IoT implementation arrives to industries, but at which speed?
According to a study by the global market intelligence firm IDC, last year nearly 60% of decision makers were already convinced that IoT will be strategically important to their business, while almost one in four believed in its significant potential to effect change.
2016 marks the year in which the number of manufacturing factories that have implemented a basis for IoT will surpass those that haven’t. In this article for Digitalist magazine, Andreas Schmitz, freelance journalist for SAP offers an interesting outlook on the speed at which IoT will be mainstream in various other industries.
Read more at http://www.digitalistmag.com/iot/2016/05/06/when-will-iot-be-mainstream-in-your-industry-04175090
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Combining multiple data sources adds value
When speaking about industrial internet and the benefits it offers, a thing that is likely to come up is the ability to access massive amounts of data, that once discovered, can reveal unseen correlations and thus increase understanding of different processes. In order to truly understand the connections between certain aspects and utilize new technology to its full potential, all the possible sources of information should be taken into account. These include both the equipment and the people who use them. Finding the most valuable information is usually a result of harvesting and combining data from the two.
Being able to utilize information collected by hi-tech equipment has become a prerequisite for businesses of today. A company that fails to adapt to this new environment will inevitably fall by the wayside. We are currently at a turning point, where investing in the future opportunities provided by digitalization is becoming crucial for maintaining a business advantage.
It’s good to keep in mind that the customer aspect is not the only definite advantage here. Using intelligent technology and automation also helps companies to improve internal processes and in some cases lighten the cost structure. At grass roots level it means the ability to extend components’ life cycle or change interval, for example. Increasing the understanding of the equipment – how to use it in the best possible way and how to avoid fault situations – also makes it easier to optimize processes. Basically it means having more control over things.
Mixing data for the benefit of the customer
In order to achieve control and the ability to make business better through digitalization, one literally needs to look at the big picture. In the picture there are not only machines, but also people who use them. In a certain process there is data coming from all kinds of sources, and each and every one of them needs to be acknowledged.
Konecranes utilizes a new maintenance data system that enables reporting back at a component level. What happens is that we monitor our customers’ equipment remotely, and when our maintenance technician goes to the site to perform a crane inspection, all the details concerning each component can be recorded. The system enables us to keep track of what exactly has been done, to which components, and what kind of observations have been made in the process.
A key feature in the data system is a so-called Risk & Recommendation method, which means that when a certain error code is identified, it is followed by a designated risk category and a recommendation of the correct repair measure.