The lifeblood of any manufacturing organization is its supply chain. Thanks to better product forecasting, manufacturers are able to more accurately match production and product availability to current demand resulting in fewer lost sales.
- Machine learning revolves around enabling machines to autonomously extract insights from gathered data to make real-time decisions. To achieve this, algorithms created to recognize patterns are applied to large datasets acquired by sensor devices.
- By 2020, Discrete Manufacturers alone will spend $40B investing into IoT. (Source: Forbes)