The potential economic value of the Internet of Things in factories and plants has been estimated to range from $1 trillion to $3 trillion by 2025. This value prediction is based on improvements that can be made using IoT technologies in production operations, machine performance, predictive maintenance, inventory optimization, and supply chain operations.
But manufacturing organizations face many challenges in getting to the promised land of IoT-based factory operations optimization. Challenges in data transmission and storage, collecting data in a format that can be used for analysis, the actual analysis of data, and issues around security, data privacy, and data ownership all have to be understood and dealt with effectively to achieve projected benefits.

This ML Council “Critical Issues” call will address these and other issues to help manufacturers plan, develop, and implement their IoT strategies in their plants and factories.