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The almost boundless possibilities of realizing saving potentials and innovations drive manufacturing companies to implement Business Analytics as part of the digitalization roadmap. The increasing research within the field of algorithm design and the wide range of user-friendly tools simplify generating first insights from data also for non-professionals. However, small and medium sized companies struggle implementing Business Analytics company-wide due to the lack of competencies. Especially the customization of a multitude of analytic methods in order to match a superordinate, business-relevant question is not done easily. This paper enables researchers as well as practitioners to close the gap between business relevant questions and algorithms. From a practical point of view, this paper helps shortening the search time for a suitable algorithm. Out of a research perspective, it aims to help positioning new algorithms within a structured framework in order to enhance the communication of algorithms’ capabilities.
Digitalization is changing the industrial landscape in a way we did not anticipate. The manufacturing industries worldwide are working to develop strategies and concepts for what is labelled with different terms such as the Industrial Internet of Things in the USA or Industrie 4.0 in Germany. Many industrialized economies are driven by the production sector and this sector needs specific approaches and instruments to take up other than those approaches we know from start-ups and ventures coming from Silicon Valley and other places. In this paper, we demonstrate an appropriate approach to transform producing companies in a systematic and evolutionary approach.
In particular, the objective of this paper is to provide results from two initiatives which conceptually build upon each other and are of particular relevance for the production industry. First, we present a global survey on the state of implementation and the future perspectives of the concept Industrie 4.0 from 2016. Findings from this study have forced parts of the German industry to heavily invest into a common approach to accelerate change towards Industry 4.0 in order to stay competitive in worldwide economy. This approach is presented in a second part.