Assessment result for Guest Company.
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Companies are pursuing – and achieving – business goals by implementing machine monitoring and optimization. Initiatives to monitor and improve equipment are resulting in increased profitability in the vast majority of companies. Companies that follow the best practices across Tech-Clarity's Pillars of Machine Monitoring and Optimization are more likely to significantly improve their company profitability.
Based on our analysis, Guest Company's IoT Machine Monitoring Capability is: Below Average
The Strategy and Organization Pillar focuses on how companies create their machine monitoring and optimization strategy and the highest-level person they the put in charge of it.
The Monitor and Analyze pillar evaluates the techniques companies use to prepare, combine, monitor, and analyze their machine data so they can take action to optimize equipment.
Below, you can find your responses and how they align with our Five Pillars of IoT Machine Monitoring Capability.
IoT Machine Monitoring Capability Pillar 1 - Strategy and Organization
Top Performers organize for success. They are more likely to create corporate-wide strategies, align their initiatives with broader digital transformation strategies, and put a C-Level executive in charge of their machine monitoring and optimization strategy.
Guest Company's information
- Which of the following BEST reflects your company’s machine monitoring and optimization strategy? Your answer: Other / I don’t know
- What is the highest-level position in your company that is DIRECTLY responsible for machine monitoring, analysis, and optimization strategy? Your answer: Regional or Facility Manager
Recommendations based on our research
Our assessment shows that your company is Below Average in Strategy and Organization maturity. Improving this maturity is your company's Lowest opportunity for improvement.
1 Consider investing in machine monitoring and optimization.
2 Move responsibility for your machine monitoring and optimization strategy to the corporate level and put a C-level executive in charge.
IoT Machine Monitoring Capability Pillar 3 - Monitor and Analyze
Top Performers prepare their data for analysis by cleansing it, for example using edge computing, and combining it with additional data. While the most common data that companies across Performance Classes add is operational systems data, the most differentiated capabilities include combining information from enterprise systems and engineering data. Once information is collected, companies across Performance Class use a variety of methods to determine actions based on machine data analysis. The most common is a proactive approach, although the most differentiated is prescriptive, which is reported more than twice as often by Top Performers.
Guest Company's information
- Does your company cleanse equipment data to remove noise? Your answer: Other / I don’t know
- Does your company combine machine data with additional information from any of the following types of systems in order to gain additional insights? (select all that apply) Your answer: Other / I don’t know
- Which of the following best describe how your company acts on machine data and analysis? (select all that apply) Your answer: Other / I don’t know
Recommendations based on our research
Our assessment shows that your company is Below Average in Monitor and Analyze maturity. Improving this maturity is your company's Second Largest opportunity for improvement.
1 Adopt data cleansing to provide more valuable data to analyze and draw conclusions.
2 Consider combining more than operational data in order to increase the value of available insights.
3 Consider moving beyond reactive approaches to prevent expected issues based on some parameter such as time or run-hours.
IoT Machine Monitoring Capability resources for you
Read through our detailed report.
Next Steps to Improve IoT Machine Monitoring Capability
Leaders have higher IoT Machine Monitoring Capability maturity resulting in measurably better profitability.
Specifically:
- 86% of companies say profitability has increased by monitoring and optimizing machines
- 35% says it has increased significantly
Follow the recommendations in this report to increase your company's IoT Machine Monitoring Capability maturity and achieve these significant top- and bottom-line improvements.
For more information about the findings behind this assessment please see Improve Product Innovation and Profitability through Increased Digital Maturity.
Learn more about digital innovation maturity from our sponsor, Siemens.