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

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

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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:

  1. 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.

  2. Best-in-Class firms are twice as likely to integrate manufacturing systems with IoT data.

  3. 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.  

  4. 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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