Understanding Your Products & Processes Through IoT and Data Analytics

IoT Analytics Service Offerings from Indium

IoT Data Ingestion into a platform (Data Warehouse or Data Lake depending on data volume)

Data Streaming & Refresh – Real-time or Near Real-time

Data Processing – Loading, Cleansing, Transformation & Aggregation

Build Analytical Models based on Machine Learning

Create Visualization & Consumption Layers – Reports/Dashboards & Applications/Portals

The insights gained through our analytics are presented via:

Ad hoc reports: This helps drill down on any parameter and allow for custom reports to be built on the fly.

Alerts: These alerts are based on predefined rules and are generated automatically.

Standard reports: A predefined range of parameters are set, on which insights are provided at regular intervals data preparation

https://www.indiumsoftware.com/iot-analytics-services/

IoT and IIoT Case Studies

TVS Motor

https://altizon.com/tvs-automotive-case-study/

Wiscon Products

https://iiot-world.com/industrial-iot/connected-industry/new-iiot-case-study-with-wiscon-products/

2016

Using IoT Data to Understand How Your Products Perform

HBR June 2016

General Electric has announced that it will spend $1 billion dollars onn IoT.

Survey of 795 large companies (average revenue of $22 billion) in North America, Europe, Asia-Pacific, and Latin America by TCS found that  average per-company spending on IoT initiatives — was $86 million in 2015.  It is projected to grow to $103 million by 2018.

 Use of IoT is increasing. Producers are installing sensors in their products.

But, only 6% of companies selling products with less than $100 price tags had embedded wireless sensors in their offerings. In contrast, 54% of companies whose products’ average sales price was between $1 million and $10 million did have digital sensors that communicated product performance back to them.

Four key elements to use  IoT to get the ultimate truth on product performance:


1. Getting customers to agree to have their products monitored, which in turn means giving them something of value in return.  Customer must have some benefit.

2. Product performance data must be processed and acted upon quickly. Real time data analysis capability has to be developed.

3. A culture that accepts the truth, however bad. Companies have to accept bad performance of their products and communicate to the customer the anticipated problems. Do rectification of them.

4. “Reimagining the business” must become the mantra.  It is like reengineering. Now branded as reimagining. Understand the services of IoT offers and redesign your business around the power and potential of IoT. Creative effort to use IoT in innovative way is required to see new things before others or understand what others have done through newspaper or digital media news.

Ud 1 June 2021

18.6.2016