IMPACT OF DATA ANALYTICS IN MANUFACTURING SECTOR | Sankhyana Consultancy Services
Data Analytics has a tremendous impact on the manufacturing sector. Since the industry is facing so many problems like how they'll improve the quality of their product, when they must adopt new technology, how they'll increase their reach, etc. The analysis of the data helps them to understand each and everything.
Data Analytics help the manufacturing sector to understand customers' requirements, categories, and behavior. It also helped them to understand their market share, the impact of competitor's activities, how to monitor their machines, and how to monitor their supply chain of the products and many more things as well. In, this very competitive market, it is the need of every manufacturing organization to adapt an Analytical solution. The bottom line is every organization completely depends on Data Analytics for their better decisions making and to sustain in this ruthless market.
In the whole world, 77% of manufacturing organizations believe that they have chosen the right weapon, which helps them to stay in this aggressive business market and are also able to realize their business advantages.
Impact of the Manufacturing sector on Indian Economy: The manufacturing sector contributes 15% of the Gross Domestic Product (GDP) of our country, and it is expected to reach 25% by 2022. Hyundai has made India the manufacturing hub for its cars. Their (i10) is being manufactured only in India and exported to the world. As, you can see that this sector is playing an important role in the Indian economy, but this sector is completely dominated by other developed countries like China, Japan, and America.
The latest report on Manufacturing Sector The Global Manufacturing Analytics Market was valued at $3.25 billion in 2016 and is expected to reach $19.47 billion by 2025, growing at a CAGR of 22.01% from 2017 to 2025. And expected to create 100 million jobs in this sector by 2025. India is also expected to reach the top 3 manufacturing countries by the end of 2020.
How Manufacturing Sector will help in boosting your career There is a massive career scope in the Manufacturing sector. India is one of the biggest manufacturing job provider countries. You must know the right skill to get a reputed and highly paid job in this industry. We are offering some Analytical courses, which will help you to move towards a phenomenal career in Manufacturing.