IoT Analytics from Data to Decision Making - Trends & Challenges
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This document discusses trends and challenges in IoT analytics. It notes that IoT analytics is becoming more accessible through low-code and no-code tools, allowing companies without data science expertise to gain insights from data. The document outlines several challenges for IoT analytics tools, including data oversupply, selecting the right metrics, data protection, and enabling cooperation. It advocates starting IoT projects through pilot programs focused on a few technologies and business skills. Overall, the document promotes IoT and analytics as key enablers of the fourth industrial revolution.
IoT Analytics from Data to Decision Making - Trends & Challenges
- 1. favoriot IoT Analytics from Data to Decision Making - Trends & Challenges Dr. Mazlan Abbas CEO - favoriot Email: mazlan@favoriot.com Keynote SCDS2023 – Jan. 25, 2023
- 3. favoriot If you don’t measure… … You can’t Manage … You can’t Control … You can’t Improve … You lose Money
- 4. favoriot Trends in IoT Analytics “The big goal with low-code no-code analytics is for anyone to be able to transform data into insights” “Low-code, no-code environments are opening up adoption to companies that don’t have substantial data scientist skill sets, and manufacturing is one of the industries that has really adopted IoT and analytics.” “Analytics and data are no longer the realm of just the white-collar workers and the blue-collar workers, it’s starting to be used by people all across the supply chain.”
- 5. favoriot Manufacturing 4.0: Interest & Inhibitors
- 6. favoriot Challenges Your Analytics Tool has to Face 1. Data oversupply • With the shift to digital, the amounts of data are rising. 2. Cherry-picking to find precious data • What’s tricky about data analytics is picking the right metrics to follow and compare. • It’s easy to get drawn into a sea of numbers or set your tool inappropriately. • If digits blend in your eyes, maybe you should think about data visualization like graphs 3. Data protection • Data gathering and storage are regulated by rules that depend on a particular country’s laws. 4. Ease of cooperation • Software systems today are so advanced that it’s hard to imagine a platform without integrations. • Exporting data to other applications and sharing them within your team (or even externally) are critical for an omnichannel solution.
- 7. favoriot Where are the Data Coming From?
- 8. favoriot The 3 Tsunamis of Internet Fixed Internet Mobile Internet Internet of Things (IOT)
- 10. favoriot Why IoT is Now at an Inflection Point? Cheaper and smaller. Hardware Key Growth Factors Ripples of technologies. Simple and faster. Software Development Becoming pervasive. Connectivity New entrants and players IoT Ecosystem Number of transistors double every 2 years. Moore’s Law
- 11. favoriot What are the Industrial Revolutions?
- 12. favoriot What is Society 5.0? Hunting Society Agricultural Society Industrial Society 1.0 3.0 2.0 4.0 5.0 Information Society Super Smart Society
- 13. favoriot What is IR 4.0? IR 1.0 (Manual With Physical Tools) IR 2.0 (Electrical) IR 3.0 (Automation/ Internet) IR 4.0 (Intelligence) 1.0 3.0 2.0 4.0 (1784) (1870) (1969) (Today)
- 14. favoriot 4th Industrial Revolution Technologies
- 15. favoriot Enabling Technologies of Industry 4WRD
- 16. favoriot Which Era of Industrial Revolution Are We in Now?
- 17. favoriot 1.0 3.0 2.0 4.0 The Way We Cook
- 18. favoriot 1.0 3.0 2.0 4.0 The Way We Teach
- 19. favoriot 1.0 3.0 2.0 4.0 The Way We Transact
- 20. favoriot 1.0 2.0 3.0 4.0 The Way We Do Travel Booking
- 21. favoriot 2.7 Where are we now?
- 22. favoriot IoT – Core for IR 4.0
- 23. favoriot I need to maintain the quality of my goods. Who is the intruder? Can I reduce my electricity bill? Am I healthy? When is my next bus? Where can I park? Monitoring of Assets – Typical Everyday Questions What IF we can connect ALL these assets and get the answers to ALL these questions? The Need To Connect Assets and Sense Environment
- 25. favoriot From Data to Wisdom Raw data Can distinguish data How data is related Synthesize new knowledge Judge between right and wrong and between good or bad
- 26. favoriot The Value of Insights Increases Descriptive Analytics Diagnostic Analytics Predictive Analytics Prescriptive Analytics What Happened? Why did it happen? What will happen? How can we make it happen? Hindsight Insight Foresight Information Optimisation Difficulty Value
- 27. favoriot 7Ms That Can Transform Your Manufacturing
- 28. favoriot (1) Manpower • Increase productivity • Lower manpower costs • Safety
- 29. favoriot (2) Material • Just in Time • Saves time and cost • Understanding condition about assets
- 30. favoriot (3) Machine • Uptime • Predictive Maintenance • Reduce Errors
- 31. favoriot (4) Method • Reduced “Red- Tapes” • Become agile • Faster and efficient
- 32. favoriot (5) Market • Enter new market segment • Expand reach globally
- 33. favoriot (6) Money • Create new products and revenue stream • New business models • Saves costs
- 34. favoriot (7) Management • Data-driven decision management • Better decision making • Transparency
- 35. favoriot Think Big Start Small
- 36. favoriot Start with a Pilot Project 4 Tech & Business Skills
- 38. favoriot 5 Main Components of IoT 01 02 03 04 Digital Sensors – Temp, humidity, pressure, gas, etc Fixed or wireless Platform that aggregate heterogeneous devices with different protocols Workflow, analytics and insights Sensors & Actuators Connectivity IoT Middleware Applications & Analytics Security
- 40. favoriot Home Health Transport Office Waste IOT Platform – Blending IoT Data Blending Data - Creating New Compound Applications IoT Platform
- 41. favoriot What Data Need to be Collected for Better Decision Making Is it due to heavy rain? - Which location? Is it due to rise of sea level? Is it due rise in river water level? - Because of silt on riverbed - Because of blockage at bridge What exactly causes The Flood? What kind of sensors and where to place sensors? Ask the right questions? Which problems to solve? Example
- 42. favoriot IoT Project - What Should You Focus? favoriot Hardware Connectivity Platform Application/Dashboard • How to develop the hardware? • What sensors to use? • What network to use? • Which communication adapter? • How to send data to the Cloud? • How to manage the device? • How to save the data? • How to create a dashboard? • How to create insights? • How to create smart application?
- 43. favoriot Simple Steps to Start Your IoT Journey favoriot (1) Sensor (2) Connectivity (3) Platform (4) Application Scan for Free IoT Resources (Tips, Tutorials and Projects)
- 44. favoriot IoT Platform – favoriot “Partner in Your IoT Journey”
- 45. favoriot favoriot IoT Middleware “Create your IoT vertical solutions rapidly”
- 46. favoriot
- 47. favoriot Smart Solutions that Helps ESG Environmental Monitoring Power Monitoring Vibration Monitoring
- 48. favoriot Monitoring Solutions Monitoring Environmental & Safety Analytics Dashboards
- 50. favoriot How to Prepare for the Future
- 51. favoriot 5 (Five) Action Plans Identify application and collect data Collect IoT Data 5 Action Plans Data Storytelling Decision Making To get insights of data Use Analytics Become a Digital Leader to transform your organizations Digital Transformation Areas for improvement Improve