Festo is one of the leading industrial manufacturers. They produce components for robotics and various other industries. Today there is certainly no factory in the world that does not work with Festo components. And they have made their way to a customer focused data driven company, after many milestones had to be overcome. Find out how Festo mastered them and why AI solutions are the key components of digitization for Festo.
They give a unique insight into their secret recipe for smart products that meet customer expectations and they discuss with Michael Fieg (parsionate) and Aslam Jamal (Informatica) about the bigger picture of creating outstanding data strategies and what is to consider when doing it.
Head of IT Portfolio Innovation and Architecture – Festo
Alignment between departments is complex, but it is necessary. Make sure that all different departments in your company are aligned. Otherwise, they will develop in different directions and end up with different platforms and things. This is a waste of time and money.
IT-Manager Big Data & AI – Festo
First, create the foundation: governance, data storage, the combination of data and so on. Everything you need to do to make data more valuable with AI. Do not start with AI first because it is a current hype and forget about the rest. Because then you will have a lot of rework and waste a lot of money.
Founder & Managing Director – parsionate
When digitalization came up in the market, all companies focused on front-end, portals and websites for customers, all these things. After some time, they realized that the biggest problem was sitting somewhere in the back. There's a monster having to do with data and master data, referencing, all these things. We started this webcast series to discuss exactly these different views on digitalization and especially on these back-end things, like data and analytics. Since we think that this is one of the main pillars for digitalization strategy.
Vice President, Channels, EMEA & LATAM – Informatica
Artificial Intelligence allows us to replace a lot of the intensive labour to the bigger part. To understand the patterns, understand the trends and do that in a real agile way. Not only creating insights that lead to decision making but most importantly to lead to automation.