The IoT Revolution is picking up speed and as it does, it is changing the manufacturing world forever. The Industrial Internet of Things (IIoT) brings together machines, advanced analytics, and people . It’s the network connected assets and devices by communications technologies that results in systems that can monitor, collect, exchange, analyze, and deliver valuable new insights like never before. These insights can then help drive smarter, faster business decisions for manufacturers.
Despite the undeniable impact IIoT is having on the manufacturing sector, how seriously are manufacturers about moving forward with IIoT implementations and what do their IIoT roadmaps look like? Look no further than the findings from Accenture's latest IIoT trend study (Digital Industrial Transformation with the Internet of Things, 2017):
Aside from the above insights, of the many manufacturers that are in pursuit of digitization, a large number of these projects are unlikely to succeed according to a 2017 Cisco study finding 74% of companies that begin an IoT initiative fail. More often than not, projects go over budget, deployment times run long, interoperability issues occur across legacy platforms or planning and resources aren’t allocated appropriately, leading to their cancellation. This failure rate has lead to a greater hesitation for manufacturers to embark on their digital transformation journeys.
To build a successful roadmap to digital transformation, having the right pieces in place, setting reasonable expectations, and a dedication to project initiatives may be the best approach to applying Industrial IoT technology. We often talk to companies who have predictive and preventative aspirations but who still don’t have machines networked, the necessary IT infrastructure to capture and aggregate machine data, or the internal organizational resources required to decipher the data and implement continuous process changes.
Thus, like any good action plan, it’s all about the preparation. Here are a few areas of focus for any company to consider when readying themselves for digital transformation.
Finally, once you've readied your company to start your journey, it's essential to avoid the many pitfalls made by previous teams who were unable to move their IIoT implementations past POC. According to Cisco's Scot Wlodarczak in his article entitled “Don’t Let Your Industrial Internet of Things Project Fail” , here are a few tips to optimize your chances of success:
Remember, digital transformation doesn't happen overnight, it's a journey. Getting from today’s practices to tomorrow’s cannot be done in one giant leap; it is an evolutionary process. Readying your team's capabilities and learning from the mistakes of others will best prepare your team for a successful implementation. Still hesitant? Don't worry. Most companies don't take this journey alone, and will partner with those that have the expertise to help them along the way. MachineMetrics was designed to help companies overcome the challenges along the digital transformation journey and to advance forward from reactivity, to proactivity, and to predictivity. We've simplified IoT for the shop floor and are empowering manufacturers to develop their roadmap toward manufacturing excellence with the easiest to use and simplest to integrate software on the market.