- July 6, 2017
- Posted by: Mahesh Kulkarni
- Category: Blogs
Web 2.0, Industry 4.0 has set a new benchmark in the digital revolution. The Internet of things in industries, known as IIoT enables businesses to have a competitive edge with uniquely innovative solutions. New revenue models, cost-effective products, and increased productivity with automation are leading to the widespread adoption of IoT. Apart from the threat of security breaches in different layers of IoT topology, and interoperability issues; IoT can put a business in the black by interconnecting the ‘things’, enabling communication between them and finally streamlining the workflows in industries.
Here are the Industry Best Practices for Leveraging IoT and Gaining a Competitive Advantage
1. IoT Analytics
The Internet of things and the Industrial Internet of Things makes your setup mobile as well as virtual. This benefit is best used for gleaning insights that lead to actionable outputs. New products can be launched based on these insights. Lean manufacturing processes could have transformational changes. IoT and Big Data Analytics can be integrated for predictive analytics and machine learning in industries, as well as Retail, and Healthcare domain.
2. Internet of Things and M2M Communications
Adding internet connectivity to Machine to Machine (M2M) communication lets the client applications and services accrue a vast amount of data. Every device with a microcontroller can be IoT connected. This makes real-time processing possible, even for low-powered devices.
3. Virtualized Hardware
IoT platforms provide tools that virtualize hardware (like RFID components) for checking IoT standards conformance, machine learning with IoT Analytics, IoT Security Testing, and a lot more.
4. Software-Driven Services
IoT has opened new avenues for software-driven services that offer various levels of processing for data from sensors and devices, and hardware platforms. These services include data ingestion, storage, analytics, and presentation. All these services can be used as a whole, or individually.
5. Enterprise-Level Connectivity
Along with a business outcome-driven approach for using data insights, IoT streamlines the workflows in organization systems, like ERP and CRM, and PLM enterprise systems. This leads to a better TCO and increased ROI.
6. IoT in Energy Management and Manufacturing
Energy management can leverage IoT by technologies like LoRA <link to LoRa case Study> which are battery-operated, and have better reliability and coverage compared to legacy communication protocols like WiFi and ZigBee. This can be used for Automatic Meter Reading (AMR) and in Smart Grids.
IoT has numerous operational benefits in lean manufacturing, as well as shaping new functionalities and delivering completely innovative products.
7. IoT in Healthcare
The major advantage of IoT in healthcare is for monitoring and actuating wearables used for measuring different health parameters, as well as analyzing this data for providing better healthcare.
These are a few industry best practices for leveraging IoT. Hope this helped.