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How is Lat-Lon Connecting You to the IOT?

As interest grows in advancing technology for transportation, the latest developments show significant incentives, and many articles stress quick adaptation. Over the past few years, content pieces have featured a few common themes: robotics (and artificial intelligence), virtual reality, and the Internet of Things (IoT). These technology developments have been influencing how different organizations operate and how they create products and services, individually and as a collective.  It is the IoT that has had some of the most practical applications and benefits.

The Internet of Things: An Introduction

Defined by Gartner, the IoT is a “network of physical objects that contain embedded technology to communicate and sense or interact with their internal state or external environment.” [1] This simplified explanation addresses a complex, interconnected system by identifying the two key characteristics of an IoT system: a sensor and a method for communicating the sensor’s data. Basically, the IoT is composed of devices that gather information and the systems that make use of that data.

As a result of its many applications, the IoT takes a variety of forms – and has already been integrated into professional and personal functions. For some types of connected devices, the sensors simply collect data and analyze it through a software solution, such as my smartwatch sending pedometer data to an app. I then choose how to use that data, to increase my steps, or accept my activity for the day. For other systems, the analyzed data is incorporated into a system that automatically takes action, such as purchasing a needed product or scheduling a maintenance appointment.

The Internet of Things and Industry

The IoT is transforming business processes and efficiency in a wide range of fields. From smart agriculture using farming drones [2] to location- and behavior-based targeting in advertising [3], Internet-connected devices are making permanent changes in how these groups operate. Solutions provided by IoT devices and software are being used to create improvements in more industrial fields, such as manufacturing, construction and transportation.

In one case, a global manufacturer of trucks used the IoT to add a brand new, related revenue stream to their business. They have outfitted sensors to their vehicles that will transmit over 10,000 points of data for each truck every day — all focused on predicting the vehicle’s maintenance needs. Going beyond alerts to needed checks and replacements, this integrated system will also auto-schedule repair appointments and order any parts that the vehicle will need [4]. By employing the IoT, the truck manufacturer was able to add to their profits while providing more services to their clients, saving them money and time in the repair process.

On the production end, Internet-connected devices and analysis systems are being used to make improvements in manufacturing quality and efficiency. Harley-Davidson’s manufacturing plant in Pennsylvania uses the IoT to track both equipment and processes. With more detailed, data-backed insights into each step of their manufacturing system, the plant has seen huge benefits: productivity has increased by 2.4 percent and net margin received a 19 percent boost [5]. The advantages for decision-making and process efficiency can be translated to nearly any industry.

And service industries are not immune to the benefits of IoT for route optimization, better customer scheduling, and optimal inventory on hand for maximum utilization time on calls.

The Internet of Things and Lat-Lon

The benefits of the IoT, reaching far beyond what is mentioned above, is significant particularly when it comes to improving current processes and products. Internet-connected sensors and devices provide greater visibility into every system with more precise data that has real-time relevance. From tracking inventory to making processes more efficient, this information can help industrial businesses adopt leaner operations and make better decisions.

With the flexibility of Lat-Lon’s customizable solutions, the industrial IoT is attainable to all sizes of business and offers significant ROI catered to the particular enterprise.  The industrial Internet of Things can also be used to improve safety, reduce downtime for maintenance, and control costs.

At Lat-Lon, we embrace the technology that makes IoT fit your needs and help drive the industry forward. We want to pass on those advantages to each of our customers, allowing them to improve operations, make better informed decisions, and increase their bottom-line. Our solutions are designed to connect any industrial asset to the Internet, bringing that data together under one convenient platform. Specifically, our fleet and asset management solutions connect various sensors to turn their data points into reliable information that will improve fleet visibility. We also use IoT technology to offer tracking and monitoring devices as well as storage tank systems. Contact us today to learn more about how a partnership with Lat-Lon and BSM Technologies brings the advantages of the IoT to your firm.

 

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What is IoT Technology & the Industry Benefits

The Internet of Things (IoT) is rapidly changing how individuals live and work. Its impacted your business regardless familiarity with the term or not, it’s used for the network of devices that gather information through built-in sensors and data shared via an internet connection. Connected devices provide a wide range of data types to optimize operations. For businesses, the IoT includes everything from location intelligence used by communications companies to monitoring wind turbines and tracking delivery vehicle performance. As the technology becomes more sophisticated, industries continue to find new ways to apply connected devices, with significant benefits.

Benefits of Industrial IoT Technology

The IoT offers significant advantages for industrial fields as data retrieved from connected devices allow businesses to reduce costs and improve productivity.  Actively monitoring maintenance needs and preventing work disruption, efficiency is the top byproduct. The IoT also facilitates leaner processes by tracking performance and usage of machines and materials to eliminate waste. Internet-connected devices and sensors can enable inventory tracking, assist to scale custom manufacturing, and detect anomalies in business processes. Business owners and employees can also use the technology behind the IoT to retrofit and connect old devices and machinery. Overall, connected sensors provide users with better data, allowing them to make better business decisions.

Evidence for the Benefits of Industrial IoT

One example of how the IoT technology is making beneficial changes comes from the transportation industry, where a global equipment rental company leveraged IoT devices and data to improve efficiency. By tracking performance and maintenance statistics in real-time, the company was not only able to reduce under-use of the rental equipment but also the time spent tracking that equipment by more manual means. As a result, the organization saved an estimated $10 million in revenue previously lost to waste.

The Internet of Things has great potential to improve efficiencies in a range of industries. Taking advantage of this connected technology increases a company’s productivity and revenue, while reducing wasted materials and time — all through data-backed business decisions. Though it may take time to identify the IoT solutions and systems that work best for a specific organization, it is well worth the effort to explore the benefits of internet-connected devices and sensors

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