A recent discussion from SPE Precision Extrusion Topcon in Nashville.
Proven Industry 4.0 technologies are yielding significant benefits to companies that adopt them. However, many companies are struggling to embrace these technologies and according to BCG (2021) of the 72% that believe there is value in data excellence only 17% identify they have realised real value. Why? We believe this due to the approach being taken towards such projects.
Key Value Drivers:
We believe initially identifying the key value driver in any IIoT (Industrial Internet of Things) project is key to delivering true value from such projects. Key Value drivers ensure data is then only sourced based on this true north that stakeholders have agreed too. Once correct data is identified it is then contextualized, actions derived for the organisation that leads to the real value being delivered. In this way we believe IIoT projects are more people projects than tech projects.
People Focus not Tech:
People are at the heart of realising more value from these projects. Mindset is also essential for such projects; treat such projects as organic – let them evolve. The initial focus and architecture will change as buy-in happens across the organisation and new value may emerge from the digital transformation journey.
We have identified 5 Key considerations in executing your IIoT solution; Data Modelling, Data, Security, Platform; DIY vs Rapid Development and Connectivity & Interoperability.
Real Case Example:
In executing our IIoT solution; Insight: A real-time performance management platform for plastics producers, we have connected existing devices from the factory floor directly to a cloud platform to produce relevant, real-time accurate information for our clients. Insight can be used for Realtime Monitoring, Remote Diagnostics & Service, Yield Optimisation & Realtime Inventory Management.
In Insight we have developed a solution utilizing best in class providers, including PTC Thingworx & Microsoft Azure to deliver a robust multi-staged back up data strategy. This gives our solution the ability to connect to any device on the factory floor irrespective of vendor or generation.
To find out more or discuss your IIoT requirements with TSM please email [email protected]
Or alternatively, click the link below to download our slidedeck for an in-depth read on the subject.