There has been sustained excitement about IOT and the data capabilities it will bring to industry. In 2013, McKinsey&Company had predicted that IOT would bring $3-6T economic impact in 2025.
With margins getting smaller and competition getting more intense, manufacturing companies are getting smarter about how they can become more productive in order to become more profitable. Manufacturing analytics is one of the most effective ways to do so.
Sometimes called the 4th industrial revolution, manufacturing analytics analyze the historical performance data of machines in order to forecast their future; and their failure. And with technology and the environment to support it evolving rapidly, there has never been a better time to get started.