Companies everywhere are on the hunt for new ways to compete in their rapidly evolving markets, and nowhere is this truer than in traditional industries like energy, manufacturing, and transportation. From new opportunities to lower costs by increasing efficiency to more fundamental changes like evolving beyond selling capital goods to provide services, effectively turning expertise into a revenue generator, these companies are all working mightily to leverage technology as a change maker.
In almost every instance, data is the key asset. Not just data from internal systems, but a flood of data from sensors and related equipment throughout the supply, production and logistical chain—even those monitoring in-field customer deployments. Often referred to under the general umbrella of the industrial internet of things (IIoT), this connection of equipment, suppliers, distribution networks, and more works to generate a constant stream of data.