iot digital transformation
“Organizations are poised to undergo a fundamental structural change akin to the industrial revolution as we usher to IoT,” writes Aniruddha Guha Sarkar, Senior Vice President of Engineering, Interra Information Technologies Inc.
Iot digital transformation – Imagine a sensor inside an offshore drilling rig. This sensor monitors the integrity of the gas turbine as well as regulates the pressure of the oil well 8,000 feet below the ocean surface. It constantly detects, transmits and checks for damage. This sensor generates data that might not have been available a few years ago, but today provides critical information to the offshore industry.
What is different now from five years ago? Simply put, the Internet of Thing (IoT) has entered the picture.
IoT is one of the spokes to the technology hub that is driving the fourth wheel of Industrial revolution. It revolves around machine-to-machine and man-to-machine communication. It is built on cloud computing and networks of data gathering sensors; it is a virtual connection. It comes up with operational visibility to make instant and effective decisions to boost quality and to optimize time and money.
According to a report by McKinsey, IoT’s economic impact will increase to $11 trillion a year by 2025. In addition, IoT devices are projected to increase to 20-40 billion devices by 2020.
Smart connected products reflect a whole new set of technical possibilities that can assist organizations to gain a huge competitive advantage. A huge leap in the productivity will be generated through these products as these products communicate to organizations as and when they are being used. This creates an improved understanding of the product in live operation and can generate valuable insights. For example, many engine manufacturers are using sensors to detect performance of these engines in real time and driving predictive maintenance decisions.
Improved data insights helps enterprises take better decisions thereby enabling better value creation and data capture. Data is the core of value chain. Before IoT, organizations ran their operations and made decisions based only on warehouse data. It could take days, weeks or even months to attain intelligence from this centralized data. It could take even longer to make decisions based on these findings.
In the age of the IoT, however, connected devices can generate real time data from diverse data types and in a huge volume. Thus these devices can communicate with each other in an ecosystem. These interactions can be recorded and analysed through advanced analytics capabilities to generate extremely valuable insights.
The post How IoT will expand the definition of digital transformation appeared first on Statii News.
source http://news.statii.co.uk/how-iot-will-expand-the-definition-of-digital-transformation/
No comments:
Post a Comment