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Operationalizing IoT Data to Drive Revenue in the Enterprise
Digesting data and devising a way to collect, analyze and operationalize insights can result in profitability.
Jul 22, 2018—
Connected devices can generate valuable data streams that provide a wealth of knowledge which enterprises can employ to enhance product and service solutions. This potential for enterprises to successfully transform their business models and increase profitability isn't being tapped to the extent that it can be. Sixty percent do not possess the analytic capabilities they need to leverage this data, according to an IoT study conducted by Capgemini. Unfortunately, most of these data streams pile up in silos and are forgotten about, but digesting this data and devising a way to collect, analyze and operationalize these insights will result in profitability, if done right.
Understanding the Potential of IoT Data
Modifying Your Monitoring Along the Way
As monitoring progresses, making note of other factors affecting the process being studied could provide valuable observations worth adjusting your initial objectives around if it impacts productivity. For example, you might find that vibration patterns appear to accompany the temperature and speed factors in affecting total throughput, making it clear that this should be monitored as well. By and large, setting concrete objectives regarding what to achieve with IoT data is important, but reworking along the way will ensure no trend is forgotten.
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