Issue link: https://industrialengineer.epubxp.com/i/777540
46 ISE Magazine | www.iise.org/ISEmagazine The industrial IoT can monitor critical machinery First, many different critical opera- tions can be monitored to reduce down- time on a factory floor. Second, these critical operations generally are so big that the monitoring cannot be done ef- ficiently by visual inspection only. By monitoring several machines all on one dashboard, all parts of a factory can be seen together on one screen. Pumps are the lifeblood of many in- dustrial processes. Without pumps oper- ating at their peak, valuable production capacity is lost. Continued wear and tear can lead to unexpected downtime. Monitoring industrial pumps or smart pumping systems for cycles completed, unexpected vibration or high tempera- tures can indicate unusual operating conditions that could foretell a problem. This allows for a service technician to be sent before the operation is shut down completely. Especially in motors and other man- ufacturing machinery, measuring vi- bration can be a strong indicator of an upcoming problem. As the vibration in devices continues to grow stronger, it can mean that a device is dangerously close to failure. Catching this change early enough in the process means that a service technician can be dispatched to the site to fix the problem before a com- plete breakdown. Fluid and flow also are important to many industrial processes. A pres- sure drop across a valve could indicate a ruptured seal, while a pressure increase could signal a blocked filter. A higher temperature could mean a problem somewhere in the production process. Having these data points means that a problem can be solved before there is a loss of quality in your products or a shut- down on your factory floor. Temperature and humidity can mean many different things for different appli- cations. Perhaps food ingredient supplies will spoil if above a certain temperature. Maybe crops will grow mold if the en- vironment gets too humid. A motor will stop functioning if it gets too hot. Throughout all of these scenarios, IIoT assets can gather this data and alert your workforce to a problem through preset parameters. New business models will abound With the IIoT, there is an extension far greater from being a good partner or vendor to tying business value to mea- surable-based performance outcomes. Theodore Levitt, an American econ- omist and former professor at Harvard Business School, captures this concept in his quote, "People don't want a quarter- inch drill. They want a quarter-inch hole." As speaker, author and blogger Joseph Barkai wrote in his recent book The Outcome Eco omy, companies create value not just by selling products and services but by delivering complete solu- tions that produce quantifiable business outcomes for customers. It's important to note that the value of the IoT does not come from connected devices, but rather from the ability to extract, mine, organize and influence action from the information stemming from connected device data. The rubber will hit the road for all the companies designing expensive technology solu- tions that don't deliver concrete results. The ones that succeed will create new billion-dollar entities. Organizations will be able to argue their value statisti- cally, offering data to back up previously empty slogans like "I guarantee it." New business models will emerge be- cause of the outcome-based approach to doing business. We already see the sub- scription and membership economy be- coming a dominant model and the Holy Grail in terms of recurring revenue with companies like Netflix. Software as a service (SaaS) is morphing into things like sensor as a service (SeaS). For scrappy independent business owners, considering this shifting land- scape and embracing it could lead to significant gains and huge disruptions in their industry. Da armoluk is a ter et of thi gs busi ess developme t executive for ATEK's Asset- Sca . Yarmoluk has a tech ical backgrou d i origi al equipme t ma ufacturer product desig ith batteries, chargers a d se sors.