial machines and using advanced analytics tools, companies can now anticipate and prevent problems before they occur.
- Flexibility: Digitization enables companies to quickly adapt to changes in demand and manufacture products more flexibly.
- Remote monitoring and remote control: Digitization allows companies to monitor and control industrial machines and processes remotely, leading to more efficient operations and increased safety.
All of these lead to increased competitiveness for companies, increased productivity and reduced costs. However, it may also require investments in new technologies and restructuring of the business to take advantage of all the benefits.
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