Internet of Things and Industry 4.0 are common topics. Big data is another closely related one. The questions we need to ask in this connection are similar: Overestimated? Underestimated? How will big data change the process industry? Let’s start at the beginning.
What does the term “big data” actually refer to? First off, it’s a completely neutral term that could be defined as follows:
Big data is high-volume, high-velocity and / or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making, and process automation
(source: Gartner, What is Big Data?).
In other words, we’re talking about huge quantities of digital data that originates in all sectors of society and the economy and is very difficult to collect or analyze using traditional data processing methods. This data exists as unstructured information of multiple types and with multiple sources, so that the correlations are not instantly obvious. Solutions precisely tailored to the task at hand are called for, to enable the data to be properly structured and work out how it all fits together. In order to derive added value from these analyses, we need algorithms that are capable of processing the data as fast as it is generated – that is, in real time, often within a fraction of a second.
Big data: we’re all familiar with it!
So what is all this data good for? Are you aware that, in fact, you’re already surrounded by big data in your everyday life? Oh, of course – I did some online shopping yesterday and ended up buying something that wasn’t on my list because the online store made such great recommendations. You can learn more about that and other aspects by watching this little video tutorial:
Potential for more
Big data presents opportunities and risks which the process industry, too, cannot afford to ignore. After all, we’re very much lagging behind in this respect.
According to the IMS World Digital Competitiveness Ranking 2017, German companies lack agility, especially in the opportunities and risks categories as well as specifically in the use of big data and analytics, where Germany ranks 39th out of the total 63 countries surveyed. The study nevertheless confirms the existence of many innovative firms (rank 7).
The Global Information Technology Report 2016 likewise does not see Germany as leading the digital transformation, although German companies are explicitly mentioned as avid users of digital technologies (rank 6). Definitely, the potential is there. It’s up to you to use it! That applies even more so now that the hype cycle surrounding big data, Internet 4.0 and the IoT is gradually ebbing again after reaching its peak. We all need to keep our cool and get to grips with the challenges.
“Industry 4.0 and the Internet of Things are topics that have increasingly been addressed in conversations with our customers over the last few months. To be honest, though, they’re topics that were on the agenda for a long time before anyone found a name for them. As I see it, this isn’t really a revolution but more an evolutionary process. Particularly in the packaging industry, maximum flexibility of machinery and equipment has always been a major goal that automation specialists have been working towards. By being open to the possibilities that IT provides, we’ll be fit for any Industry 4.0 scenario,” says Dr. Bernhardt Grimm, Head of Industry Marketing at Turck
(source in German: industr.com, “Daten sind das Lebenselixier für Industrie 4.0”).
Let’s get searching
Yokogawa already has more than a century of experience as a specialist for process automation and is thus optimally equipped to launch into a new era. Feel free to ask us for advice – on collecting, structuring or analyzing your data, and of course on keeping it secure. We’ll develop ideas and solutions hand in hand with you – and maybe your big data will turn out to be a real treasure trove! Whatever happens, both we and you will learn how to get the best out of your information.
