The enterprise manufacturing intelligence market is expected to expand at a compound annual growth rate (CAGR) of more than 13% over the next five years. The market will exceed $750 million in 2011 and is expected to reach more than $1.4 billion by 2016, according to a new study by the ARC Advisory Group, ”Enterprise Manufacturing Intelligence Worldwide Outlook”.
Enterprise manufacturing intelligence (EMI), sometimes called manufacturing intelligence (MI) or collaborative manufacturing intelligence, consists of the framework of integrated software and services that bring a company’s manufacturing data from disparate sources together for reporting, analysis, visual summaries, and synchronizing data between enterprise-level and plant floor systems. A common goal for using EMI is to turn plant data into useful knowledge that drives more informed decisions. The core components of EMI include application connectors, data integration, data collection, contextualization, a data or production model, analytics, visualization, and reports or dashboards.
Most manufacturers are already collecting and extracting lots of information but more timely real-time and near-real time information can help companies make better decisions faster. The typical employee spends 30-60 percent of the time collecting and finding the right information, which can be highly unproductive. The common manufacturing criticism heard from clients is, “we’re drowning in data but starving for information.”
Learn more about the Enterprise Manufacturing Intelligence Worldwide Outlook study