TECH SUPPLIER Dec 2019 - IDC Survey Spotlight - Doc # US45717119
Product Life-Cycle Analytics: A Key Investment for EOVC (Auto, Aero, Machinery) Manufacturers
This IDC Survey Spotlight shows the current and planned investment and the varied domains that analytics will be applied to, including ideation and design, engineering process, manufacturing execution, and quality.
Analytics has become a critical focus area for engineering-oriented value chain (EOVC) organizations as products, processes, and customers become increasingly digital and connected. This includes discrete manufacturers with the aerospace and defense, automotive, heavy equipment, and industrial machinery markets that produce complex products with content from multiple engineering domains including mechanical, electrical, and software. The content and models from each of these domains need to be modeled, simulated, and optimized at every stage of the product life cycle, from ideation through systems engineering, simulation and testing, and manufacturing, as well as during service and operation.
Product life-cycle analytics has become a critical enabling tool within the product innovation platform that supports these processes. EOVC manufacturers must make rapid decisions based on large, multitiered data models to ensure good product performance, high levels of quality and, perhaps most importantly, functional safety. Ensuring functional safety of complex discrete products like planes, cars, and trucks has of course always been mission critical; with the move to fully autonomous vehicles, the importance of this initiative has risen in importance. To complement product life-cycle analytics, companies have also begun to invest in using and maintaining digital twins of products and processes, as well as AI and machine learning for improved optioning and augmented decision making.
We expect product life-cycle analytics investment to continue to expand.