In­te­grated In­dus­trial In­ter­net So­lu­tions for Op­ti­miza­tion and In­no­va­tion

HOW IN­DUS­TRIES ARE SHIFT­ING

Arabnet - The Quarterly - - Content - By Alexis Bagh­dadi @Guer­ril­laWriter

In­te­grated In­dus­trial In­ter­net So­lu­tions for Op­ti­miza­tion and In­no­va­tion

The In­dus­trial In­ter­net al­ready has a firm foothold in many heavy in­dus­tries, even though most com­pa­nies do not call it by its name yet. For now, in­dus­tries are prob­a­bly more fa­mil­iar with terms like Au­to­ma­tion, Big Data, the In­ter­net of Things, and An­a­lyt­ics.

An es­ti­mated 90% of the world’s data has been cre­ated in the past two years, and the amount of in­for­ma­tion cre­ated by busi­nesses is dou­bling ev­ery 1.2 years. In par­al­lel, the drop­ping cost of hard­ware and con­nec­tiv­ity tools means that de­vices and peo­ple will be more con­nected than ever.

The seam­less in­te­gra­tion of hard­ware, soft­ware, peo­ple, and data will in­tro­duce en­ter­prise-wide – and in­dus­try-wide – sys­tems for op­ti­miz­ing pro­cesses (in­creased ef­fi­ciency and re­duced costs) and tar­get­ing new mar­kets with in­no­va­tion and com­pet­i­tive­ness. Con­ser­va­tive fore­casts by Wik­i­bon es­ti­mate that world­wide spend­ing on the In­dus­trial In­ter­net could reach $500 bil­lion by 2020, and pos­si­bly rep­re­sent $15 tril­lion of global GDP by 2030.

Read on to find out what the hype around the In­dus­trial In­ter­net is all about:

The In­gre­di­ents for Op­ti­miza­tion and In­no­va­tion

The In­dus­trial In­ter­net’s evo­lu­tion is be­ing driven by ad­vances in both hard­ware and soft­ware, promis­ing mo­men­tous shifts over the next 10 years. The in­gre­di­ents of In­dus­trial In­ter­net are as fol­lows:

1. Big Data: Big Data an­a­lyt­ics is the foun­da­tion of the In­dus­trial In­ter­net. It is the abil­ity to add sen­sors and data col­lec­tion mech­a­nisms to in­dus­trial equip­ment. In­creas­ing dig­i­ti­za­tion creates more data. This data can be used for de­ci­sion-making and holds more po­ten­tial busi­ness value than other types of Big Data as­so­ci­ated with so­cial me­dia, con­sumer In­ter­net, and other sources.

2. The In­ter­net of Things (IOT): Smaller, cheaper, and smarter sen­sors are be­ing in­tro­duced– in homes, clothes and ac­ces­sories, cities, trans­port and en­ergy net­works, as well as man­u­fac­tur­ing pro­cesses. The In­ter­net of Things sup­plies even more data about equip­ment, prod­ucts, fac­to­ries, sup­ply chains, etc.

3. Com­put­ing, com­mu­ni­ca­tions, and stor­age: In­creased stor­age ca­pac­ity, cou­pled with the con­tin­ued rapid de­cline in the size and cost of com­put­ing and con­nec­tiv­ity tech­nolo­gies is driv­ing an ex­po­nen­tial growth in the po­ten­tial to ac­cess and lever­age the in­ter­net.

4. An­a­lyt­ics: The grow­ing abil­ity to mine and an­a­lyze data will pro­vide bet­ter

in­sights into the sta­tus of equip­ment and the need for main­te­nance, i.e. As­set Per­for­mance Man­age­ment (APM).

The sum to­tal of th­ese com­po­nents pro­duces the In­dus­trial In­ter­net. In other words, the In­dus­trial In­ter­net in­te­grates the phys­i­cal and dig­i­tal worlds. It en­ables com­pa­nies to use sen­sors, soft­ware, ma­chine-to-ma­chine learn­ing, and other tech­nolo­gies to gather and an­a­lyze data from phys­i­cal ob­jects or other large data streams. This is set to re­de­fine busi­ness in­ter­faces and the way busi­nesses op­er­ate – par­tic­u­larly heavy in­dus­tries – not only on the B-to-c level, but also on the B-to-b one.

Ac­quir­ing a Com­pet­i­tive Edge with Big Data

The im­pact of the In­dus­trial In­ter­net can be felt at an in­dus­try level as well as a com­peti­tor level. The im­me­di­ate pay­off for com­pa­nies in all in­dus­tries is op­ti­miza­tion and in­no­va­tion (the abil­ity to de­sign new value-added ser­vices). This is es­pe­cially sig­nif­i­cant in th­ese 8 main ver­ti­cals: Avi­a­tion; Oil & Gas; Trans­porta­tion; Power Gen­er­a­tion and Dis­tri­bu­tion; Man­u­fac­tur­ing; Health­care; and Min­ing. Global and large-scale in­dus­trial com­pa­nies in th­ese ver­ti­cals have al­ready rec­og­nized the po­ten­tial power and source of value of the In­dus­trial In­ter­net, ac­cord­ing to new re­search from GE and Ac­cen­ture. Across sur­veyed in­dus­tries, 80% to 90% of com­pa­nies in­di­cated that Big Data an­a­lyt­ics is ei­ther their top pri­or­ity or one of the top three. 73% of com­pa­nies are al­ready in­vest­ing more than 20% of their over­all tech­nol­ogy bud­get on Big Data an­a­lyt­ics, and more than 2 in 10 com­pa­nies are in­vest­ing more than 30%, with this spend­ing ex­pected to in­crease just in the next year (See Fig­ure 1).

By im­ple­ment­ing In­dus­trial In­ter­net so­lu­tions based on Big Data an­a­lyt­ics, com­pa­nies will fi­nally be able to move

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