The Industrial Internet of things (IIoT) or fourth industrial revolution or Industry 4.0 are the names given to the use of IoT technology in a business environment. The concept is the same as consumer IoT devices in the home, but in this case the goal is to use a combination of sensors, wireless networks, big data, artificial intelligence and analytics to measure and optimize industrial processes.
If introduced across the entire supply chain rather than just individual companies, the impact could be even greater with just-in-time delivery of materials and complete production management. Improving workforce productivity or increasing cost savings are two potential goals, but IIoT can also create new revenue streams for businesses; manufacturers can also sell predictive maintenance of the engine, rather than just selling a standalone product, such as an engine.
