You’ve probably heard, said or read the term “Industrial Internet of Things (IIoT)” several times this week alone – it’s become a widely-used buzz phrase, capturing the attention of the media and businesses across all industrial markets due to the transformative impact it’s starting to have on the global economy. The ability to use the manufacturing data enabled by the IIoT is what puts the “smart” in smart factory. Researchers say the move to smart factories could add $500 billion to $1.5 trillion in economic value in just five years.