Book excerpt: Industrial internet of things (IIoT) is changing the face of industry by completely redefining the way stakeholders, enterprises, and machines connect and interact with each other in the industrial digital ecosystem. Smart and connected factories, in which all the machinery transmits real-time data, enable industrial data analytics for improving operational efficiency, productivity, and industrial processes, thus creating new business opportunities, asset utilization, and connected services. IIoT leads factories to step out of legacy environments and arcane processes towards open digital industrial ecosystems. Innovations in the Industrial Internet of Things (IIoT) and Smart Factory is a pivotal reference source that discusses the development of models and algorithms for predictive control of industrial operations and focuses on optimization of industrial operational efficiency, rationalization, automation, and maintenance. While highlighting topics such as artificial intelligence, cyber security, and data collection, this book is ideally designed for engineers, manufacturers, industrialists, managers, IT consultants, practitioners, students, researchers, and industrial industry professionals.