Rising operational costs, falling demand and the complexity of the global supply chain make automotive enterprises search for new ways to remain competitive. To overcome these challenges and keep up with the market, automotive companies turn to modern technologies. The technologies that are expected to deliver value in the automotive sector are the Internet of Things and data science.
IoT provides unprecedented visibility into the shop floor and supply chain operations. IoT systems collect data with the help of sensors, radio frequency identification tags and other sources, provide reliable and scalable storage for the collected data, offer tools for basic data analytics, and present the insights obtained with analysis in the form of reports.
To tap into predictive capabilities and realize operational and business value from IoT data, the collected information can be analyzed with machine learning techniques, which are rooted in data science.
Let's have a closer look at the operational improvements that automotive enterprises can get adopting smart solutions based on IoT and data science.