Smart Connected Operations in the Era of IoT: The Asset Management Edge

Created: June 20, 2017
Updated: March 20, 2020

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Smart Connected Operations in the Era of IoT: The Asset Management Edge

Using the Internet of Things (IoT) for connected operations allows manufacturers to operate more efficiently. As demonstrated by Best-in-Class organizations, this strategy allows businesses to make better informed decisions more quickly and with less associated cost.

Key findings include:

Operational efficiency pressures are driving Best-in-Class manufacturers toward connected operations. 43% of organizations cite the need to reduce costs, and 31% cite the need to drive revenues.
Best-in-Class firms are twice as likely to integrate manufacturing systems with IoT data.
The need to connect and monitor assets is driving IoT users to enterprise asset management. 40% of firms cite the need to control equipment reliability and to understand device failure to improve future efficiency.
A connected operations strategy pays off. IoT users perform twice as well as non-IoT users, in both business operations metrics and in decision-making metrics.

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