ABSTRACT
This chapter examines how predictive analytics is improving manufacturing, how to use predictive analytics in manufacturing, and the four benefits of predictive analytics in manufacturing. Increasingly, artificial intelligence (AI) predictive analytics is transforming the way the manufacturing industry operates. Its impact is being felt not just by the employees who work on factory floors but also by the executives in the organization’s C-suites. AI predictive analytics is ushering in a new era of smart manufacturing, thanks to the junction of an array of digital technologies such as low-cost sensors, advanced robotics, high-speed networks, real-time analytics, and embedded systems. Predictive manufacturing systems allow users transparency in operations. The basis of a predictive manufacturing system is the smart software, which is used to control predictive modeling functionalities. Predictive analytics will be further involved in everyday manufacturing operations, making workplace more efficient and safer due to the digitalization of assets, known as digital manufacturing, which allow for digital design and even distributed manufacturing.
