Abstract
The objective of this paper is to go a step further introducing the concept of Industry 4.0 (I4.0) using Axiomatic Design as a research methodology. The rationale for this work is to increase the performance of SMEs allowing a better utilization of resources, using tools coming to the foreground of industry enabled by the Fourth Industrial Revolution (also known as Industry 4.0). This would improve the competitive position of SMEs on the global market. The state-of-the-art shows that only few companies andespecially few small and medium sized enterprises (SMEs) are using data analytics to take advantage of new technological achievements to compete with one another. The method used in this paper for deriving aconceptual framework how SMEs can exploit the advantages of smart data analytics in manufacturing is axiomatic design, using inputs collected from a field study at SMEs. The results show that SMEs are challenged in implementing advanced data analytics instruments and need to define strategies for collecting, analysing and interpreting data for improving their performance and provide framework which should help SMEs to implement data analytics on the shop floor.