Thinking Ahead: Extracting Value from IIoT Devices through a Purpose-Built Platform

04 Feb Thinking Ahead: Extracting Value from IIoT Devices through a Purpose-Built Platform

With the growth of Industrial Internet of Things (IIoT), Gartner predicts that 2.8 billion devices will be connected by 2020. Industries that have invested in connected devices are challenged with extracting value from the high velocity of data derived from a variety of sensors and source systems.

IIoT vendors have developed applications to manage the data flowing from their hardware. However, these applications do not necessarily interact with third party devices. This significantly diminishes the ability for industrial enterprises to “intelligently” manage the deployment, operation, maintenance and lifecycle of a fleet of devices from multiple vendors. The burden to maintain the functional health of these devices rests solely upon the asset owners.

Enabling Actionable Intelligence through a Purpose-Built Platform

An alternative approach is to look at how a purpose-built IIoT platform can help organizations better prepare for the data tsunami – brought forth by the digital age and the ubiquity of internet-connected people and devices constantly communicating with each another – and provide more efficient and effective management of connected devices.

A purpose-built IIoT platform is designed to specifically integrate extremely large volumes of operational data from a variety of disparate sources, correlate that data into a common data model, and apply machine learning that provides a contextual understanding. Such systems are capable of ingesting the equivalent of a week’s worth of global Twitter activity within minutes, which is no small feat.

Companies like Bit Stew Systems are doing just that on an industrial scale. Bit Stew’s MIx™ product portfolio takes the complexity out of big data by unifying billions of traditionally siloed data points across complex industrial environments. Using predictive analytics, pattern recognition and dynamic event management, MIx provides organizations a single, unified view of their operations, assets, network systems, enabling them to better monitor issues and manage risk, identify efficiency improvements and create data-driven automation.

Last year, Blackstone Technology Group became a Bit Stew Systems Certified Delivery Partner and is jointly pursuing opportunities in the utility and oil & gas markets – as well as showcasing Bit Stew’s technology to Blackstone’s current clients. Together, Blackstone and Bit Stew are able to deploy an advanced management tool that solves the problem of unreliable and unpredictable behavior of industrial operations.

Developer Network to Codify Industrial Knowledge

The velocity of the industrial internet is shaping the way organizations respond to the endless and quite often unique use case challenges. The outdated practice of using IT vendors to develop expensive applications over long build cycles are being replaced by a need to rapidly create turn-key applications in days to weeks, not months to years.

This agile requirement requires a set of tools, training, models and community engagement to codify industrial knowledge and turn them into rapidly executable applications to extract immediate business value. Bit Stew’s MIx Developer Network (MDN) enables partners like Blackstone to rapidly design intuitive, efficient and cost-effective applications that easily integrate with existing technologies to deliver real business value.

Data-Enabled Applications Accelerate Time to Value

Heterogeneous IIoT growth is touching all industries and starts with good tools and processes. The attributes used to process business data from IIoT that drive business outcomes and safety are the same attributes used to manage heterogeneous IIoT devices in the field. However, the IIoT demands a much more organized approach provided by data-enabled applications to accelerate time to value.

In the IIoT age, industrial companies have the capability to track and manage real-time aspects of their business and assets, from processes and equipment to predicting when a critical component will fail. When fully leveraged, a well-built IIoT solution can provide users with significantly more intelligent control over assets. This will undoubtedly lead to new, unanticipated growth opportunities, efficiencies and rapid innovation. In many industries, newly connected devices open up new ways of data sharing that were not previously possible, or even imaginable.

The openness of Bit Stew’s MIx technology allows for the growth of new devices and expansion across new areas. Industries that have invested in the tools and processes can now be at the forefront of IIoT innovation, regulation, and compliance. Governing bodies can leverage the capabilities of IIoT devices for greater business outcomes that are quicker and more secure than ever before.

Ken Hans will join Bit Stew’s experts at DistribuTECH from February 9 – 11 in Orlando, Florida. Bit Stew will be providing in-depth demos of their MIx™ product portfolio. To learn how to reduce time to value for your organization, schedule your demo today and visit us in meeting room #1990 during the show. 

bio-ken
About Ken Hans:
Ken Hans is a Partner at Blackstone Technology Group and has recently been appointed as the Executive  Director of Blackstone Digital Services. Ken has a 12 year tenure at the firm and has been delivering a wide variety of digital solutions for clients in North and Latin America for the past six years. Ken is responsible for the strategy, business development  and delivery of Blackstone’s Digital services portfolio that spans across all commercial industry verticals. Ken began his career at Accenture in their Technology Services Practice where he helped to design, build, and manage delivery of both ERP and custom software solutions for clients. From there he worked for Siebel Systems where he assumed roles in both their pre-sales and sales divisions and garnered such awards as Customer Advocate of the Year, Beyond Expectations Platinum Award, and 100% Quota Attainment Club Winner. Ken holds a B.S. in Economics from the Wharton School of Business at the University of Pennsylvania.