Industry 4.0 white paper: Putting the vision into practice
Industry 4.0, or the Industrial Internet, is more than just a vision of the future. Using current technologies to connect physical objects to the virtual world is already yielding new business models. Machine and component manufacturers can consequently drive forward their service business and secure their competitive edge.
One potential first step is to expand and optimize services. By equipping machines and components with Industry 4.0 features and interconnecting them, companies can lay the foundation for collecting whatever field data they wish and aggregating it in a central location. Near real-time processing of this data enables rapid detection of faults and deviations, facilitating immediate corrective actions. In addition, the accumulated data serves as a basis for new services; by applying data analytics, new insights can be acquired and subsequently transformed into new services. Predictive maintenance perfectly exemplifies the principles and benefits of Industry 4.0.