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Study finds 84% of industrial multinationals make key decisions without vital data

Study finds 84% of industrial multinationals make key decisions without vital data

Business StrategyEuropeManufacturingMiddle EastNorth AmericaTop Stories

AVEVA, a global leader in industrial software, has announced the results of a new global study which found that more than eight in 10 top executives say key business decisions are being made without full data visibility and insights from their plants and assets. The study, Connecting the Future, was released in partnership with Wakefield Research and polled 650 executives at global companies with a minimum annual revenue of US$50 million in the chemicals, manufacturing and power industries across North America, Europe and the Middle East.

With no end in sight to global business disruptions, 87% of executives plan to increase their organisation’s investment in industrial digital solutions over the 12 months, given the need for the type of connected data that can drive decisions needed to address growing combined challenges of economic uncertainty, unstable geo-political environments, historic labour shortages and disrupted supply chains.

Industrial leaders across key industries such as oil and gas, energy, manufacturing, utilities and transportation, also understand the need to leverage digital solutions now more than ever. The greatest investments to tackle supply chain complexities are in analytics and AI, Industrial IoT, cloud computing and Edge Computing solutions in the next 12 months.

Kim Custeau, Executive Vice President of Portfolio, AVEVA, said: “Leading companies are investing in cloud-based software solutions enriched with sector-specific AI to connect their teams, drive deeper collaboration and build the industries of the future. This gives leaders the agility, resilience and sustainability capabilities they need to succeed in today’s fast-evolving industrial landscape.”

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