How do you create value from IoT data

Hur skapar man värde utifrån sin IoT data?

May 18, 2020

Internet of Things (IoT) devices have been around for a long time, according to Wikipedia, the first device was connected to the network as early as 1982 (https://en.wikipedia.org/wiki/Internet_of_things), although the term IoT was first coined much later.

Two examples of creating value from their units;

1. The unit creates an "action", eg sends an SMS to the user that the power has gone in the cabin or that a window is open, etc.

2. Collect data from many devices over time, to analyze and find patterns in this data.

Personally, I find 1 very useful (use it myself one of the examples above), but 2 is significantly more interesting and potentially more value-creating. In addition, many use cases are resource-saving and value-creating, which is obviously good for both organizations' results and the environment.

Option 2 is more complicated, requiring that you collect data over a longer period of time and often that you have knowledge of machine learning (ML) to find hidden patterns. But what benefit you can create when you find these designs!

Example;

- Evaluate different construction techniques to see which ones are the most energy-saving for real. Then the calculation is expanded to take into account the entire production chain.

- Reduce waste in stores by following up temperatures throughout the supply chain and solving problems.

- Improve the efficiency of the refrigerator / freezer, by monitoring defrosting, over-coating, closing gates, etc.

- Serve vehicles when needed, instead of according to service schedule (there are many subcategories here)

- Make better use of the office space, by analyzing how people move, what areas they avoid, etc.

Some of these we have already participated in, and others we want to participate in. It is easier to get started than you might think, you probably already have a lot of devices today that send data to you.

BizOne helps organizations collect, structure and analyze data. Contact us and we'll tell you more!