Industry 4.0

Big data monetization - literally, data monetization, that is the process of strategic analysis and practical implementation that allows you to use data as a source of revenue, is one of the most rewarding objectives for any company that wishes to undertake a virtuous data-driven business path. However, its achievement can be hindered not only by a misinterpretation of the data already available but, above all, by a lack of correct investments in emerging technologies.

Why should a manufacturing company today, as well as any other organization, embark on a data-driven transformation journey? In 2020, research conducted by Statista measured a 12% increase, compared to 2018, in the adoption of a global data-driven approach for decision-making. Here's what is driving this change.

In this paper we propose a retrofitting methodology based on Design Thinking in a steel mill plant, and highlight how the retrofitting activity is important to allow even more companies to migrate to Industry 4.0, reducing the gap between SMEs and Large Industries for participation in the 4th Industrial Revolution.