Book Image

Industrial Digital Transformation

By : Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel
Book Image

Industrial Digital Transformation

By: Shyam Varan Nath, Ann Dunkin, Mahesh Chowdhary, Nital Patel

Overview of this book

Digital transformation requires the ability to identify opportunities across industries and apply the right technologies and tools to achieve results. This book is divided into two parts with the first covering what digital transformation is and why it is important. The second part focuses on how digital transformation works. After an introduction to digital transformation, you will explore the transformation journey in logical steps and understand how to build business cases and create productivity benefit statements. Next, you’ll delve into advanced topics relating to overcoming various challenges. Later, the book will take you through case studies in both private and public sector organizations. You’ll explore private sector organizations such as industrial and hi-tech manufacturing in detail and get to grips with public sector organizations by learning how transformation can be achieved on a global scale and how the resident experience can be improved. In addition to this, you will understand the role of artificial intelligence, machine learning and deep learning in digital transformation. Finally, you’ll discover how to create a playbook that can ensure success in digital transformation. By the end of this book, you’ll be well-versed with industrial digital transformation and be able to apply your skills in the real world.
Table of Contents (15 chapters)
Section 1: The "Why" of Digital Transformation
Section 2: The "How" of Digital Transformation

Digital revenue

This section will focus on new digital revenue from transformation, which helps to improve the-top line revenue of the company. Let's begin with an example from the energy industry.

Electricity value chain

Let's look at the electricity value chain here. Utility companies use gas or coal generators to generate electricity. In order to meet the fluctuating demand from a hot summer day for cooling and from a cold winter day for heating, often utility companies have to engage in energy trading. Northern California encountered a serious electricity shortfall due to excess heat in August 2020, leading to significant rolling power outages. This is primarily driven by the fact that electricity cannot be stored at large scale by utility companies. Due to the variations in energy supply and demand on a daily and even hourly basis, energy prices fluctuate over a wide range. On average, the US residential customer pays about 13 cents per kilowatt hour (kWh). However...