Assessment result for Guest Company.
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Companies are pursuing – and achieving – business goals by implementing machine monitoring and optimization. Initiatives to monitor and improve equipment are resulting in increased profitability in the vast majority of companies. Companies that follow the best practices across Tech-Clarity's Pillars of Machine Monitoring and Optimization are more likely to significantly improve their company profitability.
Based on our analysis, Guest Company's IoT Machine Monitoring Capability is: Average
The Connect and Communicate Pillar focuses on the way companies plan and execute collecting equipment data for analysis and machine optimization.
Below, you can find your responses and how they align with our Five Pillars of IoT Machine Monitoring Capability.
IoT Machine Monitoring Capability Pillar 2 - Connect and Communicate
Top Performers have more mature practices for how they capture, pre-process, and store their machine data for monitoring and processing. They are much more likely to develop a standard approach for data capture, pre-process data (for example consolidating information through edge computing), and then store the collected information in a centralized data lake.
Guest Company's information
- Does your company have a standard way to capture and store machine data? Your answer: Agree
- Does your company pre-process data before storing or communicating it? Your answer: Other / I don’t know
- Does your company have a centralized data lake to store machine data? Your answer: Other / I don’t know
Recommendations based on our research
Our assessment shows that your company is Average in Connect and Communicate maturity. Improving this maturity is your company's Lowest opportunity for improvement.
1 Formalize your data capture and storage methods to help with repeatability and scalability.
2 Pre-process data to reduce data clutter and improve responsiveness by leveraging edge computing,
3 Store machine data centrally to consolidate information and provide a strong foundation to build analysis on.
IoT Machine Monitoring Capability resources for you
Read through our detailed report.
Next Steps to Improve IoT Machine Monitoring Capability
Leaders have higher IoT Machine Monitoring Capability maturity resulting in measurably better profitability.
Specifically:
- 86% of companies say profitability has increased by monitoring and optimizing machines
- 35% says it has increased significantly
Follow the recommendations in this report to increase your company's IoT Machine Monitoring Capability maturity and achieve these significant top- and bottom-line improvements.
For more information about the findings behind this assessment please see Improve Product Innovation and Profitability through Increased Digital Maturity.
Learn more about digital innovation maturity from our sponsor, Siemens.