The top 4 benefits of IoT data management

But it also means businesses face a constant challenge. Whether you’re manufacturing a fleet of connected trucks or operating a smart building, the IoT is built for people. Unfortunately, people apply technology in ways that are difficult to predict. Equipping businesses with the right tools to understand actual usage is essential to produce useful devices. That’s where collecting, storing and managing IoT data from the field comes in. Field data, which are coming back from customer usage, have a significant impact on the next iteration of a product.

Using IoT data management to create better products

IoT data management enables businesses to discover usage patterns. It also challenges assumptions made during design and development phases, identifying weaknesses in connected devices. In other words – it helps create the best connected products possible.

Before you release a product, IoT data management allows you to conduct a field test. Just as Tony Stark needed to be thrown into a few walls before his Iron Man suit was ready for battle, any product you create needs to go through a testing phase. You gather data on how it’s used to determine most likely wear-and-tear areas, expected product lifetime, environmental conditions and user behavior.

IoT data management: Data-driven product development Source: Bosch Software Innovations

Data-driven product development

Armed with this data, you can improve design. And create a higher-quality product that offers the best user experience. For example, an automated vehicle manufacturer can identify how various parts and components are used, and assess what conditions they can withstand. When you consider that vehicle recall costs can run into millions in compensation claims (not to mention the cost to your reputation), this is a no-brainer. Collecting field data is also an important step post-launch. You can provide continuous product improvements with software updates and get important insights for your next version. Throughout the product lifetime, these insights will support the development process of new products and additional iterations. Also, they will help identify anomalies.

4 major benefits of IoT data management for your IoT strategy

1. Understand users’ needs

Automation exists to make people’s lives easier. Their needs and habits should underpin your connected devices. Exploring IoT data from the field will give you a better idea of how the product functions in a user’s day-to-day life. Maybe you have designed a smart air conditioner or lighting system that includes automation settings based on the weather. If people are overriding these settings to make a manual change, it is a sign that the product doesn’t align with their needs or expectations. IoT data management lets you optimize these smart algorithms by looking at sensory data and the points in time when a user made a change. Then you can redesign or retrain your product to offer a better user experience.

2. Predict asset wear

This also applies to connected infrastructure and assets. Foot traffic will impact a smart bridge or floodgate. IoT data is essential to understand expected wear-and-tear and plan for maintenance and repairs. By conducting this exploration throughout its life cycle, you can also identify if users are operating outside of anticipated patterns. Combined, these insights let you pinpoint areas where the product needs reinforcements or additional features.

3. Enable resource efficiency

The goal of automation is always efficiency but it’s easier said than done if you are working on instinct or assumptions. Data on how customers use your products allows you to make more educated decisions. For example, in a connected building, monitor how people are operating heating and lighting, assess how spaces are used and keep track of any deterioration. This lets you reduce inefficient use of time, space or energy – ultimately saving you money.

4. Create effective systems

Complex IoT solutions consist of many individual devices. Although each of them separately might work to perfection, when working as a system, they can behave in unexpected ways. It’s not enough to simply collect telemetric data from individual devices. The transmission, storing and managing of IoT data enables you to identify problems early on and validate the performance of the overall system.

IoT data management step by step: From data transfer to data analysis Source: Bosch Software Innovations

Step by step: From data transfer to data analysis

Kick-starting IoT data management

Christoph Grotz

Christoph Grotz has been a solution architect at Bosch Software Innovations since 2012. Christoph is passionate about the Internet of Things and has gained experience through many projects inside and outside of Bosch in topics like Smart City, wireless sensor networks and connected products. In the nine years he was active in the software industry he has worked in both frontend and backend, but prefers backend. At Bosch Software Innovations he is currently doing consulting on IoT solutions implementation.

To make sense of all data points, customers usually need a complex solution that requires lengthy ad-hoc development. This chews up budget and steals time. Based on the experience of more than a dozen IoT data management projects, these two main features were decisive for our customers:

  • A ready-made, standardized solution delivered as a service. It’s simple to use and doesn’t require extra effort to set up. For example, we deploy our IoT data management solution in the Bosch IoT Cloud or on our customers’ sites.
  • Our solution for the vehicle market supports the decoding of customer-specific formats and various automotive data specification standards. This includes ODX, Fibex, A2L, dbc, and mdf. The raw data is permanently stored in an archive, so our customers can restore the original data if needed. On the other hand, the decoded, normalized and enriched data is securely accessible by data scientists.

From a shot in the dark to informed decisions with IoT data management

When you’re dealing with large amounts of geographically dispersed IoT device data, you need a solution that not only collects but decodes and fills in the blanks, stores, and makes sense of it for you. Without access to structured data from the field, you are experimenting and developing in the dark. But with the right insights up your sleeve you can improve product development, increase efficiency and quality and simplify operations.

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Consumers to reap real benefits of AI

MediaTek is on a mission of democratizing technology. Making the best technology affordable and available to everyone will change the way people connect and interact with the world around them. The company is enabling Artificial Intelligence (AI) edge computing with its NeuroPilot AI platform. As part of its ongoing AI platform strategy an AI processing unit (APU) and NeuroPilot SDK, MediaTek is all set to bring AI across its wide-ranging technology portfolio.

MediaTek’s current AI solutions for voice assistants, TVs and autonomous cars, showcased at CES demonstrates the power of AI. With AI, they are empowering 1.5 billion devices and redefining consumer experience.

“AI enhanced technology is quickly becoming part of the consumers’ every day experience. MediaTek’s AI platform is designed for today’s smart devices and to pave the way for an AI-powered future,” said Jerry Yu, Corporate Vice President and General Manager of the Home Entertainment Business Group, MediaTek.

Connected devices also now require more computing power at the edge rather than in the cloud for faster response times. Its rich ecosystem includes MediaTek powered devices with existing AI capabilities like: Amazon Echo, Android O DTV, Belkin Wemo Smart Plug and MediaTek whole home Ccverage router.   Read more…

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Internet Of Things | IoT India

Three Ways Commodity Trading Benefits From IoT

A business’ growth requires innovation and new uses of technology. As more individuals turn to the Internet of Things (IoT) as a resource, its use in commodity trading will grow. Businesses must understand the advantages of using IoT to meet client expectations and improve the company’s goals for the future.

Improved demand and supply sensing with IoT

A key advantage of IoT in commodity trading is the opportunity to keep up with supply and demand while maintaining high-quality products. Business Insider says that IoT technology distills the complex tools used by a company into a single, coherent ecosystem. By setting up a system with a coherent technological connection, a business improves the quality sampling while identifying problems within the sampling.

In commodity trading, supply and demand is a key part of the business. A business must ship quality products to the correct location by a set time. Weather drones, online applications, and satellite images can enable a business to accurately estimate when a commodity will arrive at a specific destination, giving the company a competitive edge around supply and demand.

Weather forecasting with drones and satellites also enables commodity producers to improve operations and, therefore, supply. Monitoring the weather enables food commodity producers to set schedules around the ideal weather conditions for growing and harvesting plants. It also enables mining and oil rig operators to identify weather conditions that could cause safety or other concerns that slow product supply. By forecasting the weather and using IoT technology to estimate the impact of poor weather on supply, a company can take preventative measures to address potential problems.

The Internet of Things uses real-time and historical data to help commodity companies develop an accurate image of the current market and reduces risk by identifying customer buying patterns and anticipating changes in demand. The business keeps up with customer demands by analyzing historical data, real-time information, and key information from an array of sources through IoT tools and applications. Machines and software use data analysis to predict customer demands and develop a strategy to supply the commodity to appropriate locations.

The Internet of Things provides real-time data, which means the business has access to details related to breakdowns, delays, or other problems that may arise in the delivery of a product. It ensures that commodities arrive in a timely manner by addressing problems or delays.

Big Data used in IoT applications works on a global and local scale. By identifying the demand for a commodity in a local area, a business sets an appropriate premium for a commodity and optimizes company profits. Optimized pricing through supply management and demand analysis drives the value of a commodity.

Optimized routes and using IoT in freight

Transportation is a key part of selling a commodity. Since commodity trading relates to food items, like coffee beans and cocoa beans, as well as other necessities like metals, a business must obtain proper transportation for the goods. The Internet of Things gives a company opportunities to optimize the routes for their product transportation.

Businesses can use the online system to determine the best routes for the transportation of goods. It allows the business to bypass areas with heavy traffic or potential complications for the transportation of items. It also ensures that the business stays up-to-date with roadwork, construction projects, or other problems that may slow the transport of commodities.

When a business uses freight for transportation, it optimizes Big Data and technology to improve its logistics and commodity management. Bulk freight businesses expand beyond Internet and data management when using IoT applications or tools, says Lloyd’s Loading List. Wireless technology allows a company providing bulk freight services to enhance the company. A business may use computers, robotic tools, and other devices to keep up with demands and ensure proper management of commodities.

Setting up sensors in freight expedites the process and reduces the risk of late deliveries. By avoiding late deliveries through an organized system and sensors on the packages, a business does not need to replace commodities and faces fewer penalties. The sensors help reduce the risk of losing business or paying late delivery fees in the bulk freight industry.

IoT technology can disrupt existing logistics strategies. Developing applications for clients and company employees provides an opportunity to speed services and engage directly with clients. Lloyd’s Loading List reports that companies using IoT to develop their business gain visibility, which provides new opportunities for long-term growth.

Expansion into new markets

Expansion is a goal of any company working with commodity trading. Technological advances in IoT provide an opportunity for businesses to expand into new markets, says Business Insider. The data obtained with IoT technology allows a company to identify potential markets with limited competition for a commodity.

Online tools and access to a greater amount of data give the company a pattern for expansion. By analyzing data and following through with additional research into local environments, a company determines when it has room to move into a new market. Connectivity within the company also provides a chance to quickly access data and make decisions about a potential market. Companies can also use this data to make decisions about new products or commodities to sell in the future.

The Internet of Things plays a key role in the future of commodity trading. It improves productivity, provides opportunities for further growth, and optimizes the routes used to transport a commodity. The key is recognizing the applications of IoT technology and then implementing a plan of action that works with the goals of the company.

Learn how to bring new technologies and services together to power digital transformation by downloading The IoT Imperative for Consumer Industries. Explore how to bring Industry 4.0 insights into your business today by reading Industry 4.0: What’s Next?

Internet of Things – Digitalist Magazine

The New Economic Benefits of Older Workers

Demographics are shifting: The number of people globally age 65 and older will soon eclipse the number who are five years old and younger, according to recent U.S. Census Bureau data. This shift is being met with economic anxiety in many quarters, with theories that an aging population is a threat to economic prosperity. Some argue that an older workforce will be less productive, lacking the dynamic skills of younger workers. Others speculate that an older population will create an excess of savings over investment, leading to slow growth and secular stagnation. Others say that a wave of retirees is likely to take important skills out of the marketplace.

Our recent research suggests that much of this panic may be overblown. In our empirical work, we find no evidence that countries with rapidly aging populations are experiencing slower growth. Many, such as Germany, are growing rapidly instead.

As our baseline measure for population aging, we studied gross domestic product (GDP) per capita from 1990 to 2015 — the period commonly viewed as the beginning of the adverse effects of aging in much of the advanced world. Within that period, we compared the change in the ratio of the population above age 50 to those between the ages of 20 and 49. We included 169 countries in the sample.

The results were surprising. Even when we control for initial GDP per capita, initial demographic composition, and differential trends by region, there is no evidence of a negative relationship between aging and GDP per capita. On the contrary, the relationship is significantly positive in many specifications.

Our findings raise new questions: What can explain these patterns in the data? What explains the vibrancy of many aging societies?

Automation Technology Is Easing the Effects of Demographic Changes

The most plausible explanation is that this counterintuitive finding reflects the rapid adoption of automation technologies in countries with more pronounced demographic changes. In other words, technology not only might be able to offset potential negative effects of aging populations, it already is. The post-1990s saw the arrival of a range of labor-replacing technologies that help companies automate the production process. The most recent of these are robotics and artificial intelligence (AI).

Our research shows that countries with demographic shifts in populations, including Japan and South Korea in addition to Germany, are also at the forefront of the adoption of one important type of automation technology: industrial robots. This insight comes from data from the International Federation of Robotics (IFR), which provides information on industrial robots across a range of industries in 49 countries.

This research builds on our previous research on the implications of technology for growth and employment. In that study, we found that labor markets have generally responded to an aging labor force by automating more jobs. In fact, when capital is sufficiently abundant and cheap, a shortage of younger and middle-aged workers can trigger so much adoption of new automation technologies that the negative effects of labor scarcity on GDP can be completely neutralized or possibly reversed. If so, an aging workforce can turn into an impetus for switching to higher-tech production processes rather than a drag on productivity.

Could Your Workforce Benefit From Robotic Technologies?

What should business leaders glean from these trends when it comes to business planning?

The study results should offer additional incentives for investments in robotic technologies, short term, and also may provide broad insights into the dynamics of today’s global workforce demographics. Of course, each enterprise needs to examine its own unique labor and productivity needs, especially where international operations exist.

In addition, the impact of technology on growth and labor are unfolding daily with every new app and innovation. While the nature of new technology has important implications for economic growth and the labor-market fortunes of workers, there is still great need for empirical evidence on the impact of automation and robotics on employment.

MIT Sloan Management Review

ABB: IoT moves from business case to business benefits

ABB: IoT moves from business case to business benefits

In an exclusive interview with Internet of Business, ABB chief digital officer Guido Jouret describes a maturing IoT where business benefits and return on investment are taking centre stage. 

“Are you a technical person or a business person?”

That’s the question that ABB chief executive Ulrich Spiesshofer asked Guido Jouret back in 2016, when the latter was interviewing for the job of chief digital officer (CDO) at the $ 33.8 billion Swiss-Swedish company.

Guido Jouret of ABB

“I just told him ‘Yes’,” Jouret laughs, “because I see myself as both, but also because I see the IoT as needing both.”

It’s a good answer. It certainly may have helped Jouret win the job at ABB – his appointment was duly announced in September 2016. And sure enough, those dual strands of technical expertise and business savvy run not just through Jouret’s own job, but also ABB’s wider IoT strategy. 

Read more: ABB innovation challenge sees six start-ups win funding

Getting value from IoT

First, Jouret is involved in building out ABB Ability, the company’s digital offering that aims to provide a single platform for the company’s digital products and services.

Second, he’s helping to weave digital expertise across ABB’s products and services, creating ‘mini CDOs’ in each business unit, to act as local digital leaders.

Third, he says, he’s focused on helping ABB’s customers get value from their IoT investments. It’s perhaps the aspect of his job that appears to relish the most. 

“This is a fascinating time in the IoT’s evolution, because almost everybody ‘gets it’ now,” he says. “Customers understand the business case for IoT and they want to move ahead with quantifying the benefits and return on investment. So this is a really important strand to my job: showing them how the IoT can make their business better.”

Read more: OT meets IT with ABB, IBM industrial IoT partnership

Robotics revolution

ABB is arguably best-known for its industrial robots and the ‘robotics revolution’ offers huge scope to make businesses better, Jouret believes. That’s due, in part, to a technology evolution that is seeing a new generation of industrial robots emerge that is smaller, safer, more adaptable and more mobile than those that came before.

“Ten to fifteen years ago, industrial robots were engineered to perform dangerous tasks – but they are also dangerous to be around, which is why many of them live in cages on the factory floor,” he says.

But today’s so-called ‘collaborative robots’ have better manners. They sense the proximity of human colleagues, taking a different course when necessary and halting if a collision occurs. They can easily move from place to place and they be programmed to perform a wide range of different tasks.

As an example, Jouret cites ABB’s Yumi, recently seen leading famous Italian tenor Andrea Bocelli and an orchestra in a bravura finale to a robotics festival in Pisa.

The opportunity here for ABB, according to Jouret, is helping its customers deploy and integrate these robots with their existing plant-floor machinery and their human workforces. 

Read more: Number of service robots to reach 264 million by 2026

Receive instructions, report on status

When it comes to teaching robots new tricks, ABB’s RobotStudio provides developers with a platform on which they can create the code they need to feed to robots in the form of instructions.

But robots are smart, connected devices and they are as capable of sending data as they are of receiving it. In other words, they can report on their status, condition and operations – and all that data is yet another source of insight for making businesses better, says Jouret.

“We can monitor robots and let the customer know that a particular robot needs a part replaced or it’s motor is running slow. We also know how much energy they’re consuming and can take measures to curb that; for example, slowing them down during periods where power is expensive. And we can adjust their activities to reduce wear and tear on components, making movements smoother or slower, for example, so that robots last longer.”

But how does ABB deal with the challenge that, having invested millions in industrial machines and robots in the past, many of which are expected to remain in service for two decades or more, industrial customers may be reluctant to make new investments?

Jouret says it’s a question of greenfield versus brownfield companies – that is to say, those that represent net-new opportunities for ABB, versus companies with existing investments to protect.

“The industrial world is rife with brownfields. There are very, very few greenfield sites, because most companies are established and they already have a lot of stuff,” he says. “But that’s always been something that ABB has had to deal with, it’s our daily bread to integrate with older equipment. Now, we’re focusing on taking new robotics technologies and making them easier to deploy, easier to integrate with older tech and easier to fit into current processes, on a task-by-task basis, to the benefits of human employees.” 

Guido Jouret will be speaking at our Internet of Manufacturing event, taking place in Munich, Germany on 6 & 7 February 2018. Hear from him and other Industry 4.0 leaders on how IoT technologies are boosting productivity and profitability across the sector. 

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