Some are calling the industrial Internet of Things the next industrial revolution, bringing dramatic changes and improvements to almost every sector. But to be sure it’s successful, there is one big question: how can organizations manage all the new Things that are part of their organizations’ landscapes?
Most organizations think of asset management as the practice of tracking and managing IT devices such as routers, switches, laptops and smartphones. But that’s now only part of the picture. With the advent of the IoT, enterprise Things now include robotic bricklayers, agitators, compressors, drug infusion pumps, track loaders, scissor lifts and more—and all are becoming smarter and more connected.
Here are just a few examples:
● Transportation is an asset-intensive industry that relies on efficient operations to achieve maximum profitability. To help customers manage these important assets, GE Transportationis equipping its locomotives with devices that manage hundreds of data elements per second. The devices decipher locomotive data and uncover use patterns that keep trains on track and running smoothly.
● The IoT’s promise for manufacturing is substantial. The IoT can build bridges that help solve the frustrating disconnects among suppliers, employees, customers, and others. In doing so, the IoT can create a cohesive environment where every participant is invested in and contributing to product quality—and every customer’s feedback is learned from. Smart sensors, for instance, can ensure that every item, from articles of clothing to top-secret defense weapons, have the same quality as the one before. The only problem: The many pieces of the manufacturing puzzle and devices in the IoT are moving so quickly that spreadsheets and human analysis alone are not enough to manage the devices.
● IoT in healthcare will help connect a multitude of people, Things with smart sensors (such as wearables and medical devices), and environments. Sensors in IoT devices and connected “smart” assets can capture patient vitals and other data in real time. Then, data analytics technologies, including machine learning and artificial intelligence (AI) can be used to realize the promise of value-based care. There’s significant value to be gained, including operational efficiencies that boost the quality of care while reducing costs, clinical improvements that enable more accurate diagnoses, and more.
● In the oil and gas industry, IoT sensors have transformed efficiencies around the complex process of natural resource extraction by monitoring the health and efficiency of hard-to-access equipment installations in remote areas with limited connectivity.
● Fuelled by greater access to cheap hardware, IoT is being used with notable success in logistics and fleet management by enabling cost-effective GPS tracking and automated loading/unloading.
