Top six benefits of IIoT systems
As part of an overall process of digital transformation, an IIoT network provides a powerful tool for building greater resilience and competitiveness.
Here are six key benefits of IIoT:
Improved business agility
When IIoT devices share data in real-time, they contribute to an intelligence network that continually gathers, analyzes, and learns from data. This allows businesses to respond to opportunity – and risk – with speed and decisiveness. And those same devices not only send data but can also receive instructions based on data analysis to adapt and optimize their automated workflows.
Healthier machines
Devices and machines in an IoT network are continually transmitting operational logs and performance data. AI and machine learning algorithms use this sensor data to gain valuable insights into predictive and other maintenance needs, which can lead to significant cost savings. In fact, according to McKinsey, “Predictive maintenance typically reduces machine downtime by 30% to 50% and increases machine life by 20% to 40%.”
Greater efficiency
Unfortunately, “if it ain’t broke” is often the stance that businesses take when prioritizing their operational needs. This attitude can lead to inefficient legacy processes hanging on past their prime. The application of advanced analytics to IIoT data leads to ongoing recommendations and strategies for updating processes, streamlining workflows, and achieving increased efficiency and productivity.
Smarter inventory management
Today’s customers want next-day delivery and ever-increasing variety and customization. This means a bigger network of smaller, more distributed warehouses and a broader inventory with more individual items. IIoT devices can help to hook up all these geographically spread-out warehouses, inventories, and delivery networks – giving supply chain managers (and customers) a real-time idea of where inventories are at all times. And for some products, devices, such as additive (3D) printers, can reduce dependency upon remote manufacturers, allowing businesses to retain virtual inventories and manufacture the products they need – on demand and on site.
Safer workers
In any industrial setting, there is always the danger of injury or strain. Today, many businesses are reducing this risk with the use of IoT workplace safety devices. These may deliver warnings via wearable sensors or use VR headsets to help workers merge their sensory experiences with the precision of smart devices and machines. In manufacturing settings, IIoT devices can also be fitted with sensors to monitor physical interactivity with their human counterparts to help protect them from unexpected risk or repetitive strain – and even to inform new, safer workflows over time.
Improved customer service
IIoT networks connect more than just the devices and machines within a business – they also integrate customer experience and input. This integration results in more seamless shopping experiences, more transparent and personalized logistics, and greater ability to incorporate customer feedback and preferences into the manufacturing and development of new products. Real-time and meaningful engagement with customers leads to a more competitive and resilient business model.