The industrial world is on the verge of entering the next revolution: Industry 4.0. This is going to change control systems architecture, systems connectivity and sensors as we know it today.
A lot of the data from devices will be analysed on the internet and hence the Internet of Things (IoT) will be a big part of Industry 4.0. The field which relates to industrial data to the internet is further referred to as Industrial Internet of Things (IIoT).
The other major aspect of Industry 4.0 is how businesses utilise the data collected and analysed from their systems. This will provide information on important aspects of machine condition, for example premature machine failure. This field is referred to as the machine analytics and forms the basis of the technology that is predictive analytics.
This paper discusses Industry 4.0, the Industrial Internet of Things and predictive analytics in detail with recommendations on how businesses can improve their operations by adopting future forward smart solutions.