Calculation and storage resources
The Internet of Things is a thriving technology that is witnessing a substantial increase, especially in virtue of the proliferation of low-cost sensors, moderately priced connectivity, new and highly scalable cloud platforms, broad availability of computing and storage resources, popular mobile apps and widespread machine learning technologies.Within this context, the Industrial Internet of Things (IIoT) has become a commonly used idiom when discussing the redefinition of the processes of management and enterprise improvement.
One of the most popular applications of the IIoT involves the administration of physical assets as well as predictive maintenance. Namely, among the most interesting segments there are manufacturing companies, integrated logistics, Oil&Gas Utilities and operators and, last but not least, machine-tools producers.
Introducing IoT measures into management processes crucially changes the perspective.
As a matter of fact, past solutions (such as RFID, Scada systems, EAM, etc.) were characterised by far too specialistic and vertical elements and a tendency to belong to processes which were unconnected from one another and targeted unrelated customers.
However, an Asset Management solution using IoT measures would instead prompt a complete, digital System that is fully integrated with resources, processes, solutions, individuals and assets.
In other words, this entails the de facto localisation of the asset, the monitoring of its conditions, the management of its life cycle and the control of its processes. This also adds on Intelligence to automated work flows as well as an addition of real-time alarms, alongside the extraction of insight of data and the potential execution of maintenance (if necessary). Moreover, smart asset management deals with the programming of predictive maintenance and the carrying out of analysis through separate functional areas.
Some of the many operational advantages that come with the implementation of this asset include: the reduction of costs and of maintenance timeframes, the management of under-utilisation, the limitation of a decline in terms of services quality and, finally, the overall less significant need of human resources compared to the number of assets.
This also contributes to greater benefits in terms of strategical advantages as business decisions are now progressively rendered more structured and well-founded. As a matter of fact, as a result of the data analysis obtained by several sensors and devices, it is now possible to implement integrated and mid-term management of all of the assets.
Finally, this allows for the amendment of a business model and for the enrichment of our proposition by constantly adding more and new services aimed at different products.