Industry 4.0 and IoT
Business models must be realigned to defend, extend and revolutionize the business
Business models must be realigned to defend, extend and revolutionize the business
The industrial internet will substantially change the manufacturing industry in the coming years. "Industry 4.0" and the "Internet of Things" are strongly interdependent and driven by new digital business models that are based on using digital data across the whole product life cycle.
In the age of digitalization, business processes and the IT landscape must be prepared for new requirements. An integrated and holistic approach is necessary for a manufacturer to unlock what Industry 4.0 and the Internet of Things offer.
By combining the most important elements of the industrial internet, new opportunities for companies are emerging:
Intelligent machines connect machines, facilities and production networks through advanced sensors, controls and related software applications.
Advanced analytics combines the power of physics-based analytics, predictive algorithms, automation and decision support on a strategic level.
Smart Factory Model