"One of the myths about the Internet of Things is that companies have all the data they need, but their real challenge is making sense of it." Chris Murphy, Editor, Information Week
Internet of Things (IoT) refers to an interlinked group of devices and networks with the purpose of communicating via the exchange of data. It is an emerging trend for businesses to utilise smart IoT devices to automate numerous operations on their production line, allowing them the freedom to alter to suit their optimum production needs. A software then employs artificial intelligence to analyse the data collected by these devices as they function, revealing actions firms can take to boost their revenues with maximum production efficiency.
By collecting millions of bytes of data from various sensors, a central monitoring system uses AI and machine learning to analyse and identify potential disruptions and bottlenecks in the production line. This greatly reduces the time and manpower required to monitor components individually, enabling businesses to operate at paramount efficiency.
Achieving 100% Uptime
Compiling these large amounts of data also allows engineers to track all processes at a glance and therefore make more informed decisions, giving rise to opportunities for preventive maintenance and reducing the chances of production downtime.
With the automation of production, businesses are in full control and can track each part of the manufacturing process in real time. Defects can be immediately identified and removed. The reduction of human input also lowers the risk of firms facing setbacks due to human error.