Five Ways To Improve Your Enterprise Asset Management

We stand on the edge of Industry 4.0. Soon, an Internet of Things platform that incorporates Big Data, analytics, and artificial intelligence will disrupt business as we know it. To survive, your organization needs to modernize its methods of managing assets over their lifecycles. In other words, you need to improve your enterprise asset management (EAM). Here are five ways to do just that and ensure your organization flourishes in Industry 4.0.

  1. Utilize real-time insights: By utilizing real-time insights, companies can optimize their enterprise asset management. Real-time insights allow organizations to implement agile maintenance strategies. Agile maintenance will ensure your organization does not perform more maintenance than needed, minimizing downtime and cost. Real-time insights also allow organizations to experiment with their operations, adjusting the performance of assets in real-time.
  1. Implement prediction and simulation: By using predictive software, your organization can see the outcome of every possible decision when wondering how to utilize assets. This allows you to be aware of unexpected outcomes, improving reliability and enabling stress-free operations. As well as awareness, an identifiable outcome increases efficiency by eliminating costly approval processes. More importantly, predictive software can reduce risks for every employee in your organization.
  1. Increase agility: Your organization’s EAM processes need to pick up speed to excel in the digital economy. By implementing software that shortens the time it takes for processes like onboarding, your organization can keep up with your industry. You should use new organizational ecosystems to optimize asset implementation or quickly acquire new business models. This allows you to act on opportunities and enter new markets in much less time than it takes with today’s systems.
  1. Simplify solution deployment: With new assets to take advantage of every day, you must be able to implement them before managing them. Now, companies can choose to deploy new solutions in-house, in the cloud, or through a combination of the two. If you utilize cloud solutions, you won’t need to waste time implementing expensive hardware. This will lower your need for costly maintenance and replacement, freeing up both budget and IT resources for value-adding activities.
  1. A consumer-grade user experience: For your employees to accept updates to your EAM, you must offer them within an engaging, easy-to-understand user experience. After all, the implementation of new software is only as quick as the time it takes for your average employee to understand it. Invest in solutions that can be adapted for use across multiple platforms in any part of your organization. By driving adoption through increasing engagement, your organization can increase productivity.

As you can see, improving your organization’s enterprise asset management is a matter of implementing these five foundational improvements. By selecting a solution that focuses on all five, you can future-proof your organization.

SAP’s enterprise asset management software offers all five and much more. Click here to learn more about how we can improve your enterprise asset management.


Internet of Things – Digitalist Magazine

Industrial IoT initiative to improve Efficiency and Safety in the Rail Industry

Global demand in the transportation sector continues to outpace supply and is recognized as a key area for economic growth. Leveraging Penteon’s electronic sensor development, telecommunications gateway infrastructure and enterprise cloud expertise, the Industrial IoT initiative will open a new era in low-cost, highly-secure rail sector services.

Penteon Corporation has announced a new Industrial IoT initiative to develop custom industrial sensing solutions for locomotives, rail cars and track-side equipment in partnership with Wabtec Corporation. Aging rail systems and lack of real-time data collection have become limiting factors in addressing this increasing demand. Embracing new technologies to acquire and analyze information across their operations and using that information to become more efficient and effective will deliver a more responsive and agile operating environment to rail operators.

The solutions planned for development by Penteon and Wabtec include data collection from rail equipment and systems to develop a real-time, holistic view on the health and status of locomotives, rail cars, and track-side systems. This IIoT project capitalizes on the more than 25 years of remote sensing engineering within Penteon and will deliver cost effective, secure and efficient solutions leveraging Penteon’s unique “Sensing as a Service” business model.

“Penteon’s new, low-power, long-range wireless network, which it is building in partnership with Landmark Infrastructure Partners, will also play a key role in delivering reliable cost-effective services,” said Clay Perreault, Chief Executive Officer of Penteon. “Our work with Wabtec is a truly collaborative, consultative relationship, which involves dedication from both parties.  By working side-by-side with our customers, we’re able to drive the best outcomes at an accelerated pace.”    Read more…

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Infographic: Improve Customer Engagement With Analytics

The 2018 Data & Analytics Global Executive Study and Research Report by MIT Sloan Management Review explores how companies better engage with customers through their use of analytics.

The report, “Using Analytics to Improve Customer Engagement,” finds that innovative, analytically mature organizations make use of data from multiple sources: customers, vendors, regulators, and even competitors. The following infographic illustrates the degree to which organizations make use of diverse data and the benefit this competency brings.

Click on the image to view the full-size version.

 

Improve Customer Engagement with Analytics


MIT Sloan Management Review

How the Internet of Things Can Improve Healthcare Management

How the Internet of Things Can Improve Healthcare Management

By Marc, Editor at IoT Business News.

The internet of things is expanding and deepening the networks that are already bringing information and services to us, almost anywhere and nearly anytime we want it. Here are just a few examples of how the internet of things has started impacting healthcare management. Some of these technologies are in the trial stage while others are already being implemented but will become commonplace.

Remote Patient Management

We’re already seeing patients dealing with mental impairment being placed in semi-independent apartments, monitored via remote cameras and sensors. One attendant can supervise half a dozen to a dozen residents at once without having to visit each apartment one at a time, and they can issue advice and give reminders completely remotely.

Facilities can see cost savings through relying on fewer site managers, though you still need at least one person there in-person to handle issues that arise, and they have the ability to hire cheaper remote supervisors not located in a high-cost area. Expect to see this model adopted by more elder-care facilities as demand for assisted living grows.

Improved Clinical Care

We are already seeing a shift from wired sensors to wireless sensors on patients, improving their comfort and ability to move. Expect to see more such monitors and for them to follow patients home. Close monitoring of a cancer patient’s temperature after chemo will allow them to receive faster treatment for infections, reducing their risk of dying. Another way sensors could be used is to track patient movement within a hospital room. If someone’s velocity spikes, nurses are notified of a likely fall. There’s no risk of patients lying on a floor for hours until the next nurse on rounds finds them. These same sensors are already part of many home monitoring systems, offering fall detection, and that may be supplemented with a monitoring device the patient wears to identify when they fall, even if it occurs in an area without sensors.

Online Education and Consultation

A number of trials have found that online consultations with counselors improve the outcomes of mental health patients. Those who are homebound receiving consultations via connected devices and apps don’t miss appointments due to difficulties arranging transportation. Patients in rural areas find it easier to book appointments with professionals working remotely rather than the only local counseling service in their area. Dementia patients may be given online tests for memory to assess their abilities, while those suffering from other conditions receiving training modules to practice skills they are learning or reminders to keep them on track have better outcomes than those without such reinforcement.

Online education for patients with chronic disorders is so valuable many health insurers offer it for free, whether teaching asthma patients how to avoid triggers or patients with metabolic syndrome to better manage diet and reduce their odds of developing diabetes.

Medical professionals, too, are increasingly relying on online educational programs. Many healthcare providers can earn their continuing education credits online. If you want to move into healthcare management, you can earn a healthcare MBA – and the online healthcare MBA program lets you complete the degree, even if it isn’t offered in your area.

The Internet of Things is set to completely change the face of healthcare and make things like remote monitoring, education, and consultation commonplace in the near future. This will most likely change how healthcare management will be handled and present a whole new set of challenges.

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Cincinnati Airport uses Bliptrack to improve passenger wait times

Cincinnati Airport uses Bliptrack to improve passenger wait times

Cincinnati Airport in Kentucky is using connected technology from BlipTrack in a bid to deal with passenger demand and improve wait times.

With almost seven million passengers passing through this international transport hub last year, Cincinnati/Northern Kentucky International Airport (CVG) is using live data to identify delays at the security checkpoint and allocate staff and resources better.

To do this, it’s been using BlipTrack technology from Blip Systems, allowing it to process passengers in more efficient ways. Just last year, the airport achieved its best-ever ranking in its 21-year history in the US Department of Transportation airfare report.

Read more: Billund Airport invests in IoT system to improve passenger experience

Tech pioneer

CVG is always looking to improve, and it’s been using sophisticated technology for years. In 2014, CA implemented BlipTrack queue and flow technology at its checkpoints.

It was the first American airport to implement this technology, which allows staff to measure, understand and improve the traveler experience, and to better plan and allocate crucial resources.

After one year of use, the airport announced that the data gathered had helped it reduced its security line wait times by one third. A 2015 report by Purdue University found that standard wait times had dropped by nearly over four minutes from 13.2 minutes in 2011 to 8.9 minutes.

Read more: New Zealand Air Force recruits Blip Systems for traffic management project

Continuing journey

Since originally enabling this technology, Cincinnati Airport has added new features to the solution to help it continue streamlining operations further and improving the passenger experience.

For instance, it’s now using passenger-facing wait time monitors and CVGairport.com interfaces to provide immediate wait-time status, easing natural travel anxieties associated with queuing for passengers.

In addition, the airport has established what it calls “service level agreement (SLA)-like standards for self-accountability”, helping it to stick to its goal of wait times below 15 minutes. 

Read more: Birmingham Airport uses IoT to monitor queues and keep passengers happy

Boosting efficiencies

Stephen Saunders, senior manager of terminal operations at CVG, explained how the technology works: “We have added a new feature that allows us to understand the pattern of how lanes are being utilized throughout the day.

“This helps us better understand TSA’s lane utilization on any given day. Our future goal is to pair this information with passenger show-up profiles and wait-time inputs to complete a story of how the check point is operating as a whole, and help the TSA develop lane open/close plans based on predicted throughputs.”

He added that the airport, which serves the greater Cincinnati area, has been working with partners to get the most out of this technology. “We have used tangible data to work with our partners at TSA to adjust officer start time,” said Saunders.

“We previously noticed a high spike in queue waits during our heaviest early bank of morning flights, levelling off after about 7:30am. We collectively identified TSA schedules were misaligned with the flight schedules.”

Read more: Smart city of Aarhus uses Bluetooth sensors to improve traffic flows

The future is here

Candace McGraw, CEO at CVG, is a big believer in this innovation.  “Our use of the technology has proven quite successful,” she said.

“It has enabled CVG to continue our close collaboration with TSA to ensure that the passenger experience is one that enhances the journey experience, not detracts from it. Our significant investments in our facilities and the solution ensures we use them as as effectively and efficiently as possible.”

Today, more than 25 airports from around the world are using technology from Bliptrack. They include JFK, San Diego, Copenhagen, Dublin, Oslo, Manchester and Brussels airports.

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