INDUSTRY SOLUTIONS

The Value of IoE data in Healthcare:

With a growing aging population and the prevalence of chronic diseases across the world, there is an urgent need to find new ways to improve patient outcomes, increase access to care, and reduce the cost of medical care. Advancements in sensor technology, the ubiquitous availability of cellular technology, and falling costs of embedded communication devices are opening new channels for improving patient care and quality of life.

Imagine having the right information, at the right place and at the right time. Data powerful enough to make critical care decisions.

An individual person, for example, may own multiple smart devices that each produce their own unique types of data. Each of these data sets can help providers understand a narrowly defined trend – how a group of patients is controlling their blood sugar or which hypertension patients are losing weight on a certain diet. Individual devices send signals that contain valuable data points, but it’s the combination of multiple streams of data that will bring greater value to healthcare providers. When that individual owns multiple devices, providers can assemble a multifaceted portrait of their overall health and treat that enhanced vision of the individual as a new, larger data point.

Bottom line, when lives are at stake and every second counts, rich information sharing between patients, clinicians, medical records, devices and machines in real-time will help eliminate errors and duplicate efforts, better inform diagnoses, and ultimately improve patient outcomes.

IoE in Fleet Management:

Fleet Management Systems recommend the optimal speed for a route and how to get the most mileage out of each gallon of fuel. GPS-equipped systems track driver routes, time spent loading and unloading and help manage hours of service compliance.

Today's trucks travel interstate highways with onboard sensors to collect, send, and receive information via a cloud-based fleet management system. However, as technology advances, the truck will become a part of the broader Internet of Everything (IoE) logistics ecosystem and could transform trucking and the logistics industry.

With IoE logistics, tracking and tracing goods becomes faster, more accurate, predictive and secure; while analytics from a connected fleet can predict asset failure and schedule maintenance checks automatically. Connecting drivers and delivery personnel with surrounding vehicles and people can help monetize and optimize empty “deadheads” to drive efficiency gains.

IoE in Retail:

The largest potential value for IoE in retail is the ability to view key performance indicators (KPIs) through an information dashboard and the ability to gain insights through “Big Data." By improving their machine-to-people (M2P) capacities with predictive analytics, retailers could realize more value from connected marketing and advertising, the second-largest area of IoE Value at Stake, by improving the chances that personalized offers and ads will resonate with customers.

IoE in Asset Management:

Communicating with assets is nothing new. Through predictive maintenance, we have remotely managed machines for many years. However, in the IoE world, assets collaborating with each other, through big data, can improve performance, operations, and maintenance schedules. Using an array of embedded monitoring tools, assets can consistently communicate the state of their thermal properties, lubrication levels, oil testing, vibrations and other key indicators of asset health. This data helps asset management teams spot deficiencies before they lead to unscheduled downtime.

One of the most visible ways is how the IoE facilitates mass data collection from assets throughout the value chain. If a certain component or subassembly of an asset is starting to perform at a suboptimal level, the asset itself will stream that data to a central system where maintenance managers can see it and put in a work order for repair before the asset fails completely.

IoE in Energy:

Energy companies have among the largest IoE potential value. Smart Grid, is based on the ability to monitor and manage equipment proactively, which is a strong point for energy companies. Many utilities are looking to modernize their electrical grids to make them more efficient, safer, and more responsive to changes in energy demand. Utilities can accomplish these goals by creating a smart grid — an electrical grid with an integrated digital communications network. Smart grids can help utilities moderate their output with real-time data and predictive analytics, handle “bidirectional flows” from sources such as solar power, and make grids safer through automated fault detection.

What is a Smart City?

Quite simply, smart cities use IoE devices such as connected sensors, lights, and meters to collect and analyze data. The cities then use this data to improve infrastructure, public utilities and services, and more.

Cities that embrace the Internet of Everything (IoE) can create value by saving money, improving employee productivity, generating new revenue (without raising taxes) and enhancing citizen benefits.

Cities can generate long-term value from IoE by solving a municipal need.

  • Road pricing could generate new revenues by implementing automatic payments as vehicles enter busy zones of cities, improving traffic conditions and raising revenues.
  • Smart parking could provide citizens real-time availability of parking spaces across a city. Residents can identify and reserve the closest available space, traffic wardens can identify non-compliant usage, and municipalities can introduce demand-based pricing.
  • Smart buildings lower operating costs by reducing energy consumption through the integration of HVAC and other security and monitoring systems.
  • Gas monitoring could reduce meter-reading costs and increase the accuracy of readings for citizens and municipal utility agencies.
  • Water management could connect a household water meter over an IP network to provide remote information on use and status.

"There are some fairly simple, immutable truths that each of us should keep in mind, truths that apply equally to political parties, organizations and corporations alike:

  • If you connect it to the Internet, someone will try to hack it.
  • If what you put on the Internet has value, someone will invest time and effort to steal it.
  • Even if what is stolen does not have immediate value to the thief, he can easily find buyers for it.
  • The price he secures for it will almost certainly be a tiny slice of its true worth to the victim."
Excerpt from Bryan Krebs; KrebsonSecurity (January 2017) blog titled Krebs’s Immutable Truths About Data Breaches