Are You Leveraging Data to Improve Your Business? with Tim Quinn of ThingTech
The future of business is driven by actionable data, with IoT solutions playing a key role. Tim Quinn, CEO of ThingTech, emphasizes the importance of understanding the data journey to improve asset utilization and maintenance. Custom IoT solutions are essential for unique business needs and achieving substantial ROI.
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Key takeaways
Actionable data is essential for the future of business.
Understanding the data journey is crucial for improving asset management.
Custom IoT solutions are necessary to address unique business challenges.
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The future of business is centered around actionable data. With so many IoT solutions and integratable platforms for automating and capturing data on processes in a company, the biggest inhibitor is knowing where to start. On today’s Industrial IoT podcast, we sat down with Tim Quinn, CEO and co-founder of ThingTech, a company passionate about IoT and how it is helping companies improve. Quinn is especially focused on the Industrial Internet of Things and solving problems for companies all over the world by pulling data from “things” like automobiles, work trucks, tools, machinery, or even construction equipment.
Quinn has found where companies struggle the most with understanding how many steps captured data goes through to provide valuable insight. After being collected, data is processed and analyzed for location information, diagnostic information, condition data, and any other useful or relevant information. Then, it’s used to predict asset failures, coordinate how to better utilize assets, and to better deploy assets and workforce according to people’s schedules and needs. In essence, accruing data can bring preventative and reactionary maintenance without a single human hand having to get involved.
ThingTech has found its best success in creating custom solutions for each kind of client, since no two are alike and each captures a unique data set. To truly get the most of an IoT solution, you have to have the end goal already set so the technology is a means to an end, rather than a band-aid correction. During interviews with clients, Quinn finds out what types of equipment they own, what their biggest challenges are and what issues affect both top and bottom line. Things like fuel consumption, theft prevention, capital replacement schedules, company spending, and asset leveraging can be used to make overnight returns on investments on equipment that ThingTech supports.
For more information on how your business can gain productivity, further leverage your assets, find mistakes you may be making in controlling your assets, and what’s new and exciting in the industrial world of IoT, give this podcast with Quinn a listen.
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