Industry 4.0 Trends and Data That Actually Matters with Jeff Winter
Jeff Winter is an Industry Executive for Manufacturing at Microsoft who helps manufacturers across the US digitally transform at scale. Plus, he’s seen a few things over the past 15 years through his involvement in the Industry 4.0 community and Smart Manufacturing-centric leadership within organizations like ISA (International Society of Automation).
In this episode, Jeff shares some fascinating statistics and trends in data management and digital transformation. He explores how the present data generation and storage habits call for more defined data strategies going forward. We hear some IoT trends and common barriers to a successful digital transformation initiative.
3 Quick Things from this Episode
Companies are generating more data, but most are not taking advantage of that data, let alone knowing what data aligns with their objectives
Quality is the number one reason companies adopt IoT, while security is a measure of success
Most digital transformation initiatives don’t actually drive transformation
Tweetable Quotes
“Digital transformation drastically changes the way companies operate, which is both scary and difficult.”
“Spend as much time investing in the right company culture as you do in the right technology.”
“Part of your company’s overall data strategy works its way backward into the data roles needed within the organization.”
Questions Jeff answers in this episode:
What statistic and trend do you find to be most fascinating right now?
What are the different types of data generated and used?
Why isn’t all the data being generated utilized?
What are the limitations of data collection?
Why do companies need data analysts?
What is your perception on companies’ use of data analysts?
What trends and statistics do you find interesting related to IoT?
Do the top IoT use cases surprise you?
Why are digital transformation failure rates so high?
Because companies are self-identifying as failing, are we being too harsh on ourselves?
Sources Referenced
Statista - Amount of data created, consumed, and stored 2010-2020, with forecasts to 2025: https://www.statista.com/statistics/871513/worldwide-data-created/
Boston Consulting Group & World Economic Forum Project - Unlocking Value in Manufacturing Through Data: BCG-WEF Project: Unlocking Value in Manufacturing Through Data | BCG
IoT Analytics - 2021 Top 10 IoT Use Cases: The top 10 IoT Use Cases (iot-analytics.com)
Analytics Insight - The Future of Data Revolution will be Unstructured Data: The Future of Data Revolution will be Unstructured Data (analyticsinsight.net)
Microsoft - IoT Signals Report 2021: 5 trends transforming business—2021 IoT Signals report | Microsoft Azure Blog
Sky Engine AI - What is Synthetic Data (Gartner Data reference 2021): What is Synthetic Data? - SKY ENGINE AI Developers Blog
World Economic Forum - The Future of Jobs Report 2020: WEF_Future_of_Jobs_2020.pdf (weforum.org)
Engineering.com - PTC’s 2021 State of Industrial Digital Transformation Survey Results: Survey Results: The State of Digital Transformation - Engineering.com