There are 7 trends in the technology space that should be of interest to this audience.M2M refers to machine-to-machine communications, where machines talk to each other, inform humans, and make decisions themselves.Data refers to the trend of data science, which processes “big data”, as it’s called, and visualises the insights in an intuitive way.Open refers to open source, which increasingly powers systems and commercial software today. Open source hardware is an emerging trend too.Social refers to social media and social commerce, which allows your stakeholders to engage with you collectively.Mobile refers to leveraging the pervasive presence and increasing intelligence of hand-held devices.Cloud refers to cloud computing – consuming computing power like a metered utility.Crowd refers to crowd sourcing – leveraging the wisdom of the masses, in which a crowd is wiser than any one person.I cannot do justice to all of these topics today. So I will just spend one minute on each, telling you how people are using these, and where you can go for more information. I will spend a bit more time on two of them– data and cloud – as having significant potential for you.
M2M, as I said, is about machines communicating with machines. It’s about intelligent sensors, with computing power, connected to the network.Here's a good example. A railroad company in the US bought equipment to repair ties to their tracks,expecting that the gear would work for a certain amount of what's called "track footage." After the embedded analogue counter reported several early failures, the OEM provider installed satellite modems on the equipment to monitor usage. In doing so, the company discovered that the counter was not calculating usage correctly, and that the tie repair equipment was operating within specifications; saving the manufacturer and its customer significant time and money.Moreover, the same manufacturer was able to offer a South Texas heavy excavation company key insights into where their operations could be improved that would otherwise have been undiscovered. Back in 2008 when diesel prices hovered around $5 per gallon, satellite monitoring systems were able to show that operators had consistently idled their back hoes for up to four out of six hours of usage. The reason, it turned out, was the employees were keeping cool in the air conditioned cabs when waiting for their work to start, and thus turning the heavy equipment machinery into one of the most expensive climate control assets the company owned. This monitoring service ensured the manufacturer was not only an even greater trusted advisor, but diverse in its income streams.Source: http://www.industryweek.com/articles/how_satellite_tracking_systems_can_both_save_and_make_money_21304.aspx?SectionID=4In India: Madhya Pradesh State Electricity Board. Radials International. ONGC (identified vents leaking methane, saved 15m cft of methane. 5 month payback period)http://www.globalmethane.org/expo/docs/postexpo/oil_chakraborty.pdfThis is a simple economic argument. The cost of intelligent sensors is falling. The cost of the network is falling. The cost of computing the information is falling. It is increasingly cheaper to monitor and understand the functioning of devices...
I will share...<br />But first...<br />ESSENTIALS<br />QUESTIONS?<br />Things you should be doing<br />without second thought<br />What would you like answered?<br />What is of interest to you?<br />TRENDS<br />If there<br />is time<br />Things you should keep a<br />strong look out for<br />