Time for Manufacturers to Buckle Up for the Fourth Industrial Revolution

1. Time for Manufacturers to Buckle Up for the Fourth Industrial Revolution ============================================================== The 4th Industrial Revolutionhas been underway for quite some time now, and as it is rightly termed a revolution, the impact it has been making has been nothing short of revolutionary in its own right. But there is a lot of discrepancy in terms of what the term is and what has been happening from it. We will be shedding some light on all of this and what it all holds for the future in the time to come. Here’s a look at some of the points we will be discussing: •Industrial Revolution timeline •What is the 4IR? •Technologies governing the 4th Industrial Revolution •Visual CPQ and 4IR Industrial Revolution Timeline While there’s no denying the fact that the 4th Industrial Revolution will be the most impactful of them all, it’s important to understand the situations which led to this particular revolution in the first place: •The First Industrial Revolution began in the year 1760 and was consistent for the next 75 years. It was a time when steam and water powers were starting to be leveraged for fulfilling the goals of multiple industries. •The Second Industrial Revolution happened between the late 1800s and early 1900s, majorly driven by industrial combustion equipment as well as electricity. Also referred to as the Technological Revolution, this one led to the advancement of the manufacturing industry as a whole. •The Third Industrial Revolution began in the latter half of the 20th century and continues to this day. This one brought about a shift from analog technology to digital technology. What is the 4IR? The 4th Industrial Revolution is now underway. The right way to describe this revolution is that it builds on these three revolutions and automates the entire manufacturing industry with ‘smarter’ technology. It can be rightly said that the 4IR has been very quick in its approach and governance, thanks to technologies like Artificial Intelligence, Cloud Computing, and more, which we will discuss later on. The 4th Industrial Revolution has a lot of potential for automating various manual processes, where smart homes and self-operational factories are now becoming the new norm. Manually, these processes are pretty tiring in their own right, but the 4IR changes it all. Technologies Governing the 4th Industrial Revolution There are a lot of technologies paving the way forward in the 4th Industrial Revolution. Here’s a look at a few of these technologies: Artificial Intelligence and Machine Learning

2. In simple words, Artificial Intelligence is a technology that allows advanced machines to make decisions based on human-like observations. On the other side, as far as Machine Learning is concerned, it refers to the technology that makes computer systems learn on their own from their experience under different circumstances. Big Data and Analytics The 4IR is strongly reliant on data, and loads of data. With analytics mechanisms in place, all of this data can be mined in the right direction and also digitized for further utilization. Internet of Things(IoT) IoT can safely be said to be among the most crucial 4IR technologies. It connects multiple devices and facilitates the sharing of information among each other. Collective functioning becomes easier and more sorted with the help of IoT. Visual CPQ and the 4IR The relationship between visual CPQ as well as 4IR is a pretty interesting one, where the former drives and is also driven by the latter. What is Visual CPQ? Visual CPQ is an abbreviation for configure, price, quote, referring to the process of automating customized and complex sales processes. The most sophisticated CPQ tools like Epicor CPQ deliver an immersive front-end as well as an expressive backend which in turn, becomes a single source of truth for multiple teams in a single manufacturing setup. Before being finally selected, the product is available for customer view in a lifelike 3D format, allowing users to choose their products with more assurance and freedom. When it is something like Epicor CPQ, there are two ways in which it all goes- the customer engagement reaches an all-time high, while dynamic real-time pricing is another factor that becomes more sorted than ever before. In the End The 4th Industrial Revolution has a good amount of way to go ahead, and this is something that should not be forgotten at any cost. Combining it with something as potent as Epicor CPQ can only bring good news across in the long run. Simple as that.