The Transformation and Upgrading Path and Performance Evaluation of Manufacturing Industry Empowered by Internet of Things Technology

In the context of the transformation and upgrading of the manufacturing industry, the Internet of Things (IoT) technology, as a key driving force, has become a focus of industry attention in terms of its application effectiveness and value evaluation. This paper uses the construction of an algorithmic model-based performance evaluation system for manufacturing transformation and upgrading to scientifically quantify the practical application effectiveness of IoT technology in the manufacturing industry, in order to provide a strong basis for policy formulation and enterprise decision-making. To achieve this goal, a performance evaluation system was designed that includes multiple dimensions, such as production efficiency, product quality, and innovation capability, and a performance evaluation algorithm model was constructed using the Recurrent Neural Network (RNN) algorithm. The results indicate that IoT technology significantly improves the production efficiency and product quality of manufacturing enterprises. The average production efficiency has increased by about 20%, the product defect rate has decreased by nearly 15%, the success rate of innovative projects has increased by 1.5 times, and there have been significant improvements in resource utilization efficiency and environmental sustainability indicators. This study is expected to provide strong theoretical support and practical guidance for the transformation and upgrading of the manufacturing industry, and promote the widespread application and development of IoT technology in the manufacturing industry.