What is and what can the Industrial Internet of Things do for us?
At CREADIS, we believe the actions of international wind executives, engineering teams, and developers during the next few years will decide who gains market advantage in the digital economy. We increasingly believe that the companies that embed Industrial Internet of Things (IIoT solutions) into their product lines, practices, and marketing stand to realize the most benefit.
In particular, the research at CREADIS has shown that Industrial Internet of Things (IIoT) solutions allowing customers to connect remote assets (i.e. wind turbines) and equipment (i.e. hydraulic motors, pumps, valves, VFDs, etc.) to the cloud become more valuable over time. Data collection and analysis along with the ability to control the asset and fix problems remotely enable the equipment to operate at optimum efficiency.
So why should your executives or engineering unit care? IIoT’s value proposition is framed by four highly advantageous attributes for manufacturers, end-users, and operators across market verticals:
- Fast, affordable, and scalable ways for entry into the digital economy
- Automated monitoring, control, and predictive maintenance of machines in rugged conditions
- Gains in productivity and reduced costs due to minimized equipment downtime, energy consumption, and wear-and-tear
- New data flow on connected assets to improve products, supply chains, and customer relationships
These four attributes will give connected assets the competitive advantage as we must think of a connected device as a proactive maintenance tool. When the asset is connected, data that is necessary for maintenance and repair, as well as functioning efficiency can all be viewed remotely. Previously, the data may not have been available without having to stop the asset, expend human capital costs and find the problem. Having consistent amounts of data through IIoT solutions to be analyzed for trends, comparisons, and optimization is an important step in turning reactive machines into proactive assets.
The new data that connected assets will provide add a much needed proactive battle against high cost repairs and equipment operating at low efficiency. IIoT is not a magical medicine that a technology guru is emphasizing as the cure to all industrial problems. Rather, it is a real solution for key industrial assets to raise their value and reduce costs. Operators will know exactly what, why, and how assets are performing, while also making the decision making for manufacturers, end-users, and executives easier and more productive.
The article was made by Noah Sabic from CREADIS Business Consultancy, a part of the DIS Group.
If you have any questions, comments or suggestions to the blog and its posts, please contact Benjamin Juul Abildgaard.
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