Digitalization enables rational, data-supported decisions
Köngen (ots) – According to the current study “Performance Drivers 2024”, eight out of ten industrial companies assume that the introduction of new technologies such as artificial intelligence will give them a boost in productivity. Great potential is seen in data analysis in particular to identify weak points more quickly and achieve corresponding improvements in results. For the study, the management consultancy Staufen surveyed more than 200 industrial companies in Germany, Austria and Switzerland.
“After many years of experimentation and investment, the time is ripe for a boost in productivity. Digitalization can now deliver on its promises of greater efficiency and cost advantages in industry,” says Dr. Michael Feldmeth, Head of the Digital & Industry 4.0 Practice Unit at Staufen. The new digital analysis options would now enable deep insights into the processes – including their controllability in real time. “This provides the basis for far-reaching and continuously adaptable optimization measures that serve as a driver for operational excellence in the company,” says the industry expert.
73 percent of the companies surveyed in the DACH region associate the use of new technologies such as artificial intelligence (AI) with “enormous economic potential for our industry”. 81 percent even expect a significant increase in productivity for their own company. According to Staufen consultant Feldmeth, the industry is in a state of upheaval: “84 percent of the study participants expect a rapid change in the industrial working world due to technological developments. The close integration of employees with intelligent systems will soon shape everyday working life.”
Data analyzes to improve results still have a lot of potential
Networked machines and automatically controlled supply chains lead to a growing mountain of data in companies. However, this is increasingly being used productively. At least 83 percent of companies assume that data analysis can be used to quickly identify weak points and improve results. However, 86 percent also admit: “We can make much better use of the potential of data analysis to improve results.”
“Digitization projects do not take place in isolation, but are usually accompanied by process improvements. The success of this approach: As digitalization increases, two thirds of the study participants are already making decisions based on data more and less on gut instinct. And six out of ten companies note that Access to data has now improved,” reports Industry 4.0 expert Feldmeth.
He still sees room for improvement with the changes achieved so far: “In only 39 percent of companies have decision-making processes become faster and only 18 percent have reduced hierarchies. In order for digitalization to develop its full potential, companies also need a new type of collaboration to consistently align their processes towards value creation and operational excellence. The goal is always a harmonious and perfectly coordinated overall system.”
About the “Performance Drivers 2024” study
At the beginning of the year, Staufen AG surveyed 209 industrial companies in Germany, Austria and Switzerland for the “Performance Drivers 2024” study. The full study results can be found requested here become.
Save the Date “BestPractice Day 2024”: Operational Excellence – next level
For more than 15 years, Staufen AG’s BestPractice Day has been a must-attend event for everyone who has one goal above all, both for themselves and for their company: operational excellence. On June 25th, BestPractice Day 2024 will once again offer a whole day full of know-how, insights and networking opportunities. How do world market leaders manage to increase their performance even in times of crisis? How can the possibilities of digitalization and artificial intelligence be unleashed? What does leadership have to achieve in the future? If you would like answers to these questions, you can register directly here: https://www.best-practice-day.com/
About Staufen AG – www.staufen.ag
Value creation. Appreciation. Increase in value.
There is an even better one in every company. With this conviction, Staufen AG has been advising and qualifying companies and employees worldwide since 1994. Staufen AG is the leading top management consultancy for operational excellence. Staufen AG enables its customers to improve results in all areas along the value chain. The interlinking of process excellence and leadership excellence also ensures a long-term, continuous improvement culture. With appropriate strategies and methods, Staufen AG initiates the right changes and quickly achieves measurable success. The consulting company enables companies to establish a performance-enhancing corporate culture and sustainably increase value creation. With 300 employees, the international consultancy for operational excellence supports customers worldwide in the areas of performance improvement, supply chain network management, organizational development, digitalization and Industry 4.0. In 2024, Staufen AG was named “Best Management Consultant” for the eleventh time in a row and was named Germany’s best lean management consultancy as part of the “Hidden Champions 2022/23” industry study by the Scientific Society for Management and Consulting (WGMB). The US magazine “Forbes” ranks Staufen AG among the “World’s Best Management Consulting Firms 2023”, and “Wirtschaftswoche” recently honored another customer project with the “Best of Consulting” award.
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