In these times, there is no doubt that the advancement of digitalization in industry makes possible connected products and processes that help people, materials, energy, plant and equipment to be more productive and efficient. The repercussions for business processes should impact both the economy and the environment. This article covers various experiences and case studies […]
Read more →![[White paper] How to determine the economic value of your data](https://iiot-world.com/wp-content/uploads/2020/03/shutterstock_134150393-e1585678416269.jpg)
The importance of data has changed over the years. Initially, data was just the “exhaust” from an organization’s On-Line Transactional Process (OLTP) systems. However as the volume, variety and velocity of the data grew over the past few years, the economic value of data has been transformed by the big data phenomena [1] that has […]
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Most organizations lack a methodology for determining the economic value of their data and analytics. But Data and Analytics are unique economic assets that not only never wear out, but they actually can appreciate, not depreciate, in value the more valuable they are used. Learn how your organization can embrace a systematic approach to build out your […]
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Digital transformation of the global workplace has impacted every aspect of the way companies do business. Much has been made of how smart, connected technologies are working behind the scenes to ingest, blend, and analyze data 24 hours a day, empowering companies like never before to form closer relationships with their customers and partners, gather market […]
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The energy industry is entering a new era, triggered by the relentless rise of renewables, electric cars and smart grids. And like previous industrial revolutions, technology – and the willingness to embrace it – will determine the winners and losers. Over the past decade, the greatest disruptor in the energy industry has been the unlocking […]
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When it comes to suggesting the best storage option for IoT big data, there’s a divide in the industry. Some say the next IoT revolution won’t happen in the cloud, it’ll happen on the edge. Following that trail of thought some enthusiasts (myself included) suggest that Hyperconverged Infrastructure (HCI) will offer a good storage option […]
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Machine learning enables organizations to harvest a higher volume of insights from both structured and unstructured data than they could otherwise accomplish with traditional business intelligence solutions. 1. A New Dimension in Predictive Analytics In today’s economy, all business is becoming data business. In a study conducted by Forrester Consulting, 98 percent of organizations said that […]
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With the arrival of the Industrial Internet of Things, manufacturers are finding themselves at the forefront of fast-moving, disruptive and revolutionary change. Among other things, this change is quickly introducing components for the creation of a smart factory. The concept of a smart factory uses “smart machines”, or IIoT enabled equipment, to drive enormous improvements […]
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Prior to taking important financial decisions, it is common practice to investigate current tools and make some calculations to find out alternatives with the best returns on investment. Though deep analyses are not always made, fundamental economic indicators such as exchange, interest and inflation rates are taken into account at the least. When it comes […]
Read more →Equinor’s LNG facility on Norway’s Melkøya Island cools natural gas from the Barents Sea to minus 160 degrees Celsius, fills it into special tanks, and delivers it to ports around the world. To do this work, it particularly also uses digitalization tools from Siemens. Whether competing in swimming, gymnastics or track and field, athletes have […]
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Make sure your Connected Machine/Equipment project delivers real value – for you and your customer. You want to connect your units in the field for an enhanced customer value proposition and an improved Services business case? There are many ways how your customers benefit from connected enterprise assets. Less downtime/higher utilization, insights into usage and […]
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IoT is driving the next industrial revolution. But hackers now see the supply chain as an easy target. The challenge: to mitigate the risk and drive more efficient, connected production, but without neglecting to invest in security and training – a topic very much in focus on the agenda at Internet of Things World in […]
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