The Data Awakening: How Untapped Insights Are Disrupting Industrial Norms

The data awakening - how to turn every byte of data into a strategic asset 

Data presents businesses with one of the biggest opportunities for growth, innovation, reinvention, and scale. The world generates over 2.5 quintillion bytes of data daily, yet this goldmine of opportunity is too often trapped in silos, hiding untapped value, unseen insights, and unexplored AI potential. 

Despite the opportunities presented by data and AI, too many industries still grapple with outdated data practices. Companies that do this are leaving significant value on the table. 

One of the biggest issues that industry faces in this regard is fragmented data systems. Data that is siloed across disparate platforms and departments hinders the accessibility of that data. It also creates inefficiencies when it comes to managing and analyzing data.  

Industry is leaving value on the table 

But for leaders in industry, making sense of the sheer volume of data can be overwhelming. “While 74% of firms say they want to be data-driven, only 29% are actually good at connecting analytics to action,” researchers at Forrester say. This gap points to a disconnect – most asset intensive businesses are not able to liberate the potential in all that information because they can’t transform data into actionable insights. 

“Most industrial organizations are data-rich but insight-poor. They've invested millions in sensors and monitoring systems but struggle to convert this raw information into actionable intelligence that drives material business outcomes,” says Keith Kirkpatrick, Principal Analyst at Forrester Research. 

Industry experts call this the “industrial data paradox,” because industry is simultaneously collecting more data than ever before but is extracting less proportional value.  

Businesses are losing almost a third of their annual revenue 

The financial implications of this are worrying; the failure to effectively collect, manage and process data comes at great cost. “Companies that fail to leverage data effectively risk losing 20-30% of their annual revenue,” a report by McKinsey reveals. 

These losses manifest in different ways: 

Operational inefficiencies: Decision-makers are unable to identify and address inefficiencies without a unified view of operations. Increased downtime, higher maintenance costs, and reduced productivity are the consequence. 

Missed opportunities: It is difficult, if not impossible, to identify new opportunities for growth and innovation when data is fragmented. A good example of this is predictive maintenance insights. When data is accessible and actionable, businesses can produce predictive maintenance insights that reduce downtime and extend the lifespan of machinery. 

Regulatory risks: In the pharmaceutical and energy industries, which have strict regulatory requirements, the inability to effectively manage data can lead to compliance issues and potential fines. 

Data has long been a silent partner in business because it is often underutilized and misunderstood. But a new era is dawning – one where data is not just a byproduct of operations, but a transformative force that will disrupt inefficiencies to power unparalleled optimization.  

At Radix, we call this shift ‘The Data Awakening.’ Why? Because we believe that every byte of data holds the potential to revolutionize how industries operate, innovate, and compete. 

The Data Awakening has arrived 

The awakening speaks to a time in industrial operations where every byte of data drives strategic decisions. To realize this vision, industry needs to embrace technological advancement. Equally important, to enable The Data Awakening, companies must make a cultural shift to making data-driven decision-making the norm. This is possible with a partner like Radix at your side. 

Radix is already driving this transformation for industries around the world, guiding businesses towards a future where data is not just collected but harnessed for operational excellence. We do this to ensure the businesses we partner with are more profitable, sustainable and competitive in a volatile and unpredictable world. 

The key to unlocking the full potential of data lies in real-time, contextual insights. Unlike traditional data analysis, which often involves retrospective reviews, real-time insights enable proactive decision-making. In industry, think of real-time machine monitoring that alerts operators to potential issues before they escalate, to reduce downtime and maintenance costs. 

Contextualization is just as important. Let’s face it: data without context is noise. By interpreting data in the context of specific business goals and challenges, decision-makers within industry can take informed actions that drive better outcomes. 

Insights that drive growth in uncertain times 

The Data Awakening is the shift that visionary industrial leaders are taking today, to create value in an ambiguous, uncertain and volatile world. By embracing real-time insights and actionable intelligence, decision-makers in companies can disrupt long-held inefficiencies and unlock new paths to innovation and growth.  

To realize the true potential of data, companies in asset-intensive sectors like oil and gas, energy, manufacturing, and the infrastructure and services sector, must achieve two critical goals:  

Unlock Data for Real-Time Insights: Enable operators, engineers, and data scientists to work with a unified understanding of the production landscape.  

Simplify Operations: Use innovative technologies and strategies to enhance efficiency throughout the production lifecycle.  

At Radix, we are committed to awaken to the full potential that data brings for our partners and clients in industry. By breaking down data silos and providing real-time, contextual insights, Radix empowers enterprises to turn every byte of data into a strategic asset. More so, it enables the asset-intensive companies we work with to accelerate, optimize and scale like never before. 

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