The Internet of Things is an enabling technology that provides data from sensors which are deployed in an informed way to measure critical points of a company’s business process.
Example business processes where IoT delivers value:
- Sensors measuring the performance of components within white goods, including failure points within the machine and indicators of maintenance needs
- Sensors deployed in Smart Meters to track utility consumption and provide billing data
- Sensors to measure water flow and temperature to prevent burst pipes, identify leaks and provide legionella compliance records
- Sensors to track company assets to ensure greater levels of customer service, control of lost/stolen assets and monitoring of asset status (e.g. temperature and orientation)
While the use cases are endless (pretty much anything can be measured these days!), Enterprises are questioning the real-world, tangible benefits generated from the implementation of IoT technology. Whether it’s the implementation of a new building management system or a transportation energy efficiency initiative, the return on any investment in IoT has to be measurable.
Navigating the IoT supply chain
To achieve the goal of connecting investment in the Internet of Things to business value, Enterprises must first navigate the complexities of the IoT supply chain. While many of the offerings required to deliver end to end IoT capability claim to do everything, very few have the real-world ability to offer sustainable long-term partnership in the supply of solutions.
While the ever-increasing range of IoT devices, sensors, network connectivity and management technologies increase the possibilities for developing automation systems across many use cases, they also serve to increase the complexity and ongoing management of IoT solutions. Regardless of whether it’s building owners looking to automate building operations, or an Enterprises are looking to use IoT sensors to drive environmental improvements; on face value the complexity of IoT can be a barrier to realising reduced costs through systems automation.
From business process automation to business value
For Enterprises embarking on the early stages of Business Process Automation, the effective application of IoT technology obviously involves the automation of traditionally manual processes via the installation and management of IoT sensors. However, it’s only when the data assets generated from these sensors is made available for monitoring and analysis that valuable insights can be generated.
The proof is in the data
Data assets generated from IoT sensors will build to contain performance information of all related business processes. Harnessed effectively, IoT data can be analysed in real time to provide a view of how the Enterprise is performing, along with the ability to drill into the specific issues or opportunities occurring at any time. Ultimately this will lead to truly predictive performance management – i.e. getting ahead of the game so client engagement improves alongside business performance.
A word on IoT lock-in
The nirvana of true data driven performance management comes with a very important requirement: don’t get locked into fixed ecosystems where the choice of what and how you develop your data asset will be limited. A fixed ecosystem could be limited by the choice of connectivity, device, application, or all of the above. Dealing with solution providers and system integrators who are open and able to deal across device, network and application, alongside the infrastructure to underpin this capability, will ensure that all company data can be standardised, portable and easily accessible regardless of its source or technology.
As an open Enterprise IoT platform, Daizy is compatible with thousands of devices, connecting over NB-IoT, LTE-M, LoRa WAN and Sigfox networks. Daizy provides an intuitive management system for IoT projects and delivers standardised data directly to existing business systems.
If you’d like to find out more about how Daizy can help you reduce costs, accelerate your IoT strategy and futureproof your technology investment, we’d love to talk to you!