More than four fifths (83 per cent) of UK manufacturers see digital transformation as a key business objective. However, they’re faced with a number of obstacles along the way, which is hindering the process.
This is according to a new report by enterprise information management firm OpenText. In the report, the company says the inability to prove ROI, or successfully analyse large datasets, are among the manufacturers’ biggest obstacles.
Four in ten (40 per cent) of UK manufacturers have already implemented Industry 4.0 initiatives, while 47 per cent are in the middle of that transformation. Among 84 per cent of these companies, digital transformation is a board-level topic, with 26 per cent saying it’s a ‘primary business objective’.
“Manufacturers in the UK recognise the value of digital transformation but our research reveals major barriers are still holding them back from fully embracing this approach and turning it into their advantage,” commented Thomas Leeson, industry marketing strategist, manufacturing sector, at OpenText.
“Faced with a severe skills gap, uncertainty around Brexit and a daunting quantity of data, many are struggling to successfully implement these processes.”
“Effective data management and analytics will underpin any digital transformation success. However, given the expected exponential growth in the volume of data gathered, businesses must ensure they are prepared to effectively categorise, manage and interpret this data.
Companies are also fighting hard to combat digital disruption. More than seven in ten (71 per cent) have plans on counteracting the impact of digital disruption for at least a year. However, 79 per cent confirmed that despite plans, the disruption would still affect their business. Almost half (47 per cent) described this impact as ‘major’.
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