Data is The Lynchpin in Realizing IoT Value
IoT is about connecting “things”, capturing data from those “things” and ingesting that data into analytics tools. However, the value is only realized when an organization can do something meaningful with it after it’s been run through an analytics tool. In many cases, it’s the real-time nature of that IoT data that provides the transformational insight needed to create meaningful outcomes.
According to a recent IDC study on how organizations are using IoT, these areas were identified as needing real-time data and analytics:
- Quality control – to help to ensure final products meet product standards
- Productivity – to help understand the efficiency of processes across the organization
- Safety and compliance – to provide visibility into critical safety metrics
- Monitoring – to maintain oversight on specific endpoints or processes to ensure they are operating optimally
- Maintenance – to gain real-time insight into health of machines and when action is required to service a machine
Having better insight will help an organization realize not only savings to the bottom line but also improve worker safety, monitor quality and ensure assets are healthy and operational. Customers are happy, employees know they are safe in their work environments, and machines are operating at their optimal performance. Only by connecting endpoints, pulling the data from those edge devices and using analytics to draw out insights allows for these outcomes to be achieved.
The crux of the IoT is in the data it creates. It provides the crucial insight into existing processes and, over time, helps to justify reasons to invest in new or additional capabilities or to improve current processes or applications.
However, it affects the people within the organization as well. It changes job functions, making tactical workers become information workers. A good example is seen the transformational shift repair technicians are experiencing. In an unconnected world, they were dispatched to a customer site after an equipment malfunction has occurred. In a connected environment, repair technicians can proactively take action on equipment before a failure occurs due to the insights they have at their fingertips.