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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.
By Rick Veague

Integrating Data With the Digital Transformation Ingredients
Despite IoT data capturing an extended view of equipment health, asset status and other system components, a recent IFS survey of 200 IoT decision makers at North American industrial companies found only 16 percent consume IoT data in enterprise resource planning (ERP) software. There's no point in compiling and analyzing data without having plans to do something with it. Thus, integrating IoT with ERP, enterprise asset management (EAM) or field service management (FSM) systems is needed to progress to the next stage of digital transformation. Below are examples of each:

• ERP: Industrial automation technology provider Rockwell Automation used the IoT in assisting customers with connecting its equipment to the cloud. As a result, these customers were more empowered to analyze their operational data, which ultimately improved decision support for both operational technology and IT users.

• EAM: IoT data was used to digitize pest-control services for a company called Anticimex. The service provider retrieved IoT data from thousands of smart traps to inform predictive maintenance and enable proactive system management. The data flowing from these connected devices has also enabled Anticimex to optimize where additional traps should be deployed, by predicting infestation patterns. In one year, the IoT solution generated nearly 10,000 automated work orders, boosted sales by 100 percent and increased customer satisfaction significantly.

• FSM: The IoT benefit to field service management is obvious, due to the distance between the equipment being serviced and the service organization. Real-time insights into faults, duty cycles and operating conditions can trigger the issuance of a work order, streamlining service provision. IoT data can also be made available to customers to give them insights into their operation and equipment they may need to consider replacing, deepening the relationship with their service provider.

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