Why manufacturing leaders choose custom Machine Learning solutions
Marvin is the CTO at Autocomp Inc- an auto component manufacturer. Their production capacity was challenged and was unable to suffice the demand. Upon diving deep, it was seen that their machinery had the potential to produce more output. If they were to know their machines better, they could predict machine failure, reduce the duration of the repair and automate further maintenance cycles. When all machines would function at optimum capacity, they could meet the market demand.
Machine Learning and Artificial Intelligence solutions have a far better scope than these benefits. Even better- these solutions can significantly impact other Industries too. Businesses can leverage the power of these solutions and scale up their efficiency.
However, out of the plethora of solution providers, which one do you hire for your business? Which technology company can enable disruption? Here is where a custom machine learning solution provider comes into the picture. These solution providers are consulting organizations. They consist of the perfect amalgamation of industry knowledge and technology expertise. This combination has tremendous potential and can empower your business to transform digitally. Innovation, efficiency, optimization is now possible within the existing infrastructure. The ML and AI consultants can unlock the power of your existing data and provide you with unprecedented patterns and relationships.
Marvin’s search for the perfect technology partner continued for quite some time. Meanwhile, his company faced more shortcomings and delayed production. Many a time, his machinery even faced emergency shutdowns. He narrated such problems to solution providers. They tried to fit in his problems into their solutions. Upon much wiggling, one/two solutions seemed to fit. However, the cost & project duration was not desirable. Thus, industry consultants and custom solutions became necessary.
The primary benefit of custom machine learning solutions lies with flexibility. These solutions are void of the ‘one-size fits all’ strategy. Irrespective of the nature and number of business challenges, they can be solved using a combination of multiple technologies. In such a case, the cost of the project takes a lesser significance than the impact. The solution teams consist of Data Scientists, ML Algorithm professionals and domain experts. Their collaborative efforts have the power to enable intelligent actions. Whether you want to control the machine or monitor its performance, this can be done seamlessly. The new system integrates effortlessly with your current ones. Training your machines with ML Models can contribute to faster realization of business objectives. Often, this leads to the creation of newer opportunities of revenue generation as well.
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Custom solutions take into consideration the number and skill set of existing resources. They provide ease of use and simplicity, incomparable to market-ready products and services. To derive actionable insights from your data, it is imperative to build solutions, best fit to the organization’s technology capabilities. Whether live demos, training and other educational material are required, it can be provided. For a successful execution and fulfilment of necessary goals, a glove-like fit of the ML model is required, which can be ensured with custom solutions. Depending upon the number of releases, the turnaround time can also be shortened, and faster results can be achieved.
Marvin met with a Machine Learning Expert for the Manufacturing Industry. The Consultant seemed enthusiastic. While the previous solution providers explained Marvin their product features, this consultant listened to Marvin. The Consultant listed all problems and mapped it with available technology competencies. It was not his target to sell any product but to solve Marvin’s problems. A new project commenced. It simplified business decisions regarding predictive maintenance, automate maintenance cycles and derive maximum output from equipment. Then together, they strategized and kickstarted the project. Within a couple of months, John found himself training his employees for the increased velocity and efficiency throughout Autocomp Inc.
ML only for Manufacturing?
Further to Manufacturing, the desired results for cross-functional competencies can be developed and achieved. Empowering Marketing and Sales Departments, Custom ML Solutions enable alerts and notifications for an area/employee/product and its performances. The same solution can consist of BI dashboards which provide data on consumer preferences and predict market needs. This paves the way to effective product R&D and upgrades. Human Resources departments and companies can make use of such data to train employees and plan recruitment of candidates with desired the skill set. For retail companies, it becomes easier to predict and plan inventory management. The opportunities to upsell and cross-sell products and services emerge. Effective market segmentation gives rise to an enhanced ROI per customer and loyalty. Isn’t that the most important in a business?