Why You Need A Data Strategy To Succeed In Industry 4.0 Since the beginning of the industrial age, the manufacturing sector has experienced a number of dramatic turning points, where the introduction of a new invention has radically changed manufacturing processes and output. Today,the manufacturing and high tech sector finds itself at one of these significant turning points - Industry 4.0 . And, if you’re wondering what went before - Industry 1.0 is associated with the beginning of manufacturing where mechanical production systems were powered by steam and water. The next revolution in manufacturing came when the invention of electricity powered specialisation during the production process. Then came the use of electronics and IT to drive new levels of automation in Industry 3.0. And that’s how we arrive at Industry 4.0, an era where sensor technology and the interconnectivity of machines - the Internet of Things – is driving the industry forward. This is an evolut
Industry 4.0: Why it belongs on the CEO agenda Industry 4.0, or the fourth industrial revolution , is no longer a vision of some far-off future. It’s already happening – and will pick up pace tremendously over the next few years. The main drivers of this trend are changes in customer expectations as well as the broad implementation of new technologies, such as the Internet of Things , sensors, connected devices, 3D printing, or cloud solutions. Value chains of industrial companies all over the globe are becoming increasingly digitized and connected, as are their products and services. At the same time, digital business models are challenging conventional approaches – often causing disruptive change. Digital business models: an example from the manufacturing industry In a traditional business model, the manufacturer’s machines are self-contained. Software is used to automate individual machines, but the machines themselves are not connected. In a digital business mod