Big data is the fourth industrial revolution

Britain's manufacturing sector has just posted its strongest growth in over two years. Latest figures show that export orders have increased at their fastest rate since January 2014 and factories have also taken on more workers, with employment rising for the second consecutive month. However, the export benefits of a weakened pound will not last forever, and so, as the manufacturing sector continues to evolve, this year's FT Future of Manufacturing Summit looked at how big data analytics, advanced robotics, the Internet of Things (IoT) and additive manufacturing are shaping the economics of production and distribution within the sector. With the opportunities big data brings referred to as the Fourth Industrial Revolution in manufacturing, the estimated £57bn boost to the industry over the next five years will be driven by gains in efficiency through the use of big data analytics. The winners will be those who can adapt, embrace technologies and respond to new demands.