Balluff Inductive Sensor with 4 Wires


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I just got a balluff inductive sensor with 2 outputs: one says (sensor) the other one says (monitor). what exactly is the monitor for? Is it for failure, pulse rate, or something else? i'm not sure and the technical sheet doesn't specify.

Btw the sensor has a product code: BES M12MI-PSC40B-S04G-M01
Order code: BES01ZM

I will be very grateful for a clarification.