CIO OPINION
The Fourth Industrial Revolution uses computers and sensors to create valuable production data to increase efficiency and , consequently , industry profitability .
Rodney Repullo , CEO , Magic Software
ROI Check-in : What can we improve using Industry 4.0 ?
Rodney Repullo , CEO of Magic Software , explains the best strategies to implement Industry 4.0 in progressive companies .
Return on Investment ( ROI ) is a critical topic for small and medium-sized industries interested in investing in operational improvements and moving forward with their Digital Transformation . Regardless of how much a team plans to invest in Digital Transformation , this investment will positively impact the company ’ s income . Recently , investments in digitalization on shop floors have focused on a topic that will remain on the innovation agenda : Industry 4.0 .
The Fourth Industrial Revolution uses computers and sensors to create valuable production data to increase efficiency and , consequently , industry profitability .
The ROI of Industry 4.0 may seem less tangible for manufacturing , as improvements depend on better use of data . Modern technologies for data collection can be turned into actionable intelligence rather than simply adding a new piece of automation . However , if the data is not measured accurately , there is no way to improve it .
When considering the potential ROI of implementing Industry 4.0 , there are a few key areas to focus attention on .
Access key performance indicators ( KPIs )
These are the four areas where midsize manufacturers will see a Return on Investment from implementing Industry 4.0 :
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