The digitization of industrial sectors has become a priority for almost all businesses. Today, the term Industrial Internet of Things or IIoT has been used more pervasively to describe this phenomenon. What is it? In short, the IIoT is the Industrial Internet.
The Industrial Internet merges people working with advanced analytics and high-tech machines. It forms a whole network of devices that are all connected by communication technology. These devices will collect, monitor, analyze, and exchange specific and valuable insights unlike before.
For industrial companies such as the ones that manufacture bandsaws for use in manufacturing processes, the Industrial Internet of Things drives faster and smarter decisions for industrial leaders. The IIoT is a constantly changing industry that, in turn, changes the way industries work together. It helps enable analytics that can predict something like corrosion within refinery pipes so action can be taken immediately.
It provides real-time data so added production capacity can be found in a manufacturing plant. It also helps control cyber-attacks within the industrial system at large. It is changing business outcomes for the better.
The IIot combines machine to machine or M2M communication processes in band saw machines along with big, industrial analytics. It Is pushing forward incredible, unforeseen efficiency, production and performance levels. Industries like energy, oil, gas, healthcare, aviation, and manufacturing are all transforming as a result of the benefits both financial and operational of the IIoT.
According to GE Digital, the Industrial Internet of Things will continue to change the way industrial businesses work and succeed. Nearly 46 percent of the global economy will benefit from the IIoT. Approximately 44 percent of the Industrial Internet has an impact on energy consumption around the world and 100 percent of the IIoT impacts the production of energy.
Difference Between the Industrial Internet and the Internet of Things
There are differing perspectives on the Industrial Internet and the Internet of Things. One is focused on how the IIoT connects machines and devices to facilitate industrial production in oil, gas, power and healthcare. There is much more at stake in the event of system failure in these industries which is why the IIoT has to be protected against any high-risk, life-threatening events.
Conversely, the Internet of Things covers devices used mostly by consumers. Things like fitness devices or smart appliances fall in this sector. Downtime with these would be an inconvenience but not a total disaster.
The Industrial Internet, for instance, can manage machines at some point that tell operators how they can improve productivity. It can detect failures before they happen which can save billions of dollars for many companies each year. The Internet of Things will manage a household’s supply of dairy products before they run out, on the other hand.
The Industrial Internet brings critical machines together to deliver powerful operational and financial results. The IIoT as a concept is virtually limitless. The volume of critical insights from machines and devices connected in the IIoT is also limitless.