The term Internet of Things has been around for a few years now and there is increasing activity in the market. Many vendors are claiming success, however market maturity is sporadic and while there are huge gains to be made, the way forward is not always so clear.
For IoT to deliver in most organisations some time needs to be dedicated to planning and collaboration with a number of partners to derive solutions and bring together technologies which live up to the hype.
Currently there are two IoT worlds: Consumer IoT and Industrial IoT.
There are some applications where these merge in Telecoms, marketing, smart urban mass transportation and new pharmaceutical development for instance, but for most businesses they can be treated separately for now.
Consumer IoT is about connecting our daily lives with services or for information; think wearables and the connected car.
Industrial IoT (IIoT) is about connecting high value capital assets to services and supply chains for greater efficiency, higher yields, better safety and regulatory compliance.
Within IIoT Vetasi believe IBM technology based solutions will lead the connected business solutions space across a range of engineering and asset intensive industries. Connecting physical assets to Enterprise Asset Management systems such as Maximo is one way IIoT can deliver large value to many businesses.
Where to start?
To be successful IIoT initiatives need to bring together a number of elements which Vetasi are well placed to develop with our customers and prospects.
We can work with your stakeholder team to improve Asset Management and Optimization capability. Our consultants can use an assessment framework to understand and quantify your current operations. This is scaled to align project goals according to specific business objectives. The recommendation outcomes target functions where investment in IIoT will provide the greatest improvements to existing asset health monitoring and management processes.
Relevant, focused use cases can then be developed which are now feasible because IoT lowers the cost of data capture, transmission, processing and prescriptive analytics. The data can be processed effectively using Edge and Cloud based systems to provide decision support information which is actionable. These activities including maintenance intervention, changes to asset operation or configuration, updating servicing workscope or change in supply chain should be tracked to closure with knowledge capture in systems such as Maximo.