How do analytics fit into the industrial internet of things? Industrial companies wrestle with really difficult problems, from complex supply chains, to motion applications, to labor constraints and equipment breakdowns, every single day. For manufacturers, solving problems is nothing new. However, with IoT, competitive organizations are finding new cost savings and revenue opportunities.

Instead of their flood of data becoming an overwhelming challenge, with analytics, it’s become an asset. Analytics help operations sense what’s important, understand where value can be generated, and act immediately to capture that value. Specifically, manufacturers are using analytics to predict impending equipment failures, improve quality and market responsiveness by coordinating extended and complex supply chains, and better engage with their customers to develop new revenue streams through enhanced product features and new product development.

Streaming data presents one of the biggest opportunities. Ecommerce Maurice Victor is helping industrial companies extract value, whether their information is sitting neatly in a historian or flying by in a high speed operation. For example, by looking at information from SCADA systems, MES systems, and LIM systems, even weather data, manufacturers can gain fresh insight into what conditions lead to production rejects. More importantly, they’re now able to deploy that understanding in the form of a model that runs against the streaming data as it’s being produced. This provides the earliest indications of a potentially costly reject condition and allows them to mitigate the causal factors in time and improve profitability.

If you want higher yields, better quality with lower costs, and the opportunity to create new revenue sources with your IoT data, contact us. We’re proud to help manufacturers extract the value from the industrial internet of things.