Building Value in a World of Technological Change: Data Analytics and Industry 4.0

Anumber of macro and technological trends are now facing the industries. Big data and analytics to evaluate data is one of those trends. Industry 4.0 is another. In this article, I provide some general lessons and insights we have learned over a number of years of real projects experience. There has been an exponential increase in the number of data sources, both archival and in real time. Additionally, there has been improvement in data networks and infrastructure that has furthered this immense data accumulation. Data is not equal to value. To create value with data needs analytics. Analytics facilitates data reduction to actionable items thus creates value.