Smart Manufacturing – Thanks to the IoT, dog days of low-value data are over
Jan 10, 2018 Vinay Nathan, CEO Altizon Systems shares with Advanced Manufacturing community thoughts on why IoT is changing everything for industrial world and how power data is revolutionary.
Innovations like sensors and machine learning that are part of the Internet of Things (IoT) movement coupled with dramatically falling prices for data storage and the ease of cloud computing have prompted manufacturers to overhaul their standard ways of doing business. This combination—the Industrial Internet—has the potential to deliver up to $11.1 trillion a year by 2025, GE says, noting that B2B solutions would capture about 70% of this.
Predictive maintenance, quality control, resource optimization, supply chain management, remote monitoring and asset tracking are use cases that are spearheading the adoption of the Industrial Internet. The application of data has shifted focus for many manufacturers from raw numbers. These days, instead of trying to create more, manufacturers are trying to be smarter about the way they create.