The Internet of Things (IoT) is improving equipment reliability and moving machines closer to zero unplanned downtime.
Unplanned downtime is largely due to deficiencies in how information is gathered, stored, accessed and shared.
This is according to a GE report titled Industrial Internet@Work, released by GE Chief Economist Marco Annunziata and Peter C. Evans, director of global strategy and analytics at GE.
Time and money wasted on servicing machines amounts to more than 300 million man-hours per year, representing a huge economic loss, the report reveals.
The Industrial Internet, however, brings together the digital and machine worlds through IoT and helps people work more efficiently and productively with machines.
It is a digital network that links machines, sensors generating data, people and the cloud.
Annunziata and Evans write that the Industrial Internet allows people to collaborate and share information faster, and profoundly transform the workplace.
They add that “a key feature of the Industrial Internet is that information itself becomes intelligent. When workers need it, information will find them—they will not need to hunt for it.”
IoT-enabled equipment is able to remotely monitor the condition of your assets, anticipate failures, and notify you when new parts need to be ordered.
Through remote asset monitoring, IoT-connected devices can remotely monitor sensor data such as vibration, temperature, pressure, etc. and prompt for troubleshooting or predictive maintenance.
It is enabled by increased connectivity, collaboration, data analytics, and cloud-based software and mobile apps.
Turning real-time operational data into insight for better and faster decision-making isn’t a futuristic idea – it is already possible.
GE software engineers are currently using a “first-of-its-kind” industrial-strength software development platform called Predix to build Industrial Internet applications.
The platform provides a standard and secure way to create apps for any machine or device connected to the Industrial Internet.
Predix is the foundation for all of GE’s Industrial Internet applications, providing powerful, consistent, secure, and scalable support for the solutions you rely on to optimize your business.
The following video looks at the impact of unplanned downtime and the benefits of predictive maintenance in various major industries.
