The Internet of Things (IoT): the buzzword of our times. The concept of the vast network of interconnected devices, from those in our homes to the ones in our pockets. But if we think about it, companies aren’t using IoT just for fun gadgets; it’s actually serving many businesses and changing the way they work. IoT has actually enabled a whole new world that’s truly improving thanks to the amount of connectivity. For example, think of activity trackers that improve your health, or connected home electronics that reduce energy consumption. Despite how much it already helps us, how can IoT go even further?
This article will explore what further possibilities can be explored by IoT. We’ll highlight a couple examples of businesses that have made the leap to combining advanced analytics and IoT, while in the process applying it to real-time production. Hopefully, these stories inspire your company to follow in their innovative steps.
Taking IoT to the Next Level
The first purpose of IoT is for devices to interact with the world in order to create value, as well as to measure elements that we hadn’t had the possibility to measure before. Although most of us directly think of cool gadgets like Fitbits or smart home devices, there are many developments happening within companies that seem invisible to the outside world. IoT has allowed companies to move to a new way of doing business by applying it to various processes in order to enhance productivity and efficiency. This huge amount of data can be collected and, therefore, used as a base to make new innovative decisions.
Combining IoT with advanced analytics takes it to the next level by bringing more insight on trends, and giving an opportunity for perfecting the business. Let’s take a look at some case studies of companies that have made this leap:
How Can You Improve Your Soccer Team?
For a first case study, let’s look over a Swiss sports company that develops wearables for athletes of various sports, in order to track and analyze performance. The way they use analytics behind their IoT product consists of the following: each soccer player wears a tracking device that measures speed, sprints, acceleration and goal distance, to name just a few, during every game. These measurements are displayed in several dashboards developed with icCube, a solution that turns massive amounts of data into useful insights. Performance metrics can be compared between players, and movement is analyzed through heatmaps as an overlay on the actual soccer fields.
Several advanced calculations are made in order to see the data in various ways, therefore detecting areas for improvement. The dashboards are used by the trainer and club to help their players improve their skills, as well as to enhance tactics and strategies. This goes beyond the analytics seen on the TV during games. It aids future training approaches by carefully studying each game, as well as several historical games, at once thanks to cross analytics.
Act Fast on Issues with Live Monitoring!
In order to better illustrate various scenarios, let’s take look at a completely different example: a railroad company in the UK. The company combines IoT and operational business intelligence by using icCube to monitor train issues, in order to quickly and effectively act in case of a breakdown. The company chose icCube because, among other requirements, it has the ability to connect to on-demand custom data sources, such as the sensor data files and the MetOffice database that provides local UK temperatures. Armed with this information, employees can take immediate action in case a heating/cooling, engine or electrical issue, among many other possibilities, occurs. They can be sure they’re addressing the right issue as well, thanks to reports that are automatically refreshed and directly connected to live databases. The top management department is also able to compare these values to historical data, at which point they can conduct advanced statistical analysis to evaluate if the issues could have been expected and avoided. The security of passengers is therefore highly reinforced by this real-time monitoring system.
In the digital era that we find ourselves in, we have a constant craving for technology and innovation. Therefore, companies should explore how to use the latest innovations to enhance their business. The beauty of mixing analytics and IoT is that it can be applied to the majority of industries, and for those where it still hasn’t yet been applied, it’ll eventually come. It’s simply a matter of time and imagination.