What is a Connected Factory?
A connected factory uses cloud-based services like storage and analytics to assess historical trends and real-time data collected from manufacturing devices. This type of factory offers a handful of benefits for streamlining and simplifying business functions and identifying areas for improvement or innovation.
Digital disruption refers to the transformative change that occurs when new technologies revolutionize business processes, products, or services. It is a true hallmark of the modern age, as products and services that were once a thing of the imagination become a reality of daily life.
Leverage Your Data to Discover Hidden Potential
The amount of data in the insurance industry is exploding, and the number of opportunities to leverage this data to achieve large-scale business value has exploded along with it. Rapid integration of technology makes it possible to use advanced business analytics in insurance to discover potential markets, risks, customers, and competitors, as well as plan for natural disasters.
Unless companies in traditional industries disrupt themselves, the high-tech industry will encroach, overtake and eventually make their business models obsolete. In the book ‘Crossing the Digital Faultline’ Sri Manchala explains Rule #3, using which highly successful digital leaders unhesitatingly discard success formulas of yesterday and go on the offensive on the tech industry.
