IoT: The Need For Clear Data Strategy

Data Strategy - pexels-photo-159888

Equipping the machinery and its spare parts with IoT sensors increase the visibility and predictability of enterprise assets. The variety of sensors covers most significant aspects of equipment operation. To date, you can utilize sensors that will deliver data on humidity, temperature, motion, distance, chemical composition, direction, vibration and the like.  

Businesses always wanted more and more data, but the current stage of technology development that enabled digitalization of almost every physical object shows that more is not necessarily better, especially when we talk about information.

You need a clear data strategy if you want “things” to start working on the first try.

Please make sure you’re covering this points when you compose the data strategy of your enterprise:

  • What are the major enterprise challenges?
  • What specific types of data should be managed from a business viewpoint?
  • Who, when, where and in what way the generated data will be utilized?
  • What are the initial or foremost expectations for data quality and system usability?

The goals and needs of your business, units, and employees you’ve formulated then could be translated into concrete events that have a place in the enterprise and are related to them. For example, if one of your current goals is cost-cutting, you might want to cut unnecessary expenses or loss of commodities. You can utilize sensors that will detect overspending or leakage.

Such sensors will generate tons of data per minute, and you definitely don’t need all these figures. What you need is to establish a threshold, and get timely alerts when the physical system exceeds it or underperforms.

Moreover, you can build a predictive analytical system that informs you about the possibility of trouble before it happens. If you know some “soft points” that are indicators of an upcoming undesired event, you can measure specific data, get the timely alert and take measures.

For example, it is clear that the premature wear of spare parts will lead to the breakdown of equipment. What are the physical signs of wear? Excessive vibration, overheating or thinning? Or maybe your equipment performance is dependent on the environmental factors, and some combination of them (like increased humidity and air temperature) could lead to insufficient functioning or even breakdown?

Identification of such patterns in operational data helps managers to determine the probability of the undesired event and to locate resources in a way that will prevent the embodiment of probability in reality.

All these events could be recorded and reported by sensors through specific applications. And when you know, what exact data you need and how fast, you can start evaluating the solutions that propose the desired functions and be sure that you will start getting ROI soon after the IoT project implementation.

The IoT project implemented on the basis of adequate data strategy can bring you all the advantages listed below:

  • Improvement of resources exploration, production, and processing
  • Reduction of unplanned downtime
  • Optimization of costs for equipment repairs
  • Determination of optimal operating conditions for the equipment
  • Determination of the most reasonable schedule for major repairs and maintenance