Industry 4.0: Business Opportunities for Manufacturing Companies

Industry 4.0 is the latest catchphrase among technology enthusiasts. Everyone envisages how their companies can make giant strides using emerging technologies and data. But in reality, not everybody is equipped to take on the attendant risks: modernization demands considerable investments and the dividends may take several years to arrive. At the same time, data-driven manufacturing opens up new business partnerships and profit-making opportunities. In this article, we’ll examine three scenarios where manufacturers monetize data, discover new revenue sources through data-driven services, and reduce investment risks.