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 result 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.
Of the many manufacturers in pursuit of digitization, a large number are unlikely to succeed. According to a 2017 Cisco study, 76% of companies that begin an IoT initiative fail. So what’s the key to Industrial IoT success?
This presentation will explore how to achieve success into Industry 4.0, taking on topics like Industrial IoT, manufacturing analytics, predictive maintenance, and how to start applying the latest and greatest technology to your operation to get results now. To build a successful roadmap toward digital transformation, having the right pieces in place, setting reasonable expectations, and a dedication to project initiatives is the best approach. And, like any good action plan, it’s all about the preparation.
- Learn the top reasons why new technology projects fail
- Create a plan to build a roadmap to IIoT implementation
- Apply the latest and greatest technology to your operation successfully
Why Is It Important?
Despite manufacturing being the largest industry in the country and producing perhaps the most raw data, it has the least amount of digitization. While Industrial IoT tech was developed to solve this problem, of the many manufacturers that are in pursuit of digitization, Cisco reports that 76% of Industrial IoT implementations have failed.
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.