In Italy, IOT is present in both the industrial and public sectors, and smart products. Many ICT companies are adjusting their offerings to include this technology. But what are companies missing out on if they don’t ride this innovation? Let’s look at it briefly in this article.
An analysis by the Milan Polytechnic Observatory shows that in our country, the number of companies leveraging the Internet Of Things to change software and hardware technologies is clearly growing, with a +20 percent increase in spending compared to 2017: of the 3.2 billion euros allocated to Industry 4.0 in 2018, as much as 60 percent went to IIOT (Industrial IOT) technologies, followed by Analytics with 17 percent, Cloud Manufacturing 8 percent, Advanced Automation 5 percent, Addictive Manufacturing 2 percent and Advanced Human Machine Interface 1 percent.
To summarize, one could say that IOT is the technology of the present (and future) because:
- Robotics was already present in Industry 3.0. Industry 4.0 effectively evolves the connection and exchange of data between machines and humans
- It includes infrastructure, products, applications, and thus includes an almost unlimited number of operators and ecosystems.
- It is both the point of origin of data and the means of data communication
- It is closely related to Artificial Intelligence, because it generates and provides data to machines and distributes their outputs
- It quickly connects different areas, allowing a continuous exchange between production area, public and private.
In the enterprise, the use of IOT generates value at all stages of production and processing, at the distribution and post-purchase service stages, and is a tool that enables timely action on production and marketing techniques as well. The benefits of IOT for an enterprise can be summarized as follows:
- Process optimization: through assessments such as production progress and preventive maintenance
- Extreme customization of products, up to and including case-studies that have succeeded in configuring customizations such that craftsmanship has been achieved
- Servitization: transformation from product to service. By working on the customer relationship, it enables sales or upselling with face-to-face payments, in on-demand or pay-per-play options.
- Reselling: thanks to IOT, companies can collect larger types and volumes of data than are strictly necessary for their business, making them available to third parties interested in purchasing them, while still respecting privacy
- Business scope: expanding the company’s role in its competitive arena
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