Though manufacturers have been collecting information from across the manufacturing floor for decades, the cost of implementing smart sensors has gone down significantly in recent years. Meanwhile, analytics capabilities have grown extensively. As a result, today we have the technology to go beyond data capture to extrapolate near real-time insights to inform and optimize processes for better outcomes. This is the nirvana of the smart factory.
But what can manufacturers gain from getting more in tune with machines? The answer: Plenty.