Everyone knows that today a ton of data captured on the manufacturing floor goes unused due to the lack of a data scientist on staff or other resources to comb through all the information.
However, manufacturers are set to be one of the largest spenders on IoT. IDC predicts that this year, discrete manufacturing will spend $119 billion and process manufacturing will spend $78 billion. With all of this spend on the latest and greatest technologies, what exactly are manufacturers investing in and why, as they chart course toward building the factory of the future?New Zealand-based Sistema Plastics, which designs and manufactures reusable, multi-purpose, quality plasticware, set an explicit strategy with clearly defined goals for its tech and IoT investments. The global company sought to maximize its production output and quality in the most cost-effective way possible.
Sistema took this threefold approach to addressing this goal:
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