Praduman K. Tickoo, Vice President of Digital Manufacturing Services and Solutions at L&T Technology Services, will address how digital technologies are transforming the aerospace sector at the American Aerospace & Defense Summit 2018. Prior to the summit, we spoke with Praduman to discuss how aerospace companies can leverage technology and digitization to maximize their ROI and stay competitive in an ever-changing landscape.
This is an excerpt from an interview Generis Group did with Praduman K. Tickoo prior to the American Aerospace & Defense Summit 2018.
“How can aerospace companies use digitization to stay competitive in an ever-changing landscape?
In the aviation sector today, an effective digital strategy is critical for long-term success. The role of digital technology has changed from being a source of marginal efficiency gains to becoming the foundation for transformation. Increasingly, companies are recognizing the need to innovate – both to stay ahead of legacy competitors and to pre-empt the disruption of established business models by ambitious and nimble digital natives.
Redesigning customer interaction: Digitization is transforming the expectations of consumers across the globe. Its pace and scale mean companies need to re-evaluate and transform the customer experience to adapt, using new products, apps, and tools to enhance customer interactions.
Business systems and processes: Businesses are re-designing their internal processes, transforming their back-end systems and refreshing their supplier contracting structures to integrate and streamline operations. In addition to creating operating efficiency gains, such changes typically play a crucial role in the achievement of a company’s strategic aims, which increasingly include maintaining business agility for quick adaptation to changes in the marketplace and generating new revenue streams.
Nurturing innovation: Many businesses in the aviation sector are investing in specialized departments or group companies or engaging in partnering arrangements, in order to ensure that they stay ahead of the curve and are well placed to anticipate upcoming changes. This can range from creating new innovation “labs” and “hubs” which bring together different parts of a business, to partnering with innovative companies and consultants.
Big data and advanced analytics: With the emergence of increasingly sophisticated technology, the ability to capture – and extract value from – ever-increasing amounts of data is rising. ‘Big Data’ can help companies understand customer preferences and buying behavior to transform relationships. However, as the volume and variety of data increases, so do the challenges associated with the use of Big Data. For many organizations, navigating the complex landscape of data protection, privacy and cybersecurity laws will be key to unlocking the full power of Big Data, advanced analytics and machine learning.”
Questions discussed:
- How can aerospace companies use digitization to stay competitive in an ever-changing landscape?
- How can aerospace manufacturers leverage digital technology to maximize ROI?
- How can data enable real-time decision making?
- How can L&T’s solutions aid aerospace companies to achieve this?
Click through to access the full e-book here.
