Restrictions on public life and concerns about a second wave of infections make every day even harder than before. European share markets have been impacted by the decrement in shares’ value.
Moreover, industrial production in the EU has been decreased by around 17% in April after a 12% drop in March. Production in April 2020 is 28% lower than the same month last year. The industry is significantly distressed by the consequences of COVID19. Even though governments came up with preventative plans, they seem to be inadequate and not yet fully developed. Every loss of production causes enormous costs, which companies have to bear. The question here is how industrial companies can protect themselves from such unpredictable effects? And which preventive measures make sense? When we take a look at the common challenges of a wide variety of industrial sectors, it quickly becomes apparent that the company problems are usually results of a lack of digitalization, even so digitalization can introduce added values. One possible solution is to develop data-driven processes in the company, these can be carried out without physical manpower. Today the demand for algorithmic process monitoring is more than ever, because it gives us the possibility to identify the risks at an early stage. Integrating data analysis and risk management provides an opportunity to make future challenges less invasive and more controllable. It is also possible to increase process efficiency by carefully collecting, evaluating, analyzing data. Our goal is to establish these added values in our customers’ sites to achieve the highest possible performance. By processing our customer’s project data, we build specialized components and modularize the monitoring algorithms for product development. Our solutions in predictive maintenance, predictive quality and process optimization, are trying to improve the business performance too. As a strong partner in Industry 4.0 we improve your business performance and thus also make your company more risk resistant, especially in the Corona crisis.