Smart, connected products enable four new categories of capabilities that create breakthroughs in differentiation and operational effectiveness, improve customer experience, and enable new revenue streams.
To capitalize, manufacturing firms must rethink nearly everything they do—from how products are designed, and sourced, to how they are manufactured, sold and serviced, to putting in place a whole new kind of IT infrastructure.
- Slow pace of product and service innovation
- Inefficient identifying up-sell and cross-sell opportunities
- Inability to identify and manage the configuration of fielded products, systems, and assets
- Limited visibility into product performance, usage, environment, and quality
- Inability to aggregate, analyze, and visualize operational intelligence across systems, assets, and people
- Inability to quickly re-configure manufacturing systems and introduce new smart technologies
- Inability to get real-time correlated data from proprietary systems and heterogeneous equipment
- Difficult to incorporate data from existing business systems and external sources in IoT applications
- Poor capture and management of quality-related feedback causing repeated problems
- Difficult to track quality and identify root cause
- Rising service and warranty costs
- Poor product/equipment performance or unscheduled downtime
- Low service level agreement (SLA) compliance
Joy Global – Improving service and increasing productivity
Joy Global’s existing business processes required customers to work through an unstable legacy system to collect mass volumes of data.
With inadequate processes and tools, field level analytics were not sufficient to properly inform business decisions.
Read the Joy Global Case study
The “golden egg” for us is where we can provide a service to our customer in such a way that increases productivity and ultimately manage his fleet for him completely – James Wilson, Product Manager – Joy Global
The ThingWorx platform has enabled Joy Global to optimize their remote monitoring and analytics processes around connected devices, allowing them to:
- Anticipate failures
- Efficiently respond to equipment problems reducing equipment downtime
- Reduce the cost of mining resources
- Improve the safety of the site and human capital
- Optimize mining production