The digital twin has proven to be very useful and valuable for all kinds of machinery and equipment products providing better support for equipment in the field, caving money, reducing breakdowns and extending equipment durability.
We are entering the Experience Economy where customers are most interested in building memories, rather than in owning products or receiving a service. Economists and pundits alike are noting this major change in the business world to be as significant as the changes from an agricultural economy to the industrial age and from the industrial age to the service economy, which the developed world has traveled over the last two centuries.
The explosion of IoT growth and IIoT growth is bringing huge numbers of connected devices into the global network of the Internet. Take a look at how the number of ‘smart’ objects, devices and other connected things is growing, with profound expansions into areas that affect supply chain management.
Physical products can’t be produced digitally, but digital resources can and do support manufacturing in a big way. Although manufacturing has made use of computers for decades, ever more powerful systems, sophisticated software, the Internet, and the Industrial Internet of Things (IIoT) have expanded the digital world of manufacturing . . .
Any discussion of analytics today has to include some consideration of the impact of the industrial Internet of Things, or IIoT, the proliferation of sensors and connected devices that are the source of much of the big data that analytics feeds on. What’s different — or not different — about IoT sensors and devices? Where and how are they being used? And how does this all fit with big data and analytics?