The Internet of Things (IoT) promises to revolutionize the manufacturing sector by making factories smart. New terms like digital twin and predictive analytics are being used to demonstrate how IoT will help you reduce costs, improve productivity and customer satisfaction. In some cases, IoT could even change the way you sell and support your customers.
But there are two key questions owners and executives of small to mid-size manufactures need to have answered. First, they need concrete examples, or use cases, that demonstrates how and where IoT can impact their business. No hype! Real examples of where IoT makes sense. Second, how much will it cost my business financially and what other factors do I need to consider?