Industrial Data Generation on the Rise
In a recent report by ABI Research, it was predicted that the amount of operational technology (OT) data generated by industries would skyrocket to 4.4 zettabytes worldwide by the year 2030. This staggering figure is expected to almost match the data volume expected from all mobile subscribers at that point in time. With the rapid advancement of technology and the increasing digitization of industrial processes, the generation of data within enterprises is reaching unprecedented levels.
Enterprises that are harnessing the power of the latest operational technologies are being urged to make heavy investments in data storage and network infrastructure upgrades to support the transmission of this vast amount of information. According to ABI Research, sophisticated data management systems are also essential to effectively handle the influx of data. Leo Gergs, the principal analyst for hybrid cloud and 5G markets at ABI, pointed out that currently, only 5% of the operational data generated by enterprises is being properly utilized due to high friction between data siloes.
Challenges in Utilizing Industrial Data
One of the major challenges highlighted in the report is the issue of cybersecurity. With critical system information being generated at such high volumes within industrial enterprises, it becomes a tempting target for cybercriminals. ABI Research warns that as data becomes the lifeblood of industrial enterprises in the era of Industry 4.0, the need for stringent cybersecurity measures becomes paramount. Any breach in data security could have severe consequences for businesses operating in hazardous environments where data malfunction could lead to catastrophic outcomes.
Gergs emphasized the critical nature of OT data in enterprises, stressing that it plays a pivotal role in ensuring safety and maintaining business operations. He compared the data generated by industrial enterprises to that of consumer data in telecommunications networks, highlighting the vastly differing nature of the two. While consumer data may consist of entertaining content like cat videos and memes, OT data in enterprises deals with real-time conditions in hazardous environments and plays a crucial role in operational efficiency and safety.
The Importance of Proper Data Utilization
The report underscores the importance of properly utilizing the vast amounts of data generated by industrial enterprises. With only a small fraction of this data being effectively utilized at present, there is immense potential for enterprises to leverage their data for innovation and efficiency gains. Gergs stressed the need for enterprises to break down data siloes and implement robust data management systems to extract valuable insights from their operational data.
As the volume of data generated by industries continues to grow exponentially, the need for efficient data utilization becomes increasingly critical. Companies that can effectively harness the power of their data stand to gain a competitive edge in their respective industries. The ability to analyze and act upon the vast amounts of data being generated can lead to improved decision-making, enhanced operational efficiency, and ultimately, greater business success.
Looking Towards the Future
The future of industrial data generation holds immense promise and potential for enterprises willing to embrace the digital transformation of their operations. As technologies such as IoT, AI, and machine learning become more prevalent in industrial settings, the volume of data being generated is only expected to increase further. Companies that proactively invest in data storage, network infrastructure, and cybersecurity measures will be well-positioned to capitalize on the opportunities presented by the data-driven economy.
In conclusion, the industrial landscape is poised to match the data volume generated by mobile subscribers in the coming decade. Enterprises that can effectively manage and utilize their operational data will have a competitive advantage in an increasingly data-driven world. The challenges of data security and proper data utilization must be addressed to ensure that industrial enterprises can maximize the potential of their data assets. As we move towards Industry 4.0 and beyond, the role of data in driving innovation, efficiency, and safety in industrial operations cannot be overstated.