Industry 4.0 and Its Digital Paradigms

Carlo Bagnoli (), Andrea Albarelli (), Stefano Biazzo (), Gianluca Biotto (), Giuseppe Roberto Marseglia (), Maurizio Massaro (), Matilde Messina (), Antonella Muraro () and Luca Troiano ()
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Carlo Bagnoli: Ca’ Foscari University of Venice, Department of Management
Andrea Albarelli: Ca’ Foscari University of Venice, Department of Environmental Sciences, Informatics and Statistics
Stefano Biazzo: University of Padua, Department of Management and Engineering
Gianluca Biotto: Strategy Innovation S.r.l.
Giuseppe Roberto Marseglia: University of Pavia
Maurizio Massaro: Department of Management, Ca’ Foscari University of Venice
Matilde Messina: Strategy Innovation S.r.l.
Antonella Muraro: Avanade Italy S.r.l.
Luca Troiano: Zeb Consulting S.r.l.

Chapter 2 in Digital Business Models for Industry 4.0, 2022, pp 49-117 from Springer

Abstract: Abstract The current technological innovation has contributed to the emergence of multiple digital advances which can support and accelerate the achievement of organizational strategic goals. The digital paradigms characterizing the Fourth Industrial Revolution range from digital manufacturing, involving the application of digital technologies, to manufacturing processes for the purpose of developing smart products and to the application of big data techniques in order to manage large volumes of data and support companies in formulating data-informed decisions. The widespread diffusion of technologies related to Industry 4.0 enables companies to obtain significant advantages. The benefits associated with the introduction and implementation of the aforementioned technological advancements relate to companies operating in multiple industries and include considerable cost reductions, therefore enabling businesses to save time and eliminate sources of waste; enhanced productivity, as a result of efficient resource allocation as well as the predictable and effective management of production processes; and personalized consumer experiences through the development of determined products and services tailored to specific customer needs. The present chapter illustrates the numerous digital technologies characterizing the Fourth Industrial Revolution. A few tables have been developed for the purpose of highlighting the impact of each of the digital-enabling technologies mentioned onto the building blocks constituting the business model canvas. In particular, the operational benefits are listed for each of the above-mentioned digital paradigms in order to describe the effects of such technologies onto the business processes.

Date: 2022
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DOI: 10.1007/978-3-030-97284-4_2

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