IIoT Solving Business Needs

The Industrial Internet of Things (IIoT) combines digital technologies such as cloud computing, IoT and ML and to drive value for the businesses and help them to stay competitive in the global market by reducing cost of operations and customer servicing

- Pradeep Chakraborty

Ubiquitous connectivity, cheap data rate, reduction in sensor price, reduced cloud commute and data storage cost, availability of massive data from operational technology, device sensors and enterprise systems etc., are some of the key catalysts that are making IIoT a reality.

Geo political instability, trade wars, fluctuating price of commodity, etc., further adds to challenges. Customers are demanding greater experience. They are no longer loyal to one brand. Global players entering the market and startups offering better services at the cheap rates, are further beefing up the competition.

The need of the hour for businesses is:

• How do they increase the topline by identifying customer needs and offering personalized products and services with faster turnaround and consistent quality?

• How do they innovate with business model to generate new revenue stream?

• How do they adopt sustainable business practices to contribute to the environment health and safety objectives, and increase brand value?

• How do they embrace technology advancements and infuse them in the processes to achieve all of the above?

IIoT for Business

Predictive analytics applied on these data can help pre-empt the equipment condition and reduce the unplanned downtime and production loss. It can also help produce consistent quality of product by providing early indicators of product defect to reduce rejections, rework and warranty claims.