Industrial

Industrial Internet of Things

Industrial Internet of Things Jonathan Poland

The industrial internet of things, or IIOT, is the integration of machinery and infrastructure with IT services. It is associated with automation, machine to machine communication, decision support and remote infrastructure management. None of this is new to the industrial sector where techniques such as orchestrated automation, remote monitoring and control have been used since the 1970s. However, IIOT is associated with evolving and brand new approaches in areas such as artificial intelligence, predictive analytics and robotics to support challenges in the industrial sector such as mass customization.

Industrial IoT is projected to help organizations gather a wealth of actionable data from their operations, which IF properly aggregated and analyzed, the data helps them better control operations, with the potential to:

  • Improve worker safety
  • Increase production uptime
  • Predictive maintenance
  • Maintain, improve product quality
  • Help ensure regulatory compliance
  • Improve operational efficiencies
  • Accelerate response times

IIOT offers the ability to connect machines and devices in industries such as manufacturing, transportation, oil and gas, power generation and transmission, mines, and ports. However, failure of IIoT can have catastrophic consequences, creating high risk and potentially life-threatening situations. Downtime of other IoT devices may result in inconveniences, but it does not usually cause emergency situations.

Learn More
Fixed Costs Jonathan Poland

Fixed Costs

Fixed costs are expenses that remain constant regardless of changes in a company’s level of production or sales. These costs…

Brand Engagement Jonathan Poland

Brand Engagement

Brand engagement refers to the interaction between a customer and a brand, and can be used as a way to…

Risk Acceptance Jonathan Poland

Risk Acceptance

Risk acceptance involves consciously deciding to take on a risk, often because the potential reward outweighs the potential negative consequences…

Service Level Objective Jonathan Poland

Service Level Objective

An service level objective (SLO) is a standard used to measure the performance of a business or technology service. These…

Product-as-a-Service Jonathan Poland

Product-as-a-Service

The Product-as-a-Service business model involves offering a service in areas that were traditionally sold as products. This model involves ongoing…

Soft Launch Jonathan Poland

Soft Launch

A soft launch is a product launch that is limited in scope, such as a release to a small group…

Brand Analysis Jonathan Poland

Brand Analysis

Brand analysis is the process of systematically and thoroughly examining a brand in order to develop strategies, plans, evaluations, metrics,…

Business Impact Risk Jonathan Poland

Business Impact Risk

Business impact risk refers to the potential negative consequences that a business may face as a result of certain events…

Competitive Intelligence Jonathan Poland

Competitive Intelligence

Competitive intelligence is the process of collecting and analyzing information about competitors, markets, industries, products, and customers in order to…

Content Database

Search over 1,000 posts on topics across
business, finance, and capital markets.

User Story Jonathan Poland

User Story

A user story is a concise description of a specific expectation or need that a user has for a product,…

Marketing Metrics Jonathan Poland

Marketing Metrics

Marketing metrics are a way to evaluate the success of marketing efforts at various levels, such as the organization, team,…

One Stop Shop Jonathan Poland

One Stop Shop

A one stop shop model is a business model in which a single company or organization offers a wide range…

Accountability Jonathan Poland

Accountability

Accountability refers to the responsibility of an organization or individual to provide explanations for their actions and accept responsibility for…

Examples of Strategy Jonathan Poland

Examples of Strategy

A strategy is a long-term plan that an organization or individual develops to achieve a specific goal in a competitive…

What is Jevons Effect? Jonathan Poland

What is Jevons Effect?

Jevons paradox, also known as the Jevons effect, is a phenomenon in which an increase in the efficiency of resource…

Barter Jonathan Poland

Barter

Barter is a system of exchange in which goods or services are traded for other goods or services, rather than…

First-mover Advantage Jonathan Poland

First-mover Advantage

First-mover advantage refers to the competitive advantage that a company can gain by being the first to enter a new…

Value Pricing Jonathan Poland

Value Pricing

Value pricing is a pricing strategy in which a company sets its prices based on the perceived value that its…