How can we make manufacturing, production and delivery systems better for consumers buying goods and easier for the companies making them? We’ve come a long way to improve the systems we use across a wide variety of industries around the world. From the clunky machinery of the assembly line to the always-on gadgets of 
today, business leaders and technology experts are always looking for ways to simplify and automate processes and gather more data to keep advancing.
But where are we headed, now that we’re using big data to boost output and bring in more sales? Where will our dreams of smarter smart devices take us? Right now, we’re said to be living in Industry 4.0, a time in which automation and data exchange share the driver’s seat, steering one new industrial age into the next. This means businesses are practicing continuous improvement by developing digitized business models, growing a digital workforce, driving new efficiencies through data and planning for the future. To keep up with these smart businesses, what key terms should you be aware of? And what does all of this mean for your success?
What is Industry 4.0?
Industry 4.0 or the Industrial 4.0 is the fourth industrial revolution, a name for the “digitization of the complete value chain” or the use of IoT to automate and improve manufacturing value chains.1 It speaks to the way we now use technology to better create, control and consume goods. Many manufacturing sector businesses are embracing Industry 4.0 applications to modernize their activity by automating production.
What is Industrial IoT?
Industrial IoT, sometimes written as iIoT, is an IoT trend affecting industrial businesses specifically, from water, oil and gas to transportation, mining and healthcare. Any business that uses industrial equipment and integrates workflows using IoT is enveloped in this trend. Industrial IoT is the use of data management, communication tools, the cloud and other tech security to fuel continuous improvement and connectivity. The Industry 4.0 movement will impact iIoT by making this tech more available to industry players, using tools like smart sensors and systems to augment workflows and produce real-time data, cost savings and quality improvements.2
Planning for Digital Disruption
Industrial companies must address digital disruption to not only stay relevant and push past competitors but to satisfy new consumers and deliver safer, more effective and more profitable products and services.2 Here are some ways companies are planning for this form of digital disruption now:
- Using IoT to improve the customer journey and customer experience with smart touchpoints
- Using IoT to shift from reactive efforts to proactive efforts for improved problem-solving
- Using IoT to gather data and gain real-time access to info for better decision-making
- Using IoT to trade piecemeal solutions with tech-enabled all-in-one solutions
- Using IoT to develop new differentiators and revenue streams for long-term investment
- Using IoT to attract and train mobile-first digital workforces and boost collaboration
And here’s why keeping up with iIoT and the Industrial 4.0 should be on your to-do list as a business leader:
- It could lead to significant profits and growth for many business
- It may help certain companies meet new regulations and requirements
- It will enable businesses to integrate key systems and equipment with workflows
- It has already proven to boost profits, safety and efficiencies
Industrial Wire & Cables
OmniCable offers a selection of industrial wire and cables for companies embracing the internet of things, including:
Sources:
1. Industrial IoT vs. Industry 4.0 vs. … Industry 5.0?, Medium
2. A Deep Dive Inside Industrial IoT, ReadWrite