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How Will IoT Transform the Industry

How Will IoT Transform the Industry

In an increasingly connected world, things are getting smarter, making our lives easier, reshaping business models and the way companies operate. The Internet of Things, as one of the drivers of the digital transformation, sets the endless variety of strategic possibilities to grow business in any industry; from agriculture to the automotive industry.

The Industrial Internet of Things (IIoT) is a logical extension of automation and connectivity in the IoT, primarily in the area known as machine-to-machine (M2M) communication. It empowers companies to utilise technology better than ever before; combining computers, machines, smartphones, virtualised systems, and cloud storage of the data. Millions of sensors allow machines to speak to us and to each other via the Internet, enabling industries to create a seamless data flow - from the client orders over operations to business planning - from sensors to embedded processors, accelerated communication networks, operator and user interfaces. Along the way, all relevant data is seized and deposited, providing companies to pick up on inefficiencies, save time, reduce cost and support business intelligence efforts. In a nutshell, IIoT drives a transformation by allowing access to a huge amount of data in the real-time and processing them from factory to the management office. Recipients of this information can take the actions or analyse them further to create meaningful reports.

Furthermore, IIoT changes the landscape of how businesses gather and analyse data across nearly every industry and sector. Collected data can be easily accessible through the web and mobile application from anytime-anywhere. Operation managers can get insight into the production process, including notifications about the inventory status or warning on the potential component failure. Executives can analyse performance and results on their mobile phone while heading to the meetings or business trip. A truly win-win situation for all.

One of the examples of the Industrial Internet of Things application is Ready2Wash, a self-service carwash software solution, built on the top of WolkAbout IoT Platform. The technology of the entire carwash system is mapped within the WolkAbout IoT Platform, and it enables monitoring, automation, monetisation and reducing maintenance costs for self-service carwash owners. At the same time, this solution allows carwash end-users to enjoy the convenience of mobile payment when washing their car. Ready2Wash also helps in understanding carwash end-users and their typical behaviour in order to improve service and increase the value both for self-service carwash owners and customers.

Self-service carwash owners are benefiting from the Ready2Wash solution in numerous ways. Firstly, this solution enables near real-time monitoring and management of all the aspects of carwash facilities, including getting alerts if any part goes beyond operating threshold or in the event of a malfunction. Moreover, carwash owners are able to analyse the financial performance of the carwash system in real time, allowing them to have the insights into the accurate financial standing the moment any payment occurs. Furthermore, self-service carwash owners can also track financial data over time, and be able to utilise this data as a real field performance feedback through time. In the end, Ready2Wash web portal provides a deep view into a carwash end-user behaviour depending on different variables (i.e. localisation, part of the day, a day of the week, weather conditions, etc.), helping owners to understand customers typical behaviour and create tailor-made marketing campaigns and loyalty programs.

On the other hand, monetisation module of WolkAbout IoT Platform enables mobile payment for carwash customers and participation in the loyalty program, which are available through Ready2Wash customer web portal and iOS and Android apps. Both web portal and app navigates customers to the nearest carwash facility, allowing usage of services by spending tokens instead of coins. Virtual tokens buying process is easier and more secure. Lastly, end-users can join marketing and loyalty campaigns and earn gifts and bonuses.

 

To sum up, any technological evolution will cause disruption and change the business environment as we know it. The Industrial IoT may just be the current step in that evolution, but it is a significant one. Companies are already seeing its benefits and how they can leverage from the world of connected devices. WolkAbout understands the high-performance demands of innovation and helps companies in building connected products and services that will deliver transformative business value.

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