The broad context of this literature review is the connected manufacturing enterprise, characterized by a data environment such that the size, structure and variety of information strain the capability of traditional software and database tools to effectively capture, store, manage and analyze it. This paper surveys and discusses representative examples of existing research into approaches for feature set reduction in the big data environment, focusing on three contexts: general industrial applications; specific industrial applications such as fault detection or fault prediction; and data reduction. The conclusion from this review is that there is room for research into frameworks or approaches to feature filtration and prioritization, specifically with respect to providing quantitative or qualitative information about the individual features in the dataset that can be used to rank features against each other. A byproduct of this gap is a tendency for analysts not to holistically generalize results beyond the specific problem of interest, and, related, for manufacturers to possess only limited knowledge of the relative value of smart manufacturing data collected.