Unlocking Data Value in Manufacturing

Nearly three-quarters of manufacturing managers worldwide consider data sharing to improve their operations. In a recent study, the World Economic Forum, in collaboration with Boston Consulting Group, entitled Share to Gain: Unlocking Data Value in Manufacturing, examined the opportunities associated with data sharing in manufacturing and the enablers for building successful data-sharing ecosystems. Although manufacturers are making strides in applying data-driven technologies, most focus on applications within their companies and have difficulty maximizing the return on investment. By sharing data across companies, manufacturers can create even more value and foster faster innovation. The potential value of data sharing by focusing on manufacturing process optimization alone has been estimated to be more than $100 billion.