One of the most popular buzzwords in business today is “analytics.” Regardless of the industry, analytics provide companies with quantitative data about their customers and employees, as well as data on market trends and how risky a new foray may be. When used correctly, analytics help businesses save money in the short-term, and earn more money in the long-term.
However, it has been difficult over the years for businesses to advantageously analyze their equipment or machines. Sure, they can measure how much of an asset certain equipment is to their business, and of course, they can have professionals perform routine inspections in hopes they will be able to determine if everything is running smoothly, or if there are potential problems on the horizon.
Nevertheless, how valuable are those inspections? Do they really help prevent major issues from occurring? How often does human error come into play? At the end of the day, it’s pretty difficult for a person to determine how well a machine is working with their own two eyes.
That’s why the industrial internet can be such a major asset to businesses. Put simply, the industrial internet can serve as a machine’s “voice.” It can alert owners when a part of the machine needs to be replaced or repaired. Alternatively, it could help wind farm owners by creating a structure where wind turbines have a communication system with one another, ensuring maximum performance.
Put simply, the industrial internet helps businesses solve small issues before they turn into big ones, or in some instances, it prevents a prospective problem from ever occurring.
Subsequently, these benefits will allow businesses to save money and increase production. For instance, being alerted that a specific part is faltering provides companies with time to take proactive measures before it stops working all together, allowing them to avoid production delays. In addition, and more specific to the wind industry, a communication system between turbines will surely help improve operations. A tenet for nearly all businesses is to “get out in front of potential problems”; the industrial internet allows you to do just that.
Marco Annunziata, an esteemed economist, recently discussed the countless advantages of the industrial internet, and he argued that a technological revolution is likely on the horizon. It’s well worth a listen, so we recommend you access the video below.
Of course, if you have any general or specific questions regarding how the industrial internet can help your business, please contact Sentient Science today.