Bill Bither, Co-Founder and CEO of MachineMetrics, had the opportunity to speak at FirstMark’s Hardwired NYC event. In this visually stimulating presentation, he focuses on Industrial IoT- how it works through edge connectivity and how the data collected closes the feedback loop, allowing iterations and improvement to the manufacturing process. In addition, Bill explores the analytics journey, where we are today and the future of manufacturing.
“Modern machines can have hundreds and maybe even thousands of data items that we are able to collect in real time.” Leveraging the data that is already being produced by equipment on a factory floor provides powerful insights. Unfortunately, most technology available today is complicated and requires customization. “I don't want to understate how complicated it is to build an edge connectivity system that is easy enough for maintenance technicians to install themselves. A lot of our work has been making this (connectivity) really simple for our customers,” Bill states.
Bill goes on in this video to explain, "...through connectivity, we create a data lake, but ...the real value comes in how the data is being used to drive value." He goes on to walk through the analytics journey, "You want to understand what is happening now, why it is happening, what is likely to happen in the future and the holy grail- what you are going to do about it? Most of the value today is in descriptive analytics (what is happening) because most factories don't even have the basics in place. So, while we are pushing the envelope in the prescriptive analytics, this is where we start."