Leveraging automation and IoT technologies can transform your company’s tomorrow by connecting your existing machines to Microsoft’s Cloud and unlocking insight that would otherwise be untapped. New Signature Advanced Analytics experts have experience generating revenue and modernizing data processes for business across many different verticals.
One challenge to the IoT solution implementation is that 71% of IoT project get caught in what we call “pilot purgatory” and are never optimized and rolled out to scale, which leads to decreased benefits.
When an organization can build the solutions to scale, and optimize every detail of production, they can create a surprising amount of excess revenue. Here are the top three business cases that our Advanced Analytics experts have identified has being the most lucrative IoT implementations:
- Product Quality Optimization: You can utilize scaled automation to predict, reduce and eliminate errors in variability. For example, eliminating even 1% weight variability in a food product can save a food processing operation up to $1M or more per year.
- Predictive Maintenance: Improve machine downtime and stabilize your business continuity by being fully engaged with your existing machines on a real-time basis. A 5% reduction of machine downtime can equal out to be a $200K savings annually.
- Production Line Optimization: With enterprise-scale automation implemented, production lines can significantly reduce cycle time, increasing volume, surpassing quotas and, with even a 30 second per cycle improvement, experiencing $300k savings per year.
New Signature has worked to develop an infographic that outlines the strategy and benefits of a properly implemented IoT solution. We focus on scale and automation to develop cost-saving modernizations specific to your unique business cases.
If you believe that IoT solutions can enhance your business and generate revenue streams, connect with our gold-level Advanced Analytics experts to begin your journey.