Overview

Harnessing the power of IIoT and Advanced Analytics

The Industrial Internet of Things (IIoT) refers to a subcategory of the broader scope of Internet of Things and it is changing the way businesses operate across diverse industries. The technology is quite easy to comprehend on the contrary to what many believe. IIoT powers businesses with data sourced from various interconnected devices to gain useful insights allowing them to make informed business decisions.

According to a report from the World Economic Forum, IIoT will transform businesses by changing the basis of competition, redraw industry boundaries and create a new wave of disruption. Based on the experiences of early adopters, AppsTek believes that IIoT coupled with Advanced Analytics can help businesses achieve significant benefits.

Start with the business objectives

AppsTek recommends starting with identifying the key business objectives and using IIoT and Advanced Analytics as the technology foundation to achieve the desired outcomes. Our IIoT and Advanced Analytics service has proven itself at small organizations and Fortune 100 corporations. It ensures the proper alignment of business and IT plans, it makes sure you are making the necessary investments, it assures that your investments are delivering maximum value, and it keeps progress manageable and measurable.

Rapid deployment and faster return on investment

According to reports from research firms only a small percentage of businesses have fully embraced IIoT. This is mainly because a large majority of these businesses are yet to fully understand the benefits and are uncertain about the cost and effort of deployment vs. the return on investment.

With the cost of sensors, cloud storage options, networking tools and deploying efficient technologies becoming cheaper, IIoT deployment does not require a large budget.

Because of the non-invasive nature of embedded sensor devices and lower deployment costs, both large and small businesses could save millions of dollars from the resulting benefits.

Gain a competitive advantage

Connected devices that provide crucial business data in real-time aids in faster decision making and allows for operational visibility to various departments across the organization. IIoT allows key decision makers to comprehend complex data insights. This results in defining better business models, improve innovation and aid strategic decision making.

Partnering with the right solution provider

To fully harness the benefits of IIoT and Advanced Analytics businesses should partner with technology service providers who could efficiently develop a strategic IoT platform which is secure and reliable and most importantly aligned to the business objectives.

AppsTek evaluates your organization’s readiness for change as a starting point. We will focus on your people, processes, and current technology. This will lead us to a set of Actions — initiatives that are realistically achievable, given your readiness for change, your current status and your available resources.

Are you ready to embrace the latest in technology?

Want to drive better business outcomes for your organization? You can count on AppsTek to build a long term IIoT strategy to help you monitor and optimize your assets, reduce operational risks and create the foundation to innovate and develop new business models. Do you want to work with a team that distinguishes itself with exceptional talent, integrity and rigorous work ethic? Get in touch with us right away.

Energy / Oil & Gas

Energy / Oil & Gas

Players in the Energy sector and specifically Oil & Gas companies are witnessing an unprecedented rise in operational and technical complexity amidst the volatility in oil prices. The Industrial Internet of Things (IIoT), which basically integrates collection of data from sensors, communications, and coupled with Advanced Analytics capabilities is gradually gaining mainstream adoption. The promise of these technologies is not just limited to helping companies manage their existing assets, supply chains, or customer relationships better – rather IIoT provides the foundation and roadmap for innovation and the advent of new business models.

Benefits across the value chain

Upstream companies (e.g., exploration and production) focused on optimization can gain new operational insights by analyzing diverse sets of physics, non-physics, and cross-disciplinary data.

Midstream companies (e.g., transportation, such as pipelines and storage) eyeing higher network integrity and new commercial opportunities will tend to find significant benefit by building a data enabled infrastructure.

Downstream players (e.g., petroleum products refiners and retailers) should see the most promising opportunities in revenue generation by expanding their visibility into the hydrocarbon supply chain and targeting digital consumers through new forms of connected marketing.

Use Case: Shift from reactive to proactive maintenance

When it comes to industries such as Energy / Oil & Gas, scheduled maintenance is the number one priority to avoid breakdowns and ensure smooth functioning of the business operations. But, what happens when a breakdown is encountered prior to the scheduled maintenance? Well, it’s quite easy to do the guess work. It results in huge loss both in terms of costs to fix and in lost productivity.

By combining IIoT with Advanced Analytics capabilities, maintenance teams can adopt a proactive approach with the help of real-time monitoring and alerting to identify and take preventive actions before a breakdown occurs. Positive outcomes from this would be reduced downtime, lower maintenance costs, and higher revenues.

According to studies conducted by the US Department of Energy (DOE), a properly functioning predictive maintenance program can result in the average savings shown above.

Manufacturing

Manufacturing

Manufacturing companies across most parts of the globe are faced with slow growth and volatile economic conditions. Political developments across the world, including the United States, are threatening to hamper the free flow of goods, creating more uncertainty for manufacturing growth.

While this could be viewed as a setback, visionaries and thought leaders in the manufacturing industry are seizing the opportunity to better serve their customers by taking initiatives to improve the efficiency, reduce costs, and increase performance of their machinery and production equipment.

Early adopters in the manufacturing industry have an opportunity to benefit from innovation in technology by adopting advanced manufacturing concepts and harnessing the potential of the Industrial Internet of Things (IIoT) and Advanced Analytics.

IIoT coupled with Advanced Analytics solutions can deliver greater visibility, better utilization of data, and tighter integration of underlying systems. This will help manufacturers to increase production efficiency along with workforce flexibility and product quality.

IIoT has the potential to open new possibilities for the manufacturing industry: create new or improved services, products and processes that generate new revenue streams, transform business models and drive measurably better outcomes.

AppsTek believes that IIoT and Advanced Analytics can enable manufacturing industries to benefit as much from digital transformation as the other sectors have already done.

Deployment in the plant and across the supply chain 

The Industrial Internet of Things (IIoT) applies Internet of Things technology to manufacturing. IIoT incorporates machine learning and big data, harnessing sensor data and automation. The big idea behind IIoT is that smart machines are better than humans at capturing, analyzing and communicating [some types of] data. Manufacturers can pick up on inefficiencies and issues sooner, and find answers faster.

A key catalyst for this transformation is the declining cost of technology. The advent of low cost connected sensors and devices, coupled with the availability and affordability of mass computing power, has been the biggest driver of Smart Manufacturing.

The key areas of IIoT implementation in the manufacturing industry can be broadly categorized as below, and these areas span from activities within the plant and extending up to the end points in the supply chain:

The above figure shows the different stages of the manufacturing supply chain where IIoT deployments can provide value. Smart manufacturing for manufacturing and related equipment is the starting point given its relative use compared with connecting products outside. Implementation teams can use this as starting point to have a successful IoT project and use the learnings to convince stakeholders for IoT outside the enterprise for products.

  • Smart manufacturing — for continuous monitoring of critical assets, equipment, process, and product parameters within the factory using sensors with wired or wireless networks
  • Connected products — for products giving continuous feedback about their location and performance after they are put into service in the field by using telemetry for remote monitoring
  • Connected supply chain — for keeping track of inbound and outbound shipments for location related information and critical in-transit parameters such as temperature

Value realization

As per a survey conducted by The American Society for Quality (ASQ), manufacturing companies that have digitized their processes achieved astounding results as shown below:

While there are many use cases where the power of IIoT and Advanced Analytics could be combined for business outcomes, predictive maintenance and remote asset management are emerging as the primary areas of focus for yielding better productivity and faster return on investment (ROI).

Get in touch with us to know more about how and IIoT and Advanced Analytics can open the door to new revenue streams and value-producing opportunities for your organization.