The Most Impactful Business and Industry Benefits of IoT
On this episode of the Industrial IoT Podcast, Adam Livesay, co-founder, and CEO at Elevāt.IoT, joined host Geoffrey Short to discuss how businesses and industries are blending this technology into their machines and getting value out of it. Elevāt.IoT specializes in connecting fleets of machines and enabling the flow of data between operators, distributors, and OEMs since 2015.
How can business owners and decision-makers use this technology to better improve their workflows? Livesay said businesses first need a strategy on what problem they are trying to solve. Once they know that, they need to put an IoT team into place.
Livesay said businesses are recognizing the ROI from IoT. There’s an evolution of comprehension since 2015 around what IoT can accomplish and the ROI it can bring to a business.
“Deployment,” Livesay said, “has gone down from 18 months for a successful production deployment, to less than six months.”
Short asked Livesay how Elevāt.IoT has utilized this technology. Livesay provided an example of working with nut companies to put IoT on their tree shakers to generate significant process improvement data never before available to them.
Livesay sees a great opportunity in collaboration of information share throughout the whole ecosystem of industrial machines as the evolution of IoT. With the costs of deploying IoT going down tremendously over the past few years, now is a great time for businesses to explore their IoT strategy.
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