IIC Journal of Innovation 6th Edition - Page 37

Spotlight on the Industrial IoT Analytics Framework
INTRODUCTION
The Industrial Internet Consortium ( IIC ) recently published the Industrial IoT Analytics Framework ( IIAF ). The release of this IIC technical report marks a milestone in addressing the concerns surrounding industrial analytics and its importance in the Industrial Internet of Things ( IIoT ) applications and services . Industrial analytics is a key means of achieving the objectives of IIoT applications . Industrial analytics may be broadly defined as a discipline transforming data into information and the creation of business value and insights in the context of industrial operations . Without creating value or insights , there is little purpose in collecting data .
THE IMPORTANCE OF INDUSTRIAL ANALYTICS
Business leaders have increasingly recognized the importance of industrial
analytics . A recent survey ( see Figure 1 ) carried out by IoT Analytics GmbH 1 found that 69 % of the surveyed business leaders or industry analysts consider industrial analytics crucial for their businesses within 5 years and want to apply analytics to strengthen their businesses . The same survey found that analytics on physical objects and machines rank high in importance . Predictive and prescriptive maintenance of machines ( at 79 % of surveyed considering it extreme or very important ) ranks at the top , slightly surpassing consumer and market related analytics ( at 77 %).
Industrial analytics enables a better understanding of an industrial system ’ s operational states , performance and environment . It identifies and analyzes emerging information patterns to enable industrial system assessments under varied conditions . There has been a great deal of development on analytics in other domains ,
Figure 1 : Importance of industrial analytics considered by business leaders and industry analysts
1
Knud Lasse Lueth , Christina Patsioura , Zana Diaz Williams and Zahra Zahedi Kermani , “ INDUSTRIAL ANALYTICS 2016 / 2017 ”, IoT Analytics GmbH , December , 2016
- 36 - November 2017
Spotlight on the Industrial IoT Analytics Framework analytics. A recent survey (see Figure 1) carried out by IoT Analytics GmbH 1 found that 69% of the surveyed business leaders or industry analysts consider industrial analytics crucial for their businesses within 5 years and want to apply analytics to strengthen their businesses. The same survey found that analytics on physical objects and machines rank high in importance. Predictive and prescriptive maintenance of machines (at 79% of surveyed considering it extreme or very important) ranks at the top, slightly surpassing consumer and market related analytics (at 77%). I NTRODUCTION The Industrial Internet Consortium (IIC) recently published the Industrial IoT Analytics Framework (IIAF). The release of this IIC technical report marks a milestone in addressing the concerns surrounding industrial analytics and its importance in the Industrial Internet of Things (IIoT) applications and services. Industrial analytics is a key means of achieving the objectives of IIoT applications. Industrial analytics may be broadly defined as a discipline transforming data into information and the creation of business value and insights in the context of industrial operations. Without creating value or insights, there is little purpose in collecting data. Industrial analytics enables a better understanding و[[\X[\[x&\›\][ۘ[]\\ܛX[H[[\ۛY[ ]Y[YY\[[[^\™[Y\[[ܛX][ۈ]\[XB[\X[\[H\\Y[[\\YYۙ][ۜˈ\H\Y[HܙX]X[ق][Y[ۈ[[]X[\XZ[HHTԕSHшHTPSHSUP\[\›XY\š]B[ܙX\[BXۚ^YH[\ܝ[Hو[\X[Y\H N[\ܝ[Hو[\X[[[]XۜY\YH\[\XY\[[\H[[\ŒB۝Y\HY] \[H][\K[HX^[X[\[ZHZYH\X[K8'STPSSSUP M̌ M'K[[[]XX X[X\ MH ͈ Bݙ[X\ M