ABSTRACT. Employing recent research results covering the relationship between product decision-making information systems, data-driven innovation, and smart industrial value creation, and building my argument by drawing on data collected from British Science Week, Business Insider, Deloitte, PwC, Statista, and YouGov, I performed analyses and made estimates regarding the main areas of interest for manufacturers within Industry 4.0 (%), how Industry 4.0 is delivering revenue, cost and efficiency gains (%), U.S. adults who feel the following ways about artificial intelligence (%), and Industry 4.0 value creation (%). Structural equation modeling was used to analyze the collected data.
JEL codes: E24; J21; J54; J64

Keywords: Industry 4.0; data-driven innovation; smart industrial value creation

How to cite: Lafferty, Clive (2019). “Sustainable Industry 4.0: Product Decision-Making Information Systems, Data-driven Innovation, and Smart Industrial Value Creation,” Journal of Self-Governance and Management Economics 7(2): 19–24. doi:10.22381/JSME7220193

Received 14 December 2018 • Received in revised form 19 May 2019
Accepted 20 May 2019 • Available online 1 June 2019