The manufacturing industry is undergoing a major transformation thanks to the advances in IoT and data analytics. IoT refers to the network of physical devices, sensors, and software that can collect and exchange data over the internet. Data analytics refers to the process of analyzing large amounts of data to extract useful insights and patterns.
IoT and data analytics enable smart manufacturing, which is the use of intelligent systems and processes to optimize production and operations. Smart manufacturing can improve efficiency, quality, safety, sustainability, and profitability in the industry. Here are some of the benefits and challenges of smart manufacturing.