Emerging technologies such as advanced analytics and artificial intelligence (AI) are transforming the world of production. Although manufacturers are making strides in applying data-driven technologies, most focus on applications within their companies and have difficulty maximizing their return on investment. By sharing data across companies, manufacturers can unlock additional value and accelerate innovation. The potential value of data sharing simply by focusing on manufacturing process optimization has been estimated at over $100 billion, based on best practices.
To demonstrate the value of data sharing in manufacturing, this white paper examines five main areas where data sharing can help improve manufacturing operations. Analyzing the collaborations and dynamics behind them, the paper proposes a five-step framework to help manufacturers get started on data sharing. Finally, the paper investigates the key enablers for building successful data sharing relationships.