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© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.

Abstract

Time series prediction stands at the forefront of the fourth industrial revolution (Industry 4.0), offering a crucial analytical tool for the vast data streams generated by modern industrial processes. This literature review systematically consolidates existing research on the predictive analysis of time series within the framework of Industry 4.0, illustrating its critical role in enhancing operational foresight and strategic planning. Tracing the evolution from the first to the fourth industrial revolution, the paper delineates how each phase has incrementally set the stage for today’s data-centric manufacturing paradigms. It critically examines how emergent technologies such as the Internet of things (IoT), artificial intelligence (AI), cloud computing, and big data analytics converge in the context of Industry 4.0 to transform time series data into actionable insights. Specifically, the review explores applications in predictive maintenance, production optimization, sales forecasting, and anomaly detection, underscoring the transformative impact of accurate time series forecasting on industrial operations. The paper culminates in a call to action for the strategic dissemination and management of these technologies, proposing a pathway for leveraging time series prediction to drive societal and economic advancement. Serving as a foundational compendium, this article aims to inform and guide ongoing research and practice at the intersection of time series prediction and Industry 4.0.

Details

Title
Time Series Prediction in Industry 4.0: A Comprehensive Review and Prospects for Future Advancements
Author
Kashpruk, Nataliia; Piskor-Ignatowicz, Cezary; Baranowski, Jerzy  VIAFID ORCID Logo 
First page
12374
Publication year
2023
Publication date
2023
Publisher
MDPI AG
e-ISSN
20763417
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
2892976939
Copyright
© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.