The objective of the SmartEmma project is to develop innovative smart and connected machine-tool for High Speed Machining (HSM). The aim is to contribute to the digital Factory of the Future (industry 4.0). Signals from close to the process instrumentation and from the connection to the CNC (Computer Numerical Control) of the machine-tool are collected in large process database. Research will be carried out to define Key Performance Indicators (KPI) and methods for data analysis, in order to improve HSM process efficiency, through machine learning and decision support tools. The approach requires an adapted modelling and efficient management of HSM process data and knowledge. KPI will be identified by Knowledge Discovery in Database and Data Mining. Continuous process improvement will be eased by an expert system and by long term learning. It will conduct to new leverages for decision support for the operational management of a machining company. Smart machines will also result from advanced perception and new real-time adaptive control capabilities.