The role of big data and analytics in optimizing production processes and their economic importance

Abstract

In recent years, significant attention in scientific research and the industrial sector has been given to the integration of big data and analytics to improve and optimize production processes. This article examines the role of big data and analytics in optimizing work procedures, their potential economic significance, and their impact on production capacities. The article analyzes various aspects related to the use of big data in an industrial environment, including data collection, storage, processing, and analysis. Big data from various sensors and real-time monitoring systems provide unprecedented opportunities for deep understanding and improvement of production processes. Comprehensive analytical tools allow for the interpretation of large volumes of data, identifying patterns and trends, which contributes to informed managerial decision-making. The economic significance of big data and analytics in the manufacturing industry lies in the ability to significantly reduce costs by enhancing equipment efficiency, reducing downtime, and improving product quality. Industrial enterprises can optimize planning and forecasting processes, leading to reduced operational costs and increased profits. Additionally, the implementation of analytical technologies contributes to the improvement of controlling and production management, increasing the adaptability of enterprises to changing market conditions and enhancing competitiveness. The article also emphasizes the importance of an interdisciplinary approach in using big data, including collaboration between IT specialists, engineers, and managers. Potential barriers and challenges are discussed, such as the need for highly qualified personnel, infrastructure requirements, and data security issues. In conclusion, it is stated that big data and analytics represent a powerful tool for transforming production processes, opening new horizons for industrial development in the digital age. The implementation of these technologies provides significant economic benefits, making enterprises more resilient and competitive in the global market.