Industrial IoT

August 24, 2020

Actionable Insights: IIoT Helps You Quickly Communicate Organizational Health and Improve Forecasting

Improve business operations and efficiently plan for the future, with real-time insights from IIoT. 

We’ve entered the Golden Age of business productivity thanks to Internet-connected technologies. 

IIoT (Industrial Internet of Things) helps businesses improve outcomes with automation and data collection tools that inform real-time actionable insights. Across industries, today’s most successful companies are leveraging IIoT to save dollars and increase productivity. According to Gartner, there will be more than 25 million connected devices by the end of 2021. 

You might be wondering how IIoT can help you quickly communicate business health data and turn it into actionable insights and projections. Before we answer your questions, let us provide a basic IIoT definition (forgive us if you already know). 

What is IIoT?

In basic terms, IIoT, or the Industrial Internet of Things, is a system of interconnected instruments, sensors, and devices networked for industrial applications. The connectivity allows businesses, organizations, and facilities to collect, exchange, and analyze data to improve efficiency, productivity, and, ultimately, business outcomes. 

We also provided a general IIoT description in a blog earlier this year: 

“Connected assets and Edge devices send information to data communications infrastructures and turn the insights into actionable info. Engineers can use this data over time to uncover patterns that help identify more significant issues and their root causes. The gathered information can also drive meaningful business decisions, improve processes, and save money.” 

How does IIoT communicate organizational health? 

IIoT-enabled processes allow businesses, organizations, and facilities to monitor assets quickly and efficiently. Smart sensors can detect and notify you of issues in real-time – quicker than a person ever could. And the information communicated through sensors and tools for automation can help you contain and address problems before they impact business and operational health. 

Here are two examples:

IIoT in Agriculture:

IIoT can provide real-time grain bin storage condition reads and automate blowers to operate only during off-peak electrical hours, saving as much as 50% in energy costs. But the tools are about more than saving dollars. IIoT can alert you to issues specific to storage conditions and blowers, ensuring nothing is wasted, missed, or broken. IIoT also allows you to track herd health, mitigate feed shrink, and more. 

IIoT in water/wastewater treatment:

IIoT helps water/wastewater treatment facilities remotely monitor tank levels, providing 24/7/365 real-time visibility to find potential issues before they start. The technology also allows you to track chemical levels remotely, set automated leak alert triggers, isolate chemicals, and trace the source of issues. Our tools also allow facilities to reduce maintenance costs up to 40%, by using edge applications that enable the prediction of asset performance and failures. 

How can IIoT improve forecasting?

Traditional planning and forecasting is a collaborative process involving many people. And where there are human hands, there’s room for error. IIoT provides unparalleled access to data. It gives you the ability to move past traditional projections based on volumes of real-time information gathered across the timeframe best suited to your needs. Our technology helps you move from forecasting based on models to forecasts based on measures. 

With IIoT-driven planning, businesses, organizations, and facilities can be more agile and create projections that provide transformative financial and operational benefits. And they can do it without the fear of human error. 

IIoT technologies help enterprises across industries solve problems today and capitalize on future opportunities that come with a smart edge. FreeWave’s technology drives unprecedented levels of productivity, performance, and efficiency. 

Get smart today. Reach out for a quick chat, and let us show you how we can help transform your operations today and into the future.