Very much the buzzword of the modern industrial age, what do we mean by IoT and what is the significance for industry?
Put simply, it is the world of (semi-autonomous) connected devices, and it is fair to say that the big beasts of the tech world (Google, Cisco, Verizon etc.) are slugging it out to achieve dominance over this new wave of technology in much the same way as the adoption of the internet witnessed the browser/search wars in the 1990’s.
To be able to have a large number of devices, they have to be affordable. Even to the point of disposability. Fortunately, innovations in electronic component manufacture has continued to drive prices down. This ‘democratisation’ of electronics (which can be traced back to the transistor) has and will create enormous challenges for large scale providers of industrial hardware which have traditionally commanded a premium. Not only have components become far more readily available at far lower prices but the drive for ever greater miniaturisation is critical for ever smaller devices.
The impact is everywhere. As more and more devices are produced, they facilitate the capture of ever-increasing amounts of data but this is as much a curse as a blessing. Getting the data that industry needs from these devices, in a timeframe that allows effective decisions to be taken, is becoming a fundamental bottleneck to progress, leaving many organisations somewhat flat-footed when it comes to embracing the enormous benefits that IoT can bring.
At Dashboard, we understand IoT. We know how to capture and, equally importantly, transmit the data. We can perform sophisticated analysis on the data so that your business can make better operational decisions based only on the information it needs.
Whilst consumer applications of IoT have grabbed most of the headlines to date, many in business are unaware of the fact that highly credible sources such as Deloitte, predict that 90% of IoT value creation will be enterprise and industrial. It is the industrial Internet of Things which will become the long-term driving force in the future.
The application of IoT technologies to industrial processes and the attendant data analysis implicit in such systems integration will be shown to deliver increased process continuity, reduced cost, business improvement, regulatory compliance and reputational enhancement across all verticals in the next 10 years.
This is a step change for which Dashboard could not be better prepared.
Talk to us about how Dashboard can help with your IOT Projects.