Published on 03/01/2017 | Market Sizing
Wondering what type of data analytics companies are investing in today? The Digital Analytics Association Germany (DAAG) recently published the Industrial Analytics Report 2016/17 based on interviews with 151 analytics decision-makers in industrial companies.
They findings were primarily confirmations of common themes - but these are valuable in themselves.
[1] 79% of respondents see predictive/prescriptive maintenance as the most important application in the next 3 years
[2] Increased revenue is the biggest (anticipated) value driver for Industrial Analytics projects
[3] Customer/Marketing analytics and visual analytics tied for the 'crowd favorite' application
But something's not right in data-land... 60% of survey respondents claimed to be good at collecting sensor data, yet only 32% feel that they are getting the RIGHT insights.
The most common missing ingredient? Agile methodology. Iterative testing and cross-functional communication is too often missing from implementations.
Early IoT solution providers tended to opt for the 'throw s--t against a wall and see what sticks' strategy. There is a better way.
Bosch Software Innovations has developed the
as a simple framework to transform use cases from concepts into solutions. We applaud the house's sturdy German construction.
According to Veronika Brandt, manager of this team at Bosch Software Innovations: “Addressing IoT-specific aspects, like the intricacy of a partner ecosystem with complex value chains, is extremely important in the IoT. [...the IoT Business Model Builder] serves as a guide through the process of defining the components of the business model. Usually, the input is the formulated idea and the output is a business case.”
As of February 26, IoT ONE has featured 726 case studies. For every use case we ask the author to tag 3 of 16 enabled capabilities. "Data Acquisition & Management" dominates with 58% of case studies tagging it. The runner up? "Asset Tracking & Monitoring" is tagged in 39% of cases.
In January we mapped the data acquisition architecture of 8 case studies through interviews in our January IIoT Spotlight. Let me know if you have questions, or if you want to feature a solution in a future edition. We're always on the lookout for interesting solutions.
A few IIoT use cases such as "predictive maintenance" are becoming household names (at least in my house). But most use cases remain vaguely defined. Case in point: Demand Response Utility Management.
We are launching an initiative to standardize how we talk about use cases. First we collect all the use cases where we have proof of a real-world implementation. We then define the data, systems and goals in this simple formula backed by a deep dive explanation:
This use case uses data from a, b, c... with systems x, y, z... to achieve goals 1, 2, 3...
Think this is a great idea? Get in touch to contribute your expertise to specific use cases. Think it's a terrible idea? Let us know why and how to improve the concept! In either case you can reach me at erik.walenza@iotone.com.
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