Digital transformation driving industry 4.0 is as real as it can get in this modern day. Thus, there is no reason for companies to delay jumping on this train of transformation. Why?
Digital Transformation Driving Industry 4.0
Industry 4.0 emerged thanks to the rise of digitalization and the Internet of Things (IoT). Industry 4.0 refers to the fourth industrial revolution that uses data and analytics to optimize industrial processes and provide better customer experiences. Digital transformation is making it possible for businesses in different industries to stay ahead of their competition by leveraging the benefits of Industry 4.0.
Further, industry 4.0 aims at smart manufacturing, smart services, and smart products. To do that, industries need to:
Know the factors affecting employee performance
- create a connected network of machines,
- use big data analytics to make decisions on the spot,
- and use cloud technology to integrate everything into one cohesive unit
With the help of this approach, the industry can respond rapidly to unexpected changes. Also, they can increase responsiveness and agility when responding to change. And then, increase productivity owing to better planning and more accurate control.
So, thanks to digital transformation, companies are now able to reach a level of flexibility and agility that they could not achieve before. Then, thanks to Industry 4.0, companies can also boost efficiency and reduce costs by optimizing supply chains.
Also, they can optimize their services by using data and analytics to deliver a better customer experience faster than their competitors can.
The transformation makes it possible to optimize product development by using data to improve the design and reduce prototyping costs. Also, it drives companies to increase efficiency. This is by collecting data on the usage of products to improve future designs and develop new ones that are more fit for purpose.
Digital Transformation Driving Industry 4.0: How?
How did digital transformation drive industry 4.0? It first happened when companies began adopting the Internet of Things. The IoT makes it possible to collect data and use it to improve performance. This is because business processes can be monitored in real-time and decisions can be made on the spot, thanks to the Internet of Things. Thus, companies that use IoT technology can respond more rapidly to unexpected changes in their business environment.
Further, many applications have been developed. For example, GE has developed an operating system for operating industrial machines and controlling the production lines. This has helped improve its efficiency by 60%.
Then, another example is the company KONE which has developed a maintenance plan for its elevators based on data collected from sensors installed in the elevators. This allowed them to increase the time between maintenance checkups from 10,000 hours to 20,000 hours without reducing performance or reliability.
The Bottom Line
As you can see, we can now make use of data to make decisions on the spot and create a connected network of machines. Thus, companies can now respond rapidly to unexpected changes. Also, they can increase responsiveness and agility when responding to change. And then, increase productivity owing to better planning and more accurate control.