WHAT ARE THE ADVANTAGES OF USING THE INTERNET OF THINGS (IOT) IN INDUSTRY?

Nowadays, the industry has to adopt many novel technologies to remain competitive in the market. The Internet of Things (IoT) is increasingly popular among businesses in many domains. A wide range of IoT devices is available, ranging from barcode scanners and printers to RFID tags and proximity sensors. How can these devices benefit your industry?

Internet of Things – artistic interpretation. Image credit: Alius Noreika / Copilot Designer

What is the Internet of Things?

The term Internet of Things (IoT) is used to describe a network of physical objects or “things” embedded with sensors, software, and other technologies with the goal of connecting and exchanging data with other devices and systems over the internet.

These objects connected into a unified network range from everyday household items to sophisticated industrial tools. The integration of IoT allows for greater automation, efficiency, and the ability to collect and analyze data in real-time, leading to smarter and more responsive environments.

How does the industry benefit from using the Internet of Things?

Many fields receive direct benefits from the use of IoT, and the industry is not an exception. Here are the main advantages of integrating this technology into daily industrial routines:

• To begin with, IoT devices allow for automated, real-time data collection. This helps to avoid human mistakes and save time. More data is also provided for informed business decisions.
• Connected machines constantly provide data about equipment performance, enabling managers to evaluate equipment effectiveness and increase productivity. Data on equipment health allow for planning maintenance and cutting down on downtime.
• Furthermore, machines may perform many menial and repetitive tasks, liberating human capital for other duties.
• IoT devices make production more visible. Supervisors may better monitor factory activities and identify any weak spots in the production line.
• Automated manufacturing processes reduce the number of quality defects. As a result, customer satisfaction and business reputation increase.
• Finally, IoT lets businesses decrease manufacturing costs. While standard processes rely on slow and error-prone manual work, automated processes offer greater speed and efficiency.

Let’s look into the main broad aspects where the Internet of Things can make the largest contribution to the way industry conducts its operations.

Automotive industry, car manufacturing – associative photo. Image credit: Carlos Aranda via Unsplash, free license

1. Improved operational efficiency

The concept of the Internet of Things is inseparable from the widespread use of sensors. These smart electronic components continually monitor equipment health and performance metrics, analyzing data to predict potential failures before they occur. This proactive approach minimizes unplanned downtime, maximizes equipment lifespan, and reduces maintenance costs over the long term.

Predictive maintenance schedules allow for optimized resource allocation and workforce planning, ensuring that maintenance tasks are performed efficiently.

By automating repetitive tasks and workflows through IoT-enabled devices, businesses can streamline operations and boost productivity. This automation greatly reduces human error and also accelerates processes, leading to faster throughput and increased overall efficiency. Additional benefit is that IoT-enabled automation systems can adapt dynamically to changing conditions, optimizing resource utilization and minimizing waste in real-time.

2. Enhanced productivity

With IoT devices providing real-time data on asset performance and operational metrics, managers can monitor operations remotely and make informed decisions on the fly.

This level of visibility and control allows for proactive intervention to address issues before they escalate, minimizing disruptions and maximizing productivity. Furthermore, IoT-enabled management systems often incorporate predictive analytics, enabling preemptive actions to optimize processes and resource allocation for peak efficiency.