The document discusses the benefits of using SEMI's Equipment Data Acquisition (EDA) standards for smart manufacturing applications. It describes how EDA standards can help factories collect the right equipment data to develop multivariate fault detection models, which use real-time sensor data to detect process drift and tool failures. The metadata models in EDA Freeze II and EDA Common Metadata standards provide context to select the proper fault detection algorithms and allow data collection plans to be changed flexibly as fault models evolve.