With the world making rapid strides towards a completely digital era, information sharing, massive interconnected devices and data sharing are much more prominent today. The world of multiple connected devices has meant that manufacturers across the industrial spectrum are adopting industrial internet of thingsor IIoT to improve their operational efficiency smartly. After all industrial IoT is helping business improve scalability by reducing wastage, improving efficiency leading to better revenue generation.
Manufacturers adoptingindustrial internet of thingsoffer not only increased efficiency but the opportunity to generate real-time data. The more number of devices interconnected in an IIoT system allow manufacturers to get insight information on productinsights. This helps manufacturers to understand the needs of the customers while generating revenue generation opportunities using data analytics with BigData.
Industrial IoT more than just a buzzword
When the industrial internet of things first burst on the horizon many manufacturers considered it to be similar to traditional manufacturing lines which were just connected with each other more efficiently. The evolution of Industrial IoT has today made sure that manufacturers are unlocking their vast potential of a digitally interconnected system. Manufacturing enterprises have witnessed improved operational efficiency with an optimizing production line, much improved machine lifecycles, and higher worker safety all thanks to industrial internet of things.
BigData and its relevance in manufacturing
Industrial IoT is today an intelligent network of interconnected and instrumented objects sensing, interacting, and proactively communicating with each other. With host of such interactions every second, manufacturing companies are witnessing a massive data surge or BigData. This BigData is an actual goldmine that holds the key of extracting relevant information helping manufacturers take data driven decision. From development of customized products, identification of newer business models and innovations, BigData along with IIoT together is a game changer for the manufacturing sector.
IIot and BigData: A smart communion for next generation business operations
The combination of Industrial internet of things with BigData and data analytics offers manufacturers a new perspective which is uniquely different from traditional analytics. For example, in manufacturing lines having various assembly machines of different ages, there were traditionally no analytics on machine behavior. A manufacturing machine was supposed to deliver till it encountered wear and tear or witnessed some sort of a mechanical breakdown. With the use of industrial internet of things, interconnected machines ensure there is a case of mapping the detailed functionality of every unit. Enter IoT analytics and BigData solutions and the enterprise can zero in on the performance matrix of each unit comparing how the older machines were performing compared to newer units.
The churning of BigData analytics means that manufacturers now can get access to real-time contextualized data allowing them to gauge a plan of action instantly. Manufacturers traditionally fixed one day in a week to observe trends and seek improvement in manufacturing efficiency. With BigData analytics such weekly trends are now offered in real time.
BigData analytics along with industrial internet of things also offers an additional revenue generation stream for the manufacturing enterprise. For example, a car manufacturing company can make use of industrial IoT in its production line analyzing each movement through various data points collecting information every passing second. Using this information, the manufacturer can then optimize their manufacturing processes like adjustment of power needs leading to improved power usage and lower electricity costs during the manufacturing process. Even a small saving of 5% in electricity costs in a large manufacturing setup can lead to a potentially significant financial saving for the enterprise.
Information monetizing advantages of BigData and IIoT
The information revealed by industrial internet of things and big data analytics can be useful as a monetization prospect. For example, a car manufacturer can use IIoT and trace tyre performance under different conditions. While the information at one hand can be passed on to the vehicle owner to increase the life of their car tyres, it can also be passed on as an extra premium service to tyre manufacturing companies helping them with a valuable insight on tyre performance which they can use to innovate and improve product performance in the future.
Conclusion: Industrial internet of things means more interconnected devices that are able to share information in real-time. Analyzing the shared information using smart analytics and BigData can improve manufacturing efficiency, reduce costs, and open up newer revenue streams for manufactures.