The digitalization of modern manufacturing systems has resulted to increasing data generation, also known as Big Data. Although there are several technologies and techniques under the term Data Analytics for gathering such data, their interpretation to information, and ultimately to knowledge remains in its infancy. Consequently, albeit engineers currently can monitor the factory level, optimization is cut off of the data acquisition, and is based on data related methodologies. The focus should be pivoted on designing and developing suitable frameworks for integrating Big Data to process optimization based on the context of information gathered from the shopfloor. This paper aims to investigate the opportunities and the gaps as well as the challenges arising in the current industrial landscape, towards the efficient utilization of Big Data, for process optimization based on the integration of semantics. To that end, a literature review is performed, and a data-based framework is presented.