Strategic Decision Making in Industrial Operations
Strategic decision making in industrial operations leading to differentiating performance is challenging: all data may not be available, some of it may be inaccurate or outdated, and optimisation requires complex algorithms. In addition, the human mind tends to make errors and apply cognitive biases.
Data-driven operations can improve decision making and today’s technology can help personnel in accessing, cleaning and combining data.
Industrial information modeling can help derive information from data. This information must be presented in a meaningful way to the different profiles in the organisation and assist in decision making by applying AI and machine learning.
Today’s industrial cloud ready platforms, such as ABB Ability Genix Industrial Analytics and AI Suite have these capabilities and can contribute to lower cost and risk, improve return on assets, improve sustainability and profitability.
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