Impact of IOT in Manufacturing
The Internet of Things (IoT) is more than the latest buzzword in technology. It’s a real game-changer that can create business value from previously hidden data, especially for manufacturers.
Connect your data to your decision making with IOT
#FocusOnImprovingOperations
Lowering the costs of production and operations, creating new revenue streams, and increasing customer satisfaction and loyalty are all paths to greater success and profit. Each one requires in-depth knowledge of the business and the customers, and then using that unique information to make business decisions that move the needle on revenue and create competitive differentiation. It ensures an organization to achieve more success by using hidden data to improve operations, efficiency, and decision-making.
How IOT can connect your data to your Decision-making?
All your things are connected through the internet, so that the business systems can receive and analyze that data. Then it can act on the data, by discrete decisions or in an automated way that’s triggered by a specific set of conditions. The real magic happens when we get the chance to look at that data – really analyze it – for insights about the business, the customers, and the processes. An equipment can tell a lot that we won’t find out any other way. And it can turn those insights into a real competitive advantage. we can even apply artificial intelligence and machine learning to the data and discover insights we might never detect on our own.
Optimize your Manufacturing operations with IOT – Connected Manufacturing
Every manufacturing business is different, but many manufacturing processes are similar on a basic level. Raw materials or parts at the beginning, a series of tooling or assembly steps in the middle and Finished product at the end. Every step in that chain has associated data about speed, efficiency, breakdowns, temperature, fluid levels, shift changes and human interventions.
With embedded devices and sensors, we can learn from our own systems and glean insights about how best to manage the process, including:
- Scheduling maintenance during slower times and predicting breakdowns before they happen.
- Identifying subtle bottlenecks that sap efficiency so you can optimize your process.
- Weeding out substandard raw materials, parts, or manufacturing errors before the product is complete.
Reduce your Operational costs with IOT
While reducing operational costs is a major focus of IoT solutions, that same cost-reduction solution may also be able to generate increased revenue. As data is collected and analyzed, new trends may reveal new revenue opportunities. Organizations with more sophisticated data and analytics capabilities are able to harness that data to deliver more value to the business, including stronger customer engagement, better business optimization and improved product design processes.
These organizations are:
- 2.5× more likely to harness real-time data and analytics to deliver tailored customer experiences
- 2.3× more likely to use predictive modelling to anticipate customer support requests
- 2.3× more likely to inform product design by capturing data on how their products are used.
Turn insights into a real competitive advantage with IOT
Conclusion:
Many organizations, especially small and medium-sized ones, see technology costs and complexity as overwhelming. As we continue to fine-tune the solution, we can evaluate adding new scenarios to extend the benefits of IoT across your business. The best part will be the benefits that was expected – the insight about data revealed that couldn’t have predicted. The one that puts us a step ahead of competitors and saved or made money in a way we hadn’t thought about. After all, that’s what digital transformation is all about.
Korcomptenz specializes in IoT by combining devices and technology platforms from leading providers, helping organizations connect key systems, collect data, and automate critical operations. Consult us now.
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