While investment in the Internet of Things is rising, the majority of organisations still have not implemented IoT systems within their organisation. Those that have are already experiencing a number of benefits of the technology. These include cost savings, market share growth, and gaining a competitive advantage. Yet one of the most noted advantages that’s emerging from the implementation of IoT technologies is improved operational efficiency. This is one of the biggest reasons for investing in IoT.
How does IoT boost efficiency?
IoT addresses one of the biggest sticking points of big data: transforming this data into actionable insight. With connected devices across the organisation, businesses can not only collect data from a wide selection of sources but also gain a ‘big picture’ overview of operational performance. This can enable managers and leaders to identify sticking points in operational processes. They can then make smarter, more informed decisions about streamlining ways of working.
Of those businesses that have already implemented an IoT system, many are using the technology for access control purposes, cold stores monitoring, logistics tracking, and HVAC management. But one of the most interesting emerging applications for IoT in industry is for predictive maintenance.
What businesses want
When it comes to boosting efficiency, businesses are perhaps more interested in collecting data that can help them to implement a predictive maintenance approach, rather than alternatives such as saving energy. Not surprising, considering UK manufacturers lose £180 billion per year in total due to downtime.
Today’s businesses want – and need – to invest in IoT technology that will integrate with their existing warehouse management systems. This will help them effectively manage one of the biggest challenges standing in the way of optimal efficiency: unexpected downtime. They want easy access to maintenance data through a computer or handheld mobile device. This should quickly and clearly display maintenance information and alert managers to potential vulnerabilities that could introduce future problems.
IoT, in this instance, can have multiple benefits, including:
- Predicting machine downtime
- Improving transparency
- Reducing (or even avoiding) production or delivery delays
- Lowering repair and maintenance costs
- Boosting the efficiency of both the equipment and the workforce
Addressing the challenges
Despite businesses wanting to improve efficiency through predictive maintenance, the fact remains that most organisations have still not implemented IoT technology into their day-to-day operations. Why?
IoT technology is becoming increasingly accessible to businesses across all industries, but there are still a number of perceived challenges in embracing the Internet of Things. One of the most common challenges for businesses is integrating the infrastructure needed to support such a system. But that’s far from the only concern that today’s businesses have about taking the next step in digital transformation. Some of the other common challenges being experienced by IoT-curious businesses are:
- Security: Some organisations have security concerns, particularly in terms of two-way communications between the user and the receiver. Many want to transfer data using a secure business network.
- Knowledge: Some businesses are voicing concerns over the technology knowledge gap that exists within the organisation, with worries over who will develop business models and manage the system.
- Scalability: Organisations are naturally concerned about the scalability of IoT systems. They want to know that an application is able to grow with the business, as it continues to grow and develop in the future.
The good news is that IoT providers are listening. Many are taking these obstacles to adoption into account, developing simple, standardised, and more robust solutions that meet business requirements.
Gen8-IoT™ from Powerhouse Digital, is a groundbreaking industrial door management software solution. It increases the productivity of your operation, improving accuracy and cutting costs.
It offers: Advance analytics, alert and notification tools to help prevent costly damages to people and assets.
More importantly, it helps your organisation reduce it’s carbon footprint and works towards meeting your Net Zero targets.
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