Ubiquitous connectivity, cheap data rate, reduction in sensor price, reduced cloud commute and data storage cost, availability of massive data from operational technology, device sensors and enterprise systems etc., are some of the key catalysts that are making IIoT a reality.
Geo political instability, trade wars, fluctuating price of commodity, etc., further adds to challenges. Customers are demanding greater experience. They are no longer loyal to one brand. Global players entering the market and startups offering better services at the cheap rates, are further beefing up the competition.
The need of the hour for businesses is:
• How do they increase the topline by identifying customer needs and offering personalized products and services with faster turnaround and consistent quality?
• How do they innovate with business model to generate new revenue stream?
• How do they adopt sustainable business practices to contribute to the environment health and safety objectives, and increase brand value?
• How do they embrace technology advancements and infuse them in the processes to achieve all of the above?
IIoT for Business
Predictive analytics applied on these data can help pre-empt the equipment condition and reduce the unplanned downtime and production loss. It can also help produce consistent quality of product by providing early indicators of product defect to reduce rejections, rework and warranty claims.
Denne historien er fra November 2019-utgaven av DataQuest.
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Denne historien er fra November 2019-utgaven av DataQuest.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Cold-Pressed AI Juice - Is That Bottle Here? Is It Worth It?
Compressing AI models has been both an adventure and a formidable next-inflection-point in the many curves of AI innovation. Can we look for options better than, and beyond, erstwhile approaches like pruning and SLMs?
Indian Research: Far from a bouquet of ORCIDS yet. Why?
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The Big Five in a Technology Safari
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India's Quantum Bet - the Dark Horse Who Eats Dark Chocolate
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Quantum Leap or Quantum Leap of Faith? Indian Industries Dive into Infinite Possibilities!
India is on the brink of a quantum leap, as industries from finance to healthcare begin to explore the transformative power of quantum computing. With the capability to perform calculations at speeds unimaginable with classical computers, quantum technology is not just a futuristic concept-it's becoming a practical tool for solving today's most pressing challenges and unlocking new opportunities for growth.