How to make the most of your data
In the majority of IoT applications, the data collected is typically utilized to support a single use case. However, if an organization is connecting its assets and harnessing resulting data, numerous opportunities exist to leverage this data in multiple ways without significant investment in technology. Simple and cost-effective IoT platforms are available, which allow organizations to creatively apply business logic to asset data and leverage it across the enterprise.
The benefit of Business Rules Management in the IoT
When collecting device data, greater benefit is received by sharing the information with other parts of the organization, such as warranty management, quality control, product development, business development, etc. To leverage data across the enterprise, business stakeholders from multiple segments of the organization must have the ability to apply domain specific business logic to the data themselves. With the proper software for Business Rules Management in place, stakeholders from multiple areas of the business can write their own algorithms and process the data independent of the traditional IT development processes. This allows business stakeholders to independently integrate device data into their business processes within hours – not months – enabling organizations to quickly realize the value of IoT.
To achieve this situation, one in which IT dependence is not needed for business rules development, integration and processing, the BRM platform must have an appealing and user-friendly graphical interface. The need to create or update rules can occur often due to a changing business climate, customer demands, or market factors. As a result, users should be able to easily manipulate rules – by simply dragging and dropping different scenarios into the software, such as “if temperature goes above x and machine is y years old and last serviced on z, it is no longer under warranty.”
In addition, your BRM platform should have a set of standard integration points so that data can be pushed into business systems such as Materials Requirements Planning, Enterprise Resource Planning and order management systems. With a robust BRM tool, a business can apply rules that connect and correlate business system data with device data. For example, if a machine continues to fail, the technician can automatically receive specific training modules based on the machine data to be able to better operate the machine. It also could generate a service ticket auto-ordering new parts based on the machine’s 12-month service history. By integrating all of this data, an organization can achieve significant improvements in operational efficiency while elevating the ROI.
Empowering the users
An organization will see the greatest overall impact when users continuously fine tune the system with updated rules that reflect current needs and the business climate. To do this, organizations must empower users to document business requirements into production independently, and users must recognize where the potential exists to gain additional value and process the data accordingly.
How about you – can your organization’s stakeholders apply specific business logic to data independently?
Read how an agriculture equipment manufacturer and a fleet service company drastically changed the way they process machine and device data by utilizing powerful Business Rules Management capabilities. Leveraging BRM software, both organizations can now utilize relevant data rapidly and effectively drive business opportunities.