| dc.description.abstract | The evolution of the Industrial Internet of Things
(Industrial IoT) and the increasing availability and
affordability of constituent technologies such as sensors,
gateways, networks, platforms, and analytics brings with it
new opportunities for industrial operators to connect once
isolated plant equipment and obtain real-time information on
asset operation and asset health.
The benefits, such as improved operating performance,
higher availability and less unplanned downtime, from
connecting plant assets into an Industrial IoT system are
clearly magnified in the case of critical and costly rotating
equipment such as pumps and compressors.
As well as a valid and ROI-friendly technology investment
for plant operators, Industrial IoT enables rotating equipment
suppliers to stay connected to their assets and, consequently,
develop new and lucrative business models, where service is
not an afterthought as with the conventional product sale, but a
much more significant component of the supplier offering and
one that not only drives new revenue streams but also enables
much deeper and longer customer relationships.
The asset connectivity enabled by Industrial IoT is
increasingly enhanced by advances in analytics technology,
particularly machine-learning based solutions, which means
basic remote monitoring evolving to much more sophisticated
predictive maintenance solutions. The early warning of
equipment issues and expected failure triggers timely
intervention, avoiding the disruption and expense of sudden
downtime. | en |
