The Industrial Internet of Things (IIoT) harnesses industrial technologies, processes, physical objects, and services to create an interconnected system that monitors and shares information. Also known as the Industrial Internet, the fourth industrial revolution, and Industry 4.0, just like the internet did in the 1990s, the IIoT is set to change the world as we know it.
How does the IIOT work?
Using technologies such as sensors, automation, etc., the IIOT helps us to capture and communicate data like never before. Ultimately, leading to improved problem-solving, greater efficiencies, superior business intelligence, and cost savings.
For example in the not too distant future, technology will be used to create machines that:
- Know when they need maintenance
- Can automatically order the parts required to fix themselves
- Establish the best time to be taken offline.
However, while the IIOT is a hot topic across the trade media, in reality, for many SMEs, making the leap into the unknown can seem both confusing and costly.
What is Predictive Maintenance?
According to industry experts, predictive maintenance (PdM) could be an ideal entry point for organisations that want to enter the IIOT market. But what exactly is PdM and how could it help your business?
PdM could be described as the evolution of planned preventive maintenance (PPM). With PMM, maintenance is scheduled based on the expected operating experience of an asset. However, with PdM, each asset’s real-time operating data is analysed to assess when maintenance is due. So, maintenance is determined by the actual condition of equipment rather than average statistics.
Predictive Maintenance and the IIOT
One of the biggest challenges thwarting IIOT adoption is a lack of understanding as to how the vast amount of data available can be used. And how to analyse and act on this information. But it is easy to see how predictive maintenance can help.
By delivering more accurate information and enabling more predictive maintenance, SMEs can accurately predict how long they can last before doing anything; keep everything running for longer and save on replacement costs.
In fact, the bringing together of operational and informational technology not only leads to improved insights and reduced downtime; predictive maintenance can generate savings of up to 12% over scheduled repairs, leading to a 30% reduction in maintenance costs and a 70% cut in downtime from equipment breakdowns.
So, when it comes to investing in the IIOT and making the leap, PdM is a natural and straightforward access point.
How to start
With developments in the cloud giving SMEs access to previously unaffordable software and tools, it’s impossible to obtain the benefits of IIoT without making the switch. So, it’s vital that service-led companies act now to capitalise on improved operational performance – or risk being left behind.
However, there is an easy way to start reaping the benefits. As cloud solutions and advanced analytics options evolve, the lines between predictive and preventative maintenance are becoming increasingly blurred. At Service Geeni, our innovative cloud-based PPM software uses advanced analytics to deliver improved insights that take preventive maintenance to the next level.
With Service Geeni, our PPM module will help you to manage maintenance contracts more efficiently. Delivering improved insights, by enabling more predictive maintenance we’ll help you to save time and money.