The proliferation of connected devices has resulted in a previously untapped mass of data, empowering businesses with meaningful information about productivity, supply and demand, consumer patterns, and much more.
The Industrial Internet of Things (IIoT) is opening new opportunities for industry and business innovators. What differentiates IIoT from IoT is its focus on mission-critical systems and the challenges of drawing critical information from them.
Those who apply IIoT effectively will be empowered with competitive control of their operational systems. Those who ignore the trend do so at their own peril.
The Internet of things is not a specific product or approach; rather, it is the idea that just about anything can be connected and made to communicate. This creates vast opportunity to measure and learn from previously inaccessible data.
We stand on the brink of a revolution; we are witnessing a convergence of trends in technology, including near-ubiquitous sensors on devices, unlimited storage, massive bandwidth, readily available connectivity via the Internet, and a host of open source software solutions to support it all. This collection of maturing technologies is changing the way we gather information, and manage the interaction between machines, people, products, and processes, ultimately allowing us to harness new opportunities and optimize business in innovative ways.
The rise of the IIoT will have significant implications on the global economy, and its potential payoff is enormous.
The first step in taking advantage of IIoT is to identify the empowerment opportunities you have and assess the barriers that stand in your way.
Here are some common barriers among industries.
Timely Decision Making
Critical struggles in decision making are often caused by 1) a lack of relevant data and 2) the inability to process data due to complexity, inaccuracy, manual processing, or sheer volume.
Technologies supporting IIoT capabilities offer the ability to collect and disseminate valuable data by incorporating new sensors, transforming data into usable formats, and performing deep analyses that lead to actionable insight.
Streamlining and adding value to your overall operational productivity through reduced downtime and defect avoidance is always a primary goal. However, this goal may be defeated when visibility to existing data or potential quality problems prevent it from being available to you in a timely manner (or at all).
Through the deployment of new sensors, improved data accuracy, and greatly enhanced anomaly detection via better visualization and continual automated analysis, the IIoT empowers your organization by enabling the collection of better information in real time.
Macro business decisions, such as corporate mergers and acquisitions, often introduce issues with integrating conflicting or redundant technological solutions. IIoT innovations have introduced new pathways of communication, allowing new thinking in how this stream of information may and should be used across an enterprise.
Independently operating facilities may now have the advantages of sharing aggregate information via improved interoperability to increase speed-to-market, scale-to-market, optimized resource management, and overall improved cost controls.
Measuring and optimizing operational performance in today’s fast-paced business cycles often translates into a demand for real-time feedback of operational system data. Businesses often lack insight into key performance indicators due to the absence of relevant data or inadequacies in how that data is analyzed.
The IIoT introduces new capabilities by extending the reach of data collection to devices not previously integrated for this purpose. Real-time analysis of this collected data, combined with automated system control, can move you closer to your best performance goals.
Untapped Business Intelligence
Incorporating IIoT expansion into your industrial solutions adds new dimensions to the data now present for analysis. Advanced data discovery solutions build on this by exposing new insights, leading to better decision-making and new possibilities for improvement.
The Revolution Is Upon Us
It has been said, “We’re used to being able to connect with people, buy things, and manage almost everything in our personal lives in an instant. Why shouldn’t we expect these same capabilities to exist on our factory floors?” (Annunziata, Biller).
The truth is that these capabilities do exist on the factory floor. While IIoT allows you to capture all this data, what you do with the data — visualization, deep analytics and insight, security, decision-making and automation — is key.
We can help.
Contact us today to find out how incorporating IIoT into your operations could revolutionize the way you do business.