Digitalization Is a Driving Force
Industrial managers in the DACH region agree: business success today is more closely linked to digital transformation than ever before. According to the latest "Digitalization 2024" study, more than half of industrial companies are increasing their digitalization activities despite the generally tense economic situation. However, the rapid pace of change and modernization has been overwhelming many companies and leading to a growing digital divide. For the study, Staufen, a management consultancy, and AppliedIT, a specialist in real-time analysis of industrial data, surveyed more than 400 industrial companies in Germany, Austria, and Switzerland.
"Digitalization is a driving force and an ideal tool for increasing performance during the crisis. This realization is becoming more and more widespread in industry. One in every two companies has decided to further increase the pace of digitalization. That's right," says Michael Feldmeth, head of the Digital and Industry 4.0 Practice Unit at Staufen. To fully exploit the potential of digitalization, Ignacio Quiñonero Ferrer, Managing Director of AppliedIT, recommends a comprehensive approach: "Looking at data in isolation only gives the company a snapshot. It is more effective to understand and evaluate the correlations between the data. This enormously increases the information gained. In this way, we can identify the levers with the greatest leverage in the process chain.
Digitization expert Ferrer is convinced that the promises of technological change can be fulfilled, and disappointed expectations avoided: "While digitization has already significantly increased transparency in four out of ten companies, only about half as many have seen truly noticeable positive effects in the areas of innovation, quality, and costs. This suggests that while companies are collecting a good deal of data, they are not yet analyzing it to gain deeper insights. In short, it is time to tackle the second part of the digitalization journey.
Looking at data in isolation only gives the company a snapshot. It is more effective to understand and evaluate the correlations between the data.
Ignacio Quiñonero Ferrer,
Managing Director,
AppliedIT
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