The Internet of Things, it’s so hot right now. Let’s face it, despite some security concerns, the sheer data collection capability is too attractive for most enterprises to pass up. In fact, according to a recent study 64% of supply chain managers have an IoT strategy in effect or currently plan to adopt one. But leveraging IoT devices to collect data is one thing, effectively turning that data into understandable, actionable information is another.
This presents an interesting opportunity for IT matchmaking: IoT and prescriptive analytics. While current IoT analytics standards require the infrastructure to support near real-time translation, once the data is compiled into a readable format it must then be translated for the less IT-savvy. By adding prescriptive analytics into the equation, the process is taken a step further. The more advanced prescriptive analytics solutions are able to not only interpret the collected data, but determine a recommendation based off of those insights and put it in front of the right person, in plain English.
Consider the following use case, from the supply chain example mentioned earlier: a warehouse supervisor is responsible for ensuring that while a shipment of heat sensitive products awaits transportation, it must be kept at a particular temperature. Using a combination of IoT devices and prescriptive analytics, the supervisor will be informed of how to exactly adjust the temperature over the course of storage, based on historic pick-up and drop-off times. The information would be delivered directly to the supervisor, without any technical ‘mumbo jumbo’ to add confusion. This, ultimately, will reduce cooling / heating costs, which can save a company a fortune in the long run.
While the courtship between the Internet of Things and prescriptive analytics is still in its early stages, IT decision makers need to consider the benefits of integrating the two technologies. The most successful pairings involve seamless collection of data combined with simple end user adoption, and in that regard it is a match made in heaven. If you’re interested in learning more about prescriptive analytics and its capabilities, feel free to reach out here.
The post IoT and Prescriptive Analytics: Will They or Won’t They? appeared first on Profitect.
