// ROBOTICS AND SMART FACTORIES TERM
Real-Time Analytics
Analyzing data as it's collected to make immediate decisions or adjustments, rather than waiting for data to accumulate.
TECHNICAL DEFINITION
Real-Time Analytics involves the immediate processing and analysis of streaming data from industrial IoT sensors, manufacturing execution systems (MES), and enterprise resource planning (ERP) to enable instantaneous insights and proactive decision-making in smart factories.
BACKGROUND
The Fourth Industrial Revolution, also known as 4IR, Industry 4.0 or the Intelligence Age, is a neologism describing rapid technological advancement in the 21st century. It follows the Third Industrial Revolution. The term was popularized in 2016 by Klaus Schwab, the World Economic Forum founder and former executive chairman, who asserts that these developments represent a significant shift in industrial capitalism.
READ MORE ON WIKIPEDIASYNONYMS & ALIASES
- Live analytics
- Instant data analysis
- On-the-fly analysis
- Streaming analytics
USAGE NOTE
Used to monitor production lines and identify anomalies or opportunities for optimization instantly.
DEVELOPERS
Organizations developing technology related to Real-Time Analytics.
Develops MindSphere, a cloud-based, open IoT operating system that connects industrial machines and systems to enable real-time data analytics for performance optimization and predictive maintenance in manufacturing.
Offers the ThingWorx Industrial IoT platform, which allows manufacturers to connect, monitor, and analyze real-time data from factory floor assets to improve operational efficiency and product quality.
Provides the FactoryTalk software suite, which includes analytics platforms that process real-time production data to deliver insights on performance, quality, and machine health directly to operators and managers.
Develops the Predix platform, an Industrial IoT solution designed for collecting and analyzing high-volume industrial data in real-time to optimize manufacturing operations and asset performance management.
Provides the PI System, a leading data management infrastructure for collecting, storing, and visualizing vast amounts of high-fidelity, time-series data from industrial operations for real-time analytics and decision-making.
Offers advanced analytics solutions, including SAS Analytics for IoT, which applies AI and machine learning to real-time streaming data from manufacturing sensors for predictive quality, asset reliability, and process optimization.
Develops a range of Industry 4.0 solutions, including the Nexeed Industrial Application System, which collects and analyzes production and machine data in real-time to improve transparency and efficiency on the shop floor.
Creates advanced analytics software specifically for process manufacturing data. It enables engineers and data scientists to rapidly investigate time-series data from plant historians to find insights and optimize production in real-time.