FAQ Page

FAQ Page

The best way to articulate your IoT Deployment success is to use an IoT Target Outcome Statement.  A Target Outcome statement is as follows “We will to improve the Target Area from the Current Value to the Target Value by the Target Date resulting in the Target Return.”  There are 5 key TO components:

  1. Target Area – this is the focus of your business optimization or market differentiation.  For instance – factory floor yield, assets to be tracked, sales to be increased, etc.
  2. Current Value – is the current value of the Target area – could be a number, a percentage or monetary value.  The key is that it is a quantity.
  3. Target Value – is the improved value you want to achieve and is expressed using the same metric as Current Value.
  4. Target Date – this is the date the Target Value will be realized.
  5. Target Return – this is the monetary value of improving the Target Area from the Current Value to the Target Value.  Identifying and correctly quantifying the Target Return is key for your IoT Business Plan Financials (ROI calculation) and motivating your IoT stakeholders.

The sensors you will use in your IoT implementation will be selected based on what is needed to detect or measure the root cause of your IoT Target Outcome area.  For example, your IoT Target Outcome could be to increase your manufacturing yield from 92% to 98% by December 31, 2017 realizing $1.2 million/year in savings.  You determine one of the root causes of the yield hit is one of your manufacturing machines has a higher than normal failure rate.  The root cause of the machine failure is bearing overheating.  Temperature sensors can be placed on the machine at key sensor points as well as ambient air sensors.  Collecting the sensor data and doing trend analysis over time can both provide alarm information, but should also provide failure prediction data that will drive proactive maintenance procedures.

It is vital to properly plan your Internet of Everything implementation prior to committing development funds or equipment capital. The best way to approach your planning is to identify the key Business Issue you want to target. This might be a Business Process Optimization or creating a Market Differentiation.  You can use the IoTaudit System to identify your IoE Target Outcome, Baseline your situation, define your IoE stakeholder Expectations, create your IoE Strategy Map and detail your IoE Implementation Task Plan.  All the information is at www.iotaudit.com