IoT Return on Investment for Industry

Mr Beacon has an interesting new interview with Sam Jha, Chief Business Officer of Alpha Ori. Alpha Ori work with the shipping industry that’s still lacking the productivity gains many other industries have experienced through the use of IT. While the interview talks about shipping, it’s equally applicable to all industries.

In the shipping industry, IoT can be used to measure ships’ systems. This can produce thousands of data points per second that can be analysed using ‘big data’ techniques. The key is to identify insights that have value in that they can impact the areas where there are large costs. An example is maintaining up time and using sensing to estimate the life remaining on machinery, detect when things are starting to fail and replace preventative maintenance with predictive and prescriptive maintenance. Better maintained ships can also have the side affect of reducing other costs. Smart ships have lower insurance risk profiles and can hence save insurance costs.

The key message is one of identifying areas where there are large costs and using IT to optimise those areas. In shipping or any industry this usually involves sensing on machinery and systems to maintain optimum up time. It also involves detecting when to perform in-time maintenance to get the maximum life from expensive machinery. Beacons, particularly sensor beacons, provide the sensing part and are especially suitable for areas that don’t have power, lack cabling or are difficult to monitor manually due to accessibility.

Read about beacons and the IoT