If you talk to anyone in manufacturing today about the future of the industry, you’re likely to hear a quizzical, “Do you mean Industry 4.0?”

Industry 4.0 got its name from the Fourth Industrial Revolution, which brings together the automation from previous industrial revolutions with digital data from rapidly emerging technologies like sensors and advanced analytic techniques into what is being called “cyber-physical systems.” This evolution is causing the digital transformation of modern business in products, manufacturing, and supply chains. Today, companies are about to gain access to more data which in turn will help them make more informed strategic decisions about their businesses.