It isn’t easy, is it? But don’t worry: by reading this post, you’ve taken the first step in making sure your business can operate intelligently. You’ve actively sought the newest information and trends about the most important topics in your industry. So let’s get started…
Four Industry Technical Terms and What They All Mean
Cognitive Computing, Industry 4.0, Predictive Maintenance, Data Conditioning… these are some of the most common terms used in tech today. Let’s explore their meanings so you can make educated decisions about using them as they relate to your business interests.
What is Cognitive Computing?
Have you ever heard of artificial intelligence (AI)? Cognitive computing is directly related to AI in that it simulates human thought processes using a computerized pattern-identifying model. In other words, cognitive computing uses machine learning algorithms to recognize and process compounded data over time. This provides the user with results based on what the learned data determines to be the most likely intended request. It mimics how the human brain works, and often performs tasks faster and more accurately than the human brain can.
What does this mean for you? Well, going forward, cognitive computing could be applied to other areas of your business as well. For example: consumer behavior analysis, personal shopping bots, customer service bots, travel agents, educational tutors, security, and various diagnostics. Really, this is the next natural step as we already have digital personal assistants on our mobile devices and computers.
What is Industry 4.0?
This term refers to the transformation in the way we currently produce products due to the digitization of manufacturing. The number four represents the fourth transition that has occurred in manufacturing over time. The first was the industrial revolution, which used water and steam as its main mechanism. The second was assembly lines and mass production, which used electricity. The third utilized computers and automation. The fourth, also known as Industry 4.0, is an expansion of the third revolution. It refers to enhancing computers and automation with smart, self-thinking systems that use data and machine learning.
What is Predictive Maintenance?
The purpose of predictive maintenance is predicting when a piece of equipment might fail and preventing it from failing. It is done by proactively replacing it or performing the necessary maintenance to it. This helps avoid unplanned reactive maintenance, while saving money on the cost of performing too much preventive maintenance. The way predictive maintenance works is by using condition-monitoring equipment to assess any given asset’s performance in real-time. The main component in making this process work is the Internet of Things (IoT). The IoT process enables different assets and networks to communicate and collaborate to share, analyze data, and other similar actions. Importantly, these systems depend on predictive maintenance sensors to gather and analyze information to find areas of concern. This allows proactive performance of the recommended maintenance before the equipment actually encounters a problem.
What is Data Conditioning?
Data conditioning, also referred to as data cleaning or data cleansing, is the detection and removal of errors of corrupt or inaccurate information on a database. Once identified, the errant or erroneous data is modified, replaced or deleted. Failure to perform proper data conditioningcan lead to any number of problems, including the compilation of false data results. However, data conditioning itself doesn’t come without problems. Improper data conditioning can sometimes result in losing vital information or other important data. Fortunately, there are plenty of tools that can be used for data conditioning. Some statistical programs have the data validation built in – actually catching some pre-conceived data errors, such as non-valid variable codes, automatically as they are entered.
The Bottom Line
Time marches on, and so does the evolution of technology. It looks like artificial intelligence, machine learning, and the way we used to do business is going to continue changing. That means staying current with the ever-changing trends is no longer optional…it’s mandatory – if you want your business to succeed and grow.
What’s Next?
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