When digitalisation becomes one of the top priorities for a company, it will most probably also become one of the biggest challenges due to lack of a comprehensive strategy.
Top challenges for companies when transforming their business are:
Adaptation to the Market change
When growing number of products are expected to be sold as ”product as a service”, traditional sales margin of the product will no longer exist. In order to grow the business and improve the business performance, companies need to invent new business models and value streams such as digital services and commercialise product InUse knowledge.
Sales of tomorrow are about to understand and to improve how your customer uses what they have bought from you. What you sell is to become the physical link between your customer and you.
Symetri has been helping companies through all previous industry and technology changes for more than 20 years, so our expertise is available for our customers.
Managing Big Data successfully
Collected data itself has no value. Only the interpretation of useful data is providing value. Companies must be able to gain an understanding of the available data with help of data science and machine learning. Combination of proper data analytics, information that cannot be seen is observed and machines can become more capable. Ultimately they can benefit from AI (Artificial Intelligence) in the desired manner. Real-time analysis, combined with leading indicators and KPIs, you form a better understanding of data in real time and be able to detect and prevent something that has not happened.
Symetri’s InUse IoT Solution enables the possibility for real-time data simplification and abstraction using particular algorithms and AI.
Maintaining sustainable production and improving the traceability
Instead of mass-produced goods, products are more versatile and unique. Amount of collected data and data traceability becomes a challenge. Product development and production would have to meet the requirements of being eco-friendly and all waste to be minimised. New production technologies like 3D printing become reality and will add requirement to have even more reliable data sources available. As an example, component (like spare part) cannot be made without its accurate 3D data.
With a wide range of design automation, visualisation, data management and InUse IoT solution, companies can benefit from all smart manufacturing values and gain full traceability of any product information through its entire product lifecycle.
Dealing with human and social impact
When digitalisation becomes part of industry daily life, the value chain would have to be optimised. Globalisation has already taken place and sharing knowledge and experience will add value to all parties. Value chain and sharing community will consist of both humans and machines. When more people are interacting with a social media and community platforms, companies have better possibilities to offer right services to the right community at the right time.
With Symetri’s InUse IoT Solution companies can build their own catalogue of digital services, share and trade the InUse knowledge within their value chain and their product community.
Prepare for Cyber Security
When basically every machine, vehicle, device, house appliance in the future is eventually connected, the protection of the access to data in the cloud or in the product becomes highly important. To secure connected product, it is important to understand the attacks and threats that can be made against it. Digitalisation creates opportunities for more direct integration of the physical world into computer-based systems, it also provides opportunities for misuse. This would mean that cyber attacks are likely to become an increasingly physical (rather than simply virtual) threat.
Symetri is taking seriously of cybersecurity threats and any external integration and using cloud technology is using https protocol and latest security updates. However companies should not to be scared off by hacker horror stories and not to let legitimate concerns turn into paranoia.