Tag: IIoT

  • How Can Organizations Derive True Value Out of Their Data?

    How Can Organizations Derive True Value Out of Their Data?

    Across industries, organizations do spend a lot of time, analyzing the data that is generated on an ongoing basis. Most of this analysis happens post-facto, and not in real time, and decisions made based on the data usually have a significant lag in implementation as well. In this age of the all-consuming IoT (Internet Of Things), what if the data can be available in real time and decisions can be based on powerful analytics and reporting tools, which can save you millions, improve stickiness with the customer by providing better customer experience and enable monetization through new revenue streams.
    It is hard to find any piece of equipment that can’t be hooked up to the all-consuming IoT. Several of these devices are low cost and they also add low value, unless organizations find a way to capture and leverage the created data. And these devices, by their sheer number, are generating huge volumes of data. How many organizations will have the required infrastructure to capture or analyze this information? or the people with the skills to determine how best to leverage this data to drive real business value? This IoT enabled data revolution is not just about finding ways to drive business efficiency or improve customer service; it is about creating data streams that underpin new collaborative business models and can be action-ably monetized.

    Driving the Data-driven Experience

    Of course, many organizations have been capturing machine data for years. Telecom assets, O&M companies, for example, have fault information about their various assets, especially energy assets. Today sensors are helping them to automate corrective maintenance right from placing a call to a technician to monitoring need of resources like Diesel etc This is helping businesses to outperform with respect to the SLAs, that they have with Telecom service providers
    Same fault information can further be analyzed and integrated with preventive maintenance plans and schedule to further improve up-time of telecom towers. Predictive analytics by integrating operating conditions, environmental conditions and basic faults logs can deliver better up-time of telecom assets
    Current health status of various assets is valuable information to OEMs (Original equipment manufacturer) who are interested in either negotiating AMCs or wanting to replace parts or entire assets. O&M companies can very effectively monetize this data and analytics by establishing business collaboration with such OEMs.

    Understanding Value

    Of course, with so much potential for the IoT driven information and so many different areas to explore, it is tough for companies to priorities and understands how best to drive value from this data. IoT is not a magic bullet; nor is big data analytics. And only a tiny minority of the very largest companies can justify a multi-million-dollar investment in the infrastructure, tools and analytic skills required to understand and prioritize the new business opportunities.

    This is why the cloud analytics model is so compelling – from the investment in secured cloud infrastructure globally to the creation of dedicated analytics tools designed specifically to handle and drive value from vast data volumes. Organizations now have the chance to embrace IoT and explore these new data resources with minimal investment – opting for a monthly fee model to gain access to both the technology and data experts required to help prioritize activity and identify new data-driven data streams.

    Conclusion

    IoT is revolutionary, but not in the way perceived by many organizations today. Organizations that have never considered the chance to monetize their data now have the opportunity to mine these rich new data streams. Indeed, many of what have traditionally been core business processes could soon be superseded in value by the demonetization of IoT provided information.

    The challenge for organizations is not about simply slapping sensors on every piece of equipment but to actively look at the new data streams that will be generated and their potential value, both within the business and to third parties. It is those companies that explore cloud analytics, which begin to think differently about the way data is used and actively embrace the new collaborative world that will gain huge potential value of IoT, from new business processes to entire new data-driven revenue streams.

    Nitin

    Nitin Tappe

    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.

  • How Predictive Maintenance Can Earn You Dollars?

    How Predictive Maintenance Can Earn You Dollars?

    Across organizations, it is common to see curtailed capital expenditure spending predictively, especially on expensive assets. With ‘everything as a service’ models becoming rampant, at several places, these capital expenditure items are already making way for working capital per month costs or per usage costs. Whichever way you look at it, it makes sense to exploit and fully utilize expensive assets. Downtime can be expensive, in pure play terms as well as based on the impact it may cause to the overall activities.

    To prevent downtime, predictive maintenance has been around for quite some time now. In most instances, though predictive maintenance is done post-facto when the asset is brought in for servicing, or it is already causing some problems. Leveraging Internet of Things (IoT), a lot of this predictive maintenance can be on-going and can ensure higher utilization and availability of the asset. Today predictive maintenance is all about detecting the problems & errors before they occur. Traditional business intelligence (BI) is no longer enough.

    Today there are a number of products & tools providing real-time analytics. These comb through vast quantities of data and finds outliers all at rapid speed, providing businesses with greater insight without the usual time delays. The promise and potential are huge. Several manufacturing industries like automotive, off-highway, industrial equipment are starting to link this vision of fully automated factories.

    Managing up-time challenges for a manufacturer of off-highway vehicles – A case

    For a company manufacturing off-highway vehicles and forklift trucks, managing up-time of these vehicles was never an area that they were directly involved in. But with customers expecting high up-time, it was critical that they got in and worked on a solution that would minimize downtime for its customers. This meant additional cost and planting additional electronic devices, which will track and monitor key performing metrics of the vehicle. But the value that this created for the customers was huge. Based on the parameters captured, data was analyzed at the back end and service reminders were created for the customers as well to the nearest service center. Based on this, the vehicle could be brought in and refurbished without causing any unplanned downtime.

    Reducing downtime of machines, apart from saving a lot of time is synonymous with creating more revenue opportunities for the organization.

    In Summary

    We agree on one thing though, that for most organizations, the path is not entirely clear. Depending on organization policies, there may be security concerns, challenges over what data should be sent and collected and of course bringing in some standardization among different locations.

    Knowing that machine is going to have a problem, being able to prevent it before it occurs, or before the problem has become severe, is something that will definitely increase the productivity of every machine. When all of your machines are running on 100% productivity, it’s an ideal situation.

    Nitin
    Nitin Tappe After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.
  • A Practical look into Remote Monitoring using IoT!

    A Practical look into Remote Monitoring using IoT!

    When it comes to maintenance, it offers the ability to create a clear and concise program for organizing equipment maintenance data and using remote IoT to make informed decisions that can pay immediate and long-term dividends.

    Automation

    Automation can streamline maintenance and record keeping activities, aiding information gathering and thus making decision-making easier and faster. Automation tools can be used to schedule maintenance alerts, which significantly reduces the effort and time involved in a traditional data collection process and associated cumbersome paperwork that is used to trigger preventive or corrective maintenance.

    Business owners and fleet managers no longer need to make job site visits and phone calls to obtain basic data such as engine hours, fluid levels or operating temperatures. In addition, the information gathered is more accurate based on a steady flow of real-time data and the elimination of handwritten notes and associated paperwork.

    Remote monitoring gives ability to track the health of the equipment and detect problems associated with temperatures, pressures, Vibration before they blossom into unnecessary expenditures and downtime.

    As an example, data could reveal that a machine needs an oil change sooner than recommended by the manufacturer based on the type of work the machine is involved in. Conversely, a machine might not need to be serviced as frequently as another machine based on the work it does.
    Further, automated alerts can reduce the reliance on equipment operators to intervene and alert the maintenance team about items that need attention.

    For instance, the owner of a machine on a demanding project in a hot climate might set up the program to keep tabs on the machine’s operating temperatures. If the temperatures climb outside acceptable limits, the program can alert the maintenance team, or the dealer who services the equipment.

    Connecting device gives IOT ability to mine a rich history of information to improve maintenance practices. Some systems can gather information from as far back as 18 months, or even longer if it’s regularly downloaded and stored. With historical data, users can spot trends that point to potential problems.

    Fuel usage Monitoring is a good example, if the data reveals a spike in fuel consumption for a given machine it could be symptomatic of an issue that demands further investigation.

    Investing in the business

    Having a keen understanding of operation characteristics of machines and operators over time allows users to flag issues that appear out of the ordinary, and in the process, minimize potential maintenance headaches before they strike.
    The ability of IoT to deliver tangible efficiencies and costs savings when deployed for Remote monitoring is well proven and provides an excellent return on investment. But like any investment, the decision whether to adopt Remote Monitoring using IOT demands a hard look at the technology from every angle to ensure it benefits the business.

    Nitin

    Nitin Tappe

    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.

  • 5 Questions You Need To Ask Before Choosing An IoT Partner

    5 Questions You Need To Ask Before Choosing An IoT Partner

    The journey from conceptualizing to implementing any Internet of Things (IoT) project is an arduous one. Even though many companies start out thinking that developing an IoT solution is a onetime affair, it is rarely so. As the technology landscape evolves, existing solutions continually call for the need to evolve and upgrade with the changing times.

    Hence, choosing the right development partner in this continuous journey right from the beginning is critical in terms of ensuring agility of processes, the efficiency of resources and ending up with successful project outcomes.

    Given this reality, it’s pertinent to ask the right questions to choose the most appropriate IoT partner for your project. On that note, here are 5 questions to help you make a good decision –

    Do they have the requisite knowledge and experience to do “your” job?

    When investing in building an IoT solution, you’ll ideally want to trust someone only with the desired experience and expertise, specifically related to your own specific requirements.

    While assessing any service provider, you should find out if they have a portfolio that reflects a history of creating capable solutions at the enterprise level. If they have worked in your industry segment it can be a big plus for you. Even if they haven’t, as a single company may not have experience in all industry verticals, you can examine their approach, for that might mean a lot in terms of demonstrating their capabilities.

    It’s also relevant for you to check how proficient they are in terms of both hardware engineering and software development, as any IoT solution essentially covers both these aspects. Knowledge of software development is important, but the ability to tackle the hardware engineering aspect cannot be ignored. Good knowledge and experience in both are critical in terms of influencing outcomes positively.

    Ideally, it’s best if you choose a provider that is experienced and provides a one-stop solution, across all your needs. Such a choice would imply efficiency, both in terms of execution and costs over the long term.

    How flexible are they?

    In addition to the technology fit, it’s very important to look out for flexibility in your IoT partner. You must attempt to find out how much the provider is willing to align their solution with your legacy architecture and whether they’re agile at implementing.

    Ideally, you should try to look out for one that is willing to use the technology you already have, and the devices and tools you prefer. It also makes sense to check if they agree to provide a customized or personalized solution in sync with the other aspects of your company’s infrastructure.

    Another filter you can apply here is to check whether they lock you in with proprietary technology. It’s only intuitive to avoid such providers from a future point of view.

    Do they have the ability to scale up as your needs evolve?

    As your solution propagates in the market, which is under constant evolution, your solution will naturally need to upgrade over time.

    The right IoT partner will be the one that demonstrates the ability to scale up and help you manage changes seamlessly. You might need to add new features or devices, and this must not imply reorganizing your entire solution.  Completely discarding your existing solution or turning to multiple third parties at a later point will only throw in unnecessary inefficiencies, delays, and unexpected cost escalations. Hence, it’s necessary to engage with an IoT partner that is capable of scaling up as your solution evolves.

    Moreover, you also need to be sure of their ability to work and manage your projects remotely.

    Are they trustworthy in terms of ensuring data security?

    Given the dynamic nature of the IoT environment, robust data security can be easily regarded as a non-negotiable requirement. The environment must be controlled, protected and have robust security mechanisms.

    Hence, you need to ensure that you only shortlist the provider who knows how to address and incorporate encryption of data, protection of your device and security mechanisms for device and cloud storage.

    The fact is that the end-to-end process of developing any IoT solution is multilayered. It covers the technology stack, devices, data collection, storage, and transmission, connectivity, cloud services, and much more. Any partner you pick needs to demonstrate thoroughness in this entire process and its components to avoid possibilities of data security breaches. You should also review their security audit process and tools.

    What is their cost structure like?

    All said and done, usually budget is the final deal maker or breaker when it comes to arriving at a decision. Taking the last call on the basis of a blended, ballpark cost estimate without a detailed breakup is incomplete information to make a budget based decision.

    It’s only intuitive for you to ask for a detailed quote. This will ensure that you have an apple-to-apple comparison between the different service providers. Also, the budget can never be the only decision point. You should be prepared to pay a premium to get a reliable and robust solution provider. This can save you significant headaches at a later date.

    With these considerations in place, you’re likely to pick a service provider that does justice to your project, time and resources.

    Our Services

    Digital Twin Platform | Healthcare Software Development | Solar Energy Analytics | Digital Product Development

    Nitin
    Nitin Tappe After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.
  • What Will it Take to Realize the Promise of IoT

    What Will it Take to Realize the Promise of IoT

    IoT Why now? What’s new? : Did you know the term “Internet of Things” (IoT) was coined way back in 1999? Some of the key elements of IoT have been around for a pretty long time. Oil fields, for instance, have had 1000s of sensors for quite some time. SCADA systems have been around since the 1960s. What’s new is the ability to connect billions of sensors/devices to the Internet. What’s new, is the ability to analyze petabytes of data streaming in from these devices, and then to drive decisions. Also what’s new, is that devices have become a lot smarter with better processing capability and lower cost. The convergence of these developments has created a powerful mix. So much so, that IoT is expected to drive the next Industrial Revolution – Industry 4.0. The convergence has also created a powerful set of expectations. So much so, that IoT sits right on top of Gartner’s Hype Cycle.

    Is it overhyped?

    Near-term value: Over the next 3-5 years, IoT will definitely transform certain processes across some industries/environments

    Inhibitors: However, significant hurdles will have to be overcome, to quickly cross the “Trough of Disillusionment”, and realize the full potential.

    Monetization: A lot of value will come from integration, and novel business models will be needed to share this value equitably amongst the participants.

    Near-term value

    IoT indeed is for everyone. It is useful to think of a maturity model for IoT. Wherever you may be on this model, chances are there is some implementation / upgrade that will be appropriate for you in the near future.

    The maturity of IoT adoption and the ability to move to the next level will govern the near term value created. E.g. the monitoring phase is mature in the process and manufacturing industry, and the near-term value for them is how quickly they can climb to ‘Predict’ and ‘Optimize’ levels.

    The macro-economic environment also has a direct impact on the value delivered. For instance, in developing economies, implementing a simple monitoring solution (e.g. monitoring water transportation from a reservoir to tap) can give huge benefits and value, as compared to same in developed economies. At the same time, developed economies can harvest value by implementing predict / optimize the solution for their existing monitoring solution.

    Inhibitors

    Hurdles around sensor/device costs, system security, and organizational structures, while non-trivial, will get addressed sooner – driven by the economics of IoT. Hurdles around data ownership, interoperability and infrastructure will be more complicated to overcome, and could hold back IoT from delivering its promise fully.

    Data ownership and privacy: These topics have been debated in the context of social media – does the data belong to the user, or to the platform provider, how much can be shared, with whom etc. Fresh debates will arise in the wider context of IoT, when an enterprise gets connected with its suppliers and customers more seamlessly. These debates may have to be resolved case-by-case and hence may take a while to settle down.

     Interoperability: The current phase of “” will lead to robust and scalable solutions in the long run. In the short run however, the explosion of point solutions and even of platforms, can lead to severe interoperability challenges. While industry consortia like the All Seen Alliance are working on evolving common standards, the challenge is unlikely to get resolved in the short run.

    Infrastructure: Many use cases require a level of infrastructure that does not yet exist in developing economies. The “digital divide” has reduced but is far from gone. There are regions that still don’t have electricity. Internet penetration rates in Asia and Africa are still less than 40%. Where access exists, speed and reliability is often lacking. It is no wonder then, that as per OECD’s 2015 report, variation in the number of online devices per capita is not a few percentage points, but is in the range of 3x – 5x!

    Our Services

    Digital Twin Platform | Healthcare Software Development | IoT development services | Digital Product Development

    Nitin

    Nitin Tappe

    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.

  • Realizing The Vision of Industry 4.0 for Discrete Manufacturing

    Realizing The Vision of Industry 4.0 for Discrete Manufacturing

    Background:

    Our client is a part of the injection moulding industry, a 150 billion industry and growing fast. Injection moulding is the most common method for manufacturing plastic parts and is used in a variety of applications including automotive, packaging, furniture etc. Typical manufacturing plant may have 20-150 moulding machines. Large companies have multiple plants spread across a country and even internationally.

    Business Challenge:

    ‘Increase the Operational efficiency and achieve the Overall Equipment Effectiveness by 90%’

    1. Though the industry is growing, managing and improving operational efficiency continues to be a challenge. In most production plants, because of custom requirements from clients, the machines must constantly switch from one part to the other, which means that there are frequent down times involved for mold changes times.

    2. Availability of material is also frequently an issue, which leads to machine down time. Besides this, there are also maintenance issues which lead to machine down times. All this pulls down the production efficiency by quite a bit. The throughput finally achieved is further reduced due to high part rejection. The combined effect of all these inefficiencies is that true Overall Equipment Effectiveness (OEE) is not even 60%.

    Unavailability of reliable and real-time data is one of the biggest hurdles in driving efficiency improvement. Traditional ERP systems have not been able to deliver the required data and information. Hence many plants have gone back to spreadsheet-based management, which has its own limitations.

    Know more about how Pratiti delivered the solution as required by the client and the Benefits, fill the form to download the detailed case study,

    Download The Case Study

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      Nitin

      Pratiti Technologies

      Pratiti was founded in 2015 to help global customers realize their innovations faster. Cloud technology, Artificial Intelligence, IoT and Mobility technologies driving disruptions in all businesses globally. Pratiti is becoming a partner of choice for technology partnership for outsourced product development (OPD) for Startups as well as Enterprises.

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