20 November 2015
20 November 2015,
 Off
Maybe this is the first time for some of you to hear the word “IoT”. IoT is the abbreviation of Internet of Things. It is the network of physical objects or “things” embedded with electronics, software, sensors, and network connectivity, which enables these objects to collect and exchange data. This term is also known as M2M or machine-to-machine. This industrial revolution gives an extraordinary amount of objective data on your products and how they are used.

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The Implications of IoT and How Does It Improve Your Quality

 

1. Staving off the performance degradation

Here is the analogy: What if a refrigerator sensor could detect energy consumption above the model rating and then do a little detective work. Is the temperature setting too low? Is the door being opened more times a day than the industry standard? If that’s the case, the manufacturer can send the owner tips to reduce the energy bill. Or maybe the sensor shows temperature and usage are normal, but the compressor is cycling too frequently. A remote software update to reduce compressor cycles and a note to the customer could solve the problem.

2. Improving warranty costs and service contract profitability

Identifying issues in small subsets of the product population is a key to improving quality for diverse issues. Connected device data allows the detection of ubiquitous issues even more quickly and accurately. As the result, issues are contained proactively and customer dissatisfaction is prevented.

3. Ending scrap and rework

The analytics application to data as it streams off production equipment sensors would allow manufacturers to sense and predict output variation.  In a networked manufacturing environment (a.k.a M2M), the machine can communicate its output variation to downstream equipment, which automatically makes adjustments to ensure the final product is within specifications.

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4. Reinventing the service contract

Sensors help determine the right time for service.  By properly analyzing the informations, companies can design service contracts that make money for the organization and save money for the customer. This service contract can be beneficial for both parties.

5. Out-innovating the competition

Product managers and designers have relied on sample data through interviews, surveys, focus groups and teardowns. With sensors embedded in everything that leaves the factory, it will make identification of users new segments easier. This will lead to new segments and new features to create more value for customers, increasing customer loyalty and revenues.

6. Developing new business opportunities

Surely, connected devices will reshape manufacturing. But sensor data doesn’t do any good without an analytics platform to help make sense of the data. This platform needs strong data management capabilities, querying options that a business user can manage, and (where appropriate) live event streaming that does the analysis as the data is collected avoiding the need to store and organize it.

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Just like traditional data sources, IoT data alone is not valuable. To provide values, an ability to take away insights exposed through the data and then act on it, are needed. Analytics is the key to unlocking the data treasure chest. The ability to identify hidden patterns, predict future events, forecast usage and costs, and derive insights makes analytics invaluable.

Source: Industry Week

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