Industry 4.0: Opportunities for Analytics

Industry 4.0 is the digital transformation of industrial markets. The information-intensive transformation demands a connected environment. Apart from people, processes, services and systems, important key contributors are- IoT-enabled industrial assets and data. All these contributors currently operate in silos in a closed environment. The fourth industrial design thinking talks about developing a digital thread to generate actionable information and ecosystems of industrial innovation and collaboration. This paper explains the areas where humongous significant industrial data is generated and variety of meaningful insights that can be extracted. While explaining stepwise evolution of Industry 4.0 different types of Big Data Analytics tools and benefits of Analytics are also discussed.