In the automotive industry, the ability to adopt new technology at speed is directly linked to a company’s competitive edge. In such a landscape, data is the key to differentiation. Admittedly, OEMs understand that their ability to transform hinges on how effectively they can access and use the data the industry increasingly relies on, from vehicle design to manufacturing.
However, the problem is that this valuable asset tends to be inaccessible or locked away in siloes. As a result, this means OEMs cannot act with the speed and confidence required to develop great customer experiences. Shockingly, a lot of it is not being used at all. So how can these siloes become joined up to accelerate the development of innovative and engaging customer experiences?
The starting point is a robust data strategy. Connected vehicles are creating a gold rush for the automotive industry with the data and insights they generate. To put a number on it, NetApp estimates that monetising vehicle data could boost global automotive revenue by US$750bn by 2030. It’s a massive opportunity for the automotive industry and data silos are major obstacles to realising it.
A robust data strategy is the first step to breaking down these siloes, from the factory floor through to the entire supply chain. This data strategy must outline the measures for the storage, collection, management and protection of data flowing from vehicles. This creates a foundation for the seamless movement of data between vehicles and OEMs, and can allow them to tap into the insights held within more easily. And ultimately, this empowers decision-makers with actionable insights for agile responses and sustained growth.
Hosting a product lifecycle management (PLM) software in the cloud is the key to implementing data strategies. Coupled with a robust data management infrastructure, a PLM can help accelerate projects and simplify operations. This is crucial because speed is the name of the game when it comes to bringing new innovations to market, especially in this highly competitive market since the arrival of electric vehicles and software-defined vehicles.
Monetising vehicle data could boost global automotive revenue by US$750bn by 2030
With the arrival of AI, data generation is accelerating significantly. This is especially true with generative AI which can offer a range of designs in record time—designs that must be stored and then simulated, tested and validated. Machine learning then takes over to test a previously unimaginable number of scenarios, requiring very dynamic storage capacity.
PLM solutions are well known for boosting productivity, collaboration, product quality and shortening the time to market. But traditional procurement cycles are time-consuming and are expensive to maintain. Migrating mission-critical PLM solutions to the cloud can help overcome these roadblocks, while simultaneously providing the agility, innovative performance, and operational efficiency that only the cloud can offer.
With a global data strategy and infrastructure in place, OEMs are much better placed to meet evolving customer expectations for increasingly personalised mobility experiences.
The opinions expressed here are those of the author and do not necessarily reflect the positions of Automotive World Ltd.
Jean-Christophe Lamodiere is Industrial Manufacturing Global Practice Director at NetApp
The AutomotiveWorld.com Comment column is open to automotive industry decision makers and influencers. If you would like to contribute a Comment article, please contact editorial@automotiveworld.com
