Research Shows Top 3 Tech Areas Most Interesting: Predictive Analytics, Cloud, Big Data; Analysts See Manufacturing Leapfrog Opportunity to Create Competitive Differentiation
When asked if they have ever read or heard about new technologies like Predictive Analytics, the Internet of Things (IoT) and Bots – all of which are areas cited by industry technology analysts among the hottest, most important breakthroughs for the manufacturing/distribution industries – many respondents admitted confusion. More than half (54%) had no idea of what Predictive Analytics or Bots really are. Just over half (about 55%) have heard about IoT technology and among those familiar with it, say they are looking for new efficiencies.
However, when asked to rank their number one area of interest, among a list of six of the market’s newest breakthrough technologies, three specific IT areas were substantially higher than others. Here was the percentage breakout of the respondents’ number one choice:
- Predictive Analytics (34%)
- Cloud Deployment (32%)
- Big Data (17%)
- Internet of Things (8%)
- Bots (5%)
- Facial Recognition (4%)
SYSPRO asked leading manufacturing industry analyst firm, ChainLink Research, for insight on how they interpreted that general lack of new IT knowledge among manufacturers, and how companies should view the opportunity to embrace them.
“While we are in a hype cycle for advanced technologies like the Internet of Things, and to a lesser extent Predictive Analytics, many mid-sized businesses still struggle with the basic blocking and tackling of automating core processes and just moving from paper-based approaches onto modern enterprise systems,” said Bill McBeath, Chief Research Officer for ChainLink Research. “However, advances in rapid deployment approaches and technologies provide the opportunity for these companies to ‘leapfrog’. Similar to the way some developing countries have been able to jump to the latest wireless communications infrastructures, companies that are just embarking on automation of their enterprise have opportunities to go all digital and embrace IoT, machine learning, and predictive analytics to create some real competitive differentiation.”
SYSPRO is one of the longest-standing and largest independent, international providers of ERP systems for manufacturers and distributors worldwide. SYSPRO has for more than 35 years delivered on its promise to provide thousands of its customers globally with the tools required to effectively operate and compete. Backed by a truly dedicated and professional team of employees and partners around the world, the company’s ability to innovate and develop technologies based on the needs of customers is one of the reasons why SYSPRO enjoys one of the highest retention rates in the industry.