IIoT and Industry 4.0 initiatives have expanded at a staggering pace, attaching more sensors, connecting equipment, generating terabytes of data every day. And more than any other business segment, manufacturing creates the largest amount of data and therefore has the greatest opportunity to capitalize on the full value of their data. Organizations across every industry have long realized that the pace of change is quickening and have adapted through digital transformation, but the pandemic has acted as a digital accelerant like none seen before, especially for manufacturers.
Yet while the volume of available data has grown exponentially in recent years, most companies are capturing only a fraction of the potential value in terms of revenue and profit gains. The challenge for manufacturers is to harness this data and not let it go up the smoke stack as digital exhaust.