The Internet of Things solution market is mixed and confusing. Regardless of whether your company is ready or not, the Internet of Things has changed the way companies make money from products.
To achieve profitability goals, you need to make technical changes, but also need to make changes in strategy.
To help business leaders understand the need to make changes when adding more connected products to their portfolio, PTC has developed an interconnected product maturity model. The maturity model is based on best practices collected over several decades in collaboration with hundreds of product manufacturers in almost all industries.
PTC's leading IoT and augmented reality (AR) platforms and field-proven solutions now combine the physical and digital worlds, reshaping the way companies create, operate, and maintain products.
Interconnected Product Maturity Model
The interconnected product maturity model describes the capabilities that the organization needs to have in order to achieve value enhancement through smart connected products, factors that need to be considered, and requirements that need to be met. This model can help business leaders more vividly understand how resources can be allocated from large areas to create value quickly.
Level 1: Not Connected
Non-interconnected manufacturers are subject to many restrictions because they cannot effectively connect people, processes and things. Find out when and then determine what features you need to design, deliver, and maintain new products. Next, connect.
Things to consider: Basic enablement, network connectivity, security, intermediary services, cloud services, application development, and other device management capabilities are the requirements that must be addressed when starting an interconnected product program.
Requirements: Embedded software, network communications, device protocols, material supply, real-time data processing, advanced
Web services, security, data management.
Level 2: Internet
Once connected, companies can begin to gain new ways to achieve growth and sustainable services. Interconnected product services typically generate a steady flow of income, but only a small amount of fixed capital is needed and there is an opportunity to achieve higher profits.
Things to consider: Encourage the development of solutions that adapt to change and allow the application to utilize rather than hinder the increase in manufacturing equipment.
Demand: Level 2 requirements can be met by connecting the product to a network (Internet, cellular, or satellite) and transmitting the data back to the enterprise server or system for processing.
Level 3: Services
Each product in the company's product portfolio requires a certain level of service and support that needs to be enabled by enabling remote access to identify, diagnose, and resolve maintenance issues.
Things to consider: The most effective solution is to provide a secure and scalable platform to process and store machine data and provide applications to implement remote services.
Requirements: An IoT platform that supports application development. The platform needs to include a set of tools to monitor assets, enable remote access, and remotely manage processes/content. This solution needs to be able to handle issues such as hosting, security, and scalability. It also requires a flexible application programming interface (API).
Level 4: Analysis
At level 4, IT focuses on analyzing data and developing user-oriented tools and applications to facilitate data analysis, insights, and business function improvements.
Things to consider: An enterprise-class IoT platform with built-in analytics and dashboard building tools will help your team find actionable insights in IoT data.
Requirements: Data from connected products needs to be organized and stored in a way that is easy to report and analyze.
Level 5: Integration
Manufacturers who reach Level 5 will find that the real “gold mine†of the Internet of Things is to acquire data from connected products and integrate with enterprise systems (CRM, ERP, PLM, or data warehouse). This can optimize key business processes, such as closed-loop product lifecycle management and fundamentally "Internet of Things."
Things to consider: The ThingWorx IoT platform optimizes business processes by delivering IoT data from connected assets to CRM/ERP/PLM systems, thus forming a framework for integration with business systems.
Requirements: First, IoT data must be integrated with other systems. Second, IoT data must provide added value by combining information from connected products with information from complementary sources and systems to enable people and processes to collaborate and realize more value.
Level 6: Innovation
Level 6 is the ultimate goal of a product or device-driven business. In other words, develop a new customer experience to achieve a new stable revenue stream through the Internet of Things and Augmented Reality (AR). Innovation is achieved by enabling end users and customers to completely subvert their experiences through smart connected products.
Things to consider: A purpose-built IoT platform enables innovators and developers to use AR to build immersive experiences that change how users create, deliver, and service products.
Requirements : The organization needs to be able to create custom applications that can enhance product functionality. Application leaders and developers need to be able to receive technical data from the product.
Case Study: Flowserve's Internet of Things Opportunities
Flowserve is a global supplier of industrial fluid control pumps for more than 200 years. When the company tried to determine its best IoT opportunities, the need for predictive maintenance peaked.
Flowserve needed a way to connect pump equipment, enhanced predictive maintenance data, and maintenance professionals. Using a pump, ThingWorx IoT platform, sensors from National Instruments, and HP High Performance Computing Edgeline Systems, Flowserve designed and built a closed-loop, self-learning fluid control system that can be monitored without human intervention. , Detect and correct fluid control.
With Flowserve's IoT-enhanced pumps, users can get more than just sensor readings. They will also receive insights to tell them how to respond. Machine learning puts numbers in the context of analyzing data, and then transmits this data to an easy-to-use interface that can be connected on-site or remotely over a network.
in conclusion
Whether the organization is new to the development of connected products or upgraded to the top level of the interconnected product maturity model, the specially-built IoT platform can simplify the conversion process, reduce resource requirements and shorten the time to get revenue.
The ThingWorx IoT platform can connect products, analyze data for users and customers, implement IoT solutions and applications, manage connected devices, and create new disruptive experiences for users and customers.
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