The IoT Evolution Expo is the only Internet of Things industry event focused on Enterprise-level strategic planning and engineering-lead solutions to IoT and IIoT challenges. We have invited a world-class speaking faculty to join us and help provide our conference delegates with the critical business intelligence they need to formulate strategy for the next year.
We reached out to our speakers and asked them for a preview for their sessions to give you a little taste of what to expect at Caesars Palace in Las Vegas July 17 to 20 for the IoT Evolution Expo. To register now, click here.
Michael Riemer, VP Products and Channel Marketing, Decisiv, is a successful serial entrepreneur of B2B software and technology companies based in the Washington, DC area. He has more than 30 years of experience across a variety of industries. Riemer will be on our panel about Enhanced Supply Chain Management at the Expo with Ashish Chona of ORBCOMM and Sanjay Sharma of Roambee.
IoT Evolution World: What will be some key points you plan to hit during your panel?
Michael Riemer: My focus is on the role of Industrial IoT in supporting the digitalization of traditionally industrial markets. The tsunami of connected asset data has focused considerable attention on improving commercial and industrial asset performance and availability. But this flood of data has done little to solve service process challenges. There is no special magic when you connect your assets via IIoT – instead you need a focused effort to ensure the data is directly actionable and results in sustainable and valuable business outcomes.
IoTEW: What new insights can attendees expect to take home?
MR: My talk will focus on understanding the important differences between:
1. Knowing vs. Doing
IIoT information is an enhancement to, but not an enabler of effective asset service event management. In order to make a positive impact on service management, IIoT information needs to be combined with other information from service value chain participants and directly integrated into the repair process. In other words, knowing that something is broken or going to break does not ensure effective service management or increased uptime.
2. Lots of data vs. “Big Data”
The quality of the data captured before, during and after service events are just as important, or arguably more important, than connected asset data. Service and repair of commercial and industrial assets is a complex and dynamic web of connected assets, data, people, technology, and processes across multiple business entities. However, the siloed nature of the information, manual data entry and phone based communications and general information chaos limits the current value of the service event information while also delaying repairs.
3. Legacy systems of record and systems of engagement
The multitude of legacy technology and software solution are not just going to be ripped out and replaced (at least not overnight). Technologies, generally speaking, are also becoming increasingly specialized – IIoT, Machine Learning, Asset Management and what I like to call the rest of the IT Alphabet Soup. Few software companies focus on the importance of creating a layer of collaboration and communication without the need to replace all the legacy systems. It has been proven that systems of engagements, working in tandem with systems of record, make help transform service and repair into a strategic weapon.
4. Traditional IT projects and the top down, cross functional leadership required for IIoT related initiatives
A growing number of IIoT projects are failing due to lack of real senior leadership. To be successful, it is not a part time job, and it is not a job for a business analyst or process consultant, or a manager in services marketing, dealer development or IT. The complexity requires a new type of leadership that can easily cross department boundaries and have the authority to actually invoke real change.
IoTEW: Can you identify a few important trends influencing your sector of the IoT which will shape the path of the industry?
MR: Industry publications are ripe with hype on several technology trends – IIoT and AI (Machine Learning). There is a lot of money being spent by large companies, VCs and Private Equity firms and most media outlets find these terms “cool” and “sexy” – shiny objects that people like to talk about. More importantly, the focus should be on finding fast, cost effective solutions that leverage but replace existing systems and taking a phase approach with a focus on early wins and immediate value.
IoTEW: What are the biggest challenges facing the IoT? What are some important tools needed to overcome them?
MR: The biggest issue is hype vs. reality and unrealistic expectations. Several recent studies have pointed to high IIoT project failure rates,– the result of a bad combination of ineffective leadership, lack of focus on delivering end-to-end value and a poor understanding of the actual complexity of the issues to achieve their goals. All too often, we engage with a “prospect” after they have attempted (and failed) to build yet another siloed or single purpose application or they have spent several years (and millions of dollars) with a traditional IT application trying to fix a problem that they were never intended to solve. However, a new approach, called Service Relationship Management (SRM), is gaining significant momentum and delivery valuable business outcomes today. SRM is a strategic approach to asset maintenance that focuses on creating new digital relationships, using information from a variety of sources including connected assets, to create and strengthen customer-supplier relationships, drive improvements in asset and equipment uptime and performance, and enable more consistent and reliable maintenance processes.
IoTEW: Which vertical markets have the most to gain from IoT implementation?
MR: My time is spent mostly in the commercial and industrial asset markets (IIoT) – transportation, construction, material handling, and agriculture, but I have looked at manufacturing as well. These markets are aggressively incorporating IIoT into the purchase of new assets and equipment but many have stumbled with siloed, single-purpose applications as well as manual, phone-intensive communications processes that have limited the value of these IIoT investments. Volvo and Mack Trucks, Kenworth and Peterbilt Trucks, Hino (Toyota’s medium duty truck manufacturer) and others have adopted service relationship management – and with great results. For instance, by integrating their connected asset strategy into their breakdown center, dealer service and fleet engagement Volvo has been reducing triage more than 70 percent, lowering downtime more than 25 percent, and improving “fixing it right the first time” by more than 90 percent for several years.
The IoT Evolution Expo takes place at Caesars Palace in Las Vegas July 17 to 20. To register now, click here.
Edited by
Ken Briodagh
