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Survey Finds Manufacturers Lag in Modernization Despite Surge of Pandemic-Driven InvestmentsLack of Digital Maturity in U.S., U.K. Manufacturing Remains Serious Roadblock to Productivity FOOTHILL RANCH, Calif., May 16, 2022 /PRNewswire/ -- iBASEt, the company that simplifies how complex products are built and maintained, today announced results of an original survey of more than 400 manufacturing executives in the U.S and U.K., which found that manufacturers are lagging in digital transformation efforts in spite of earlier pandemic-driven investments in new technologies. Respondents confirmed that although Industry 4.0 advancements were critical to sustaining operations during shutdowns, most manufacturers today in the U.S. and U.K. still grapple with a lack of system and process maturity that prevents them from leveraging operational data for business intelligence and smarter decision-making. Case in point, nearly three-quarters (72%) of respondents invested in new technologies during the pandemic, and 98% saw increased productivity. However, fewer than half of respondents (44%) said that this modernization was providing them with additional actionable data, and 19% are not harnessing any data insights at all. "As the volume of manufacturing data continues to explode, it's critical that manufacturers modernize their systems and technologies to make use of critical data for business intelligence and more informed decision making," said Naveen Poonian, CEO of iBASEt. "The ability to not just embrace Industry 4.0 at stage one, but to then convert critical data into actionable improvements is pivotal to a true digital transformation."
Two-thirds (66%) of respondents believe this accelerated move to the cloud will unlock benefits that help drive operational efficiency. Only 8% have "no plans" to use cloud infrastructure as part of manufacturing operations. Other Key findings:
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Methodology iBASEt's independent research was conducted in March 2022 across the UK and US. In total, 403 manufacturers (from the aerospace & defence, medical device, industrial equipment, electronics and ship building sectors) provided feedback – 201 from the UK and 202 from the US. About iBASEt Media Contact View original content:https://www.prnewswire.com/news-releases/survey-finds-manufacturers-lag-in-modernization-despite-surge-of-pandemic-driven-investments-301546053.html SOURCE iBASEt |