One potential first step is to expand and optimize services that already exist. By equipping machines and components with Industry 4.0 features and connecting 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, which means corrective action can be taken immediately. 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. The example of predictive maintenance offers a particularly potent illustration of the principles and benefits of the Industrial Internet.
Richard Soley, Executive Director of the Industrial Internet Consortium (IIC), calls it the “Nike effect.” Advocating the “just do it” approach, Richard encourages companies not to sit and wait for a game-changing technology to emerge or standards to be established; instead, to start implementing solutions and services for the Industrial Internet today.
Read about the Nike effect and Industry 4.0 in our ConnectedManufacturing blog.