The need for businesses to be ready for the changing times and innovative technology is creating space for issues such as Operational Efficiencies, Productivity and another related procedure to be brought into the mainstream. The main intent of an industry is to properly create solutions for customer challenges, and thereby grow.
Specific crises that arise in the industry are unavoidable and are a hurdle to succeed. Over time, advancements and developments to answer these problems have observed the peak, and are apparently getting established. Finding solutions through the new emerging technologies for increasing productivity has become a prerequisite to stay competitive.
Industrial Internet of Things or IIoT, the buzz behind the manufacturing industries has revolutionized the way we look into problems. Given the fact that most of the industries are gathering data, knowingly or unknowingly, with the IoT systems, their utility to gain productivity is potentially gaining competitiveness. Let’s throw some light on the best way to enhance its complete application.
Though some businesses have inculcated the technology of IIoT, the productivity is not up to expectation. All the money that is invested on building connectivity may seem futile if you cannot make sense of the data collected. We have always been speaking about generating a data lake.
Well, IIoT is not just that. In an industry, there are hundreds of thousands of devices hitting the data on to the servers in various forms like time series data, ordinal, image and point cloud, text, serialization — all on different time frames, from different sources and of different kinds on to the same system!
Collecting, cleaning and organizing this whole data set is itself a large task, for a team of data scientists. According to a survey by CrowdFlower, data scientists spend 79% of their time on low-value tasks like collecting, cleaning and organizing data, and just 13% of their time mining the data and refining algorithms. When we reverse the percentiles of operations, we can solely claim that IIoT boosts the productivity of the industry.
Gathering data and making sense:
Recently the executives from Ford and Mercedes established the deliberate applications of IIoT and how that has led to the technical advancements in their respective industries. Not just on the manufacturing point, these companies are also in on building autonomous vehicles.
All in all, the idea of Industrial IoT is a blessing to any manufacturer and it has to be viewed as one. In a nutshell, gathering all the data and making sense of it and getting a prediction about tool changings, to avoid unnecessary shutting downs, tracking the entire manufacturing process digitally and economically, obviously, helps in increasing the Productivity of an industry.