Manufacturing companies are constantly looking for new ways to streamline their operations, increase the productivity and profitability of operations. They now seek to optimize one of their own most valuable assets—data. New data grows exponentially because of the increase in the level of networking and connectivity among people and machines/devices. Businesses also grapple with massive volumes of historical data. Managing the complexity of both historical and new data, making sense of it, and translating it into critical business decisions can be daunting.
Not all companies can analyze and extract insights from data. Powerful and advanced manufacturing analytics can convert data into actionable insights and help manufacturers identify hidden bottlenecks or unprofitable production lines, improve decision making, and drive revenue.
The benefits of leveraging manufacturing analytics are many: higher revenue, lower cost, higher customer satisfaction, increased production yield and throughput, improved product quality, and reduction in unplanned downtime. Predictive maintenance and supply chain optimization are two of the most important applications of manufacturing analytics.
Manufacturing analytics is witnessing steady growth due to the growing focus on Industry 4.0 initiatives and continued recognition of the critical role of analytics. As the manufacturing industry is now focusing on ways to analyze, monitor, predict, contextualize, and visualize processes and asset performance, the number of companies to leverage new technologies and advanced manufacturing analytics solutions has increased.
Frost & Sullivan's research indicates that manufacturing analytics forms the basis for digital transformation initiatives of companies in the manufacturing industry and that current analytics solutions leverage artificial intelligence and machine learning technologies.
The Frost Radar™ reveals the market positioning of companies in an industry by using their growth and innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles of each of the companies in the Frost Radar™, based on their strengths and opportunities, and provides a small discussion on their positioning.
Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™ where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
The companies we have included in this radar are Northwest Analytics, TrendMiner, SightMachine, Seeq, AspenTech, Falkonry, MachineMetrics, Tulip, Dassault Systemes, Element Analytics, and SensrTrx.
Strategic Imperative
Growth Environment
The Frost Radar™: Manufacturing Analytics
Frost Radar™
NORTHWEST ANALYTICS (NWA)
TRENDMINER
SIGHT MACHINE
SEEQ
ASPENTECH
FALKONRY
TULIP
MACHINEMETRICS
ELEMENT ANALYTICS
BIOVIA (Dassault Systèmes)
SENSRTRX
Strategic Insights
SIGNIFICANCE OF BEING ON THE FROST Radar™
FROST Radar™ EMPOWERS THE CEO’S GROWTH TEAM
FROST Radar™ EMPOWERS INVESTORS
FROST Radar™ EMPOWERS CUSTOMERS
FROST Radar™ EMPOWERS THE BOARD OF DIRECTORS
FROST Radar™: BENCHMARKING FUTURE GROWTH POTENTIAL
FROST Radar™: BENCHMARKING FUTURE GROWTH POTENTIAL
FROST Radar™: BENCHMARKING FUTURE GROWTH POTENTIAL
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| New Title | Global Manufacturing Analytics Market - Growth Opportunities, Analysis, Forecast, Global,2020 |
|---|---|
| New Subtitle | Benchmarking Future Growth Potential , Big Data Analytics in Manufacturing Market , Manufacturing Analytics , Global Manufacturing Analytics Market |
| Deliverable Type | Frost Radar |
| No Index | No |
| Podcast | No |
| Author | Sankara Narayanan Venkataramani |
| Industries | Industrial Automation |
| WIP Number | K427-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9593,9420 |
FROST RADAR™: Manufacturing Analytics, 2020
Benchmarking Future Growth Potential , Big Data Analytics in Manufacturing Market , Manufacturing Analytics , Global Manufacturing Analytics Market
18-May-2020
Global
Frost Radar
