How to evaluate your plant’s digitalization using IIoT calculators

Before you invest in new tech, you need to know the benefits, risks, and timeline of the return on your investment. In that respect, Industrial IoT services aren’t any different from other disruptive technologies in a traditional market.

Before these technologies proved their reliability, benefits, and ROI, people had to test them, apply them in small applications and discuss them extensively before they finally became solid market solutions. For instance, today wireless and digital communication are integral to daily business, with known applications and benefits.

In IIoT, you can find many services that solve issues in all industrial segments. Every service can provide multiple benefits, depending on the application, and together, IIoT cloud-based services bring relevant data for better plant operation. But the ROI will vary from project to project, because each project has individual factors that influence the results.

So how do you find the ROI? To easily visualize the costs and returns of your new application, you can use an Industrial IoT calculator. These tools quickly answer questions and provide overall information about the application.

Let’s dive deeper into these calculators.

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Get better asset management in your plant

How many devices do you have in your plant today? For many of you, this question is simple. Now, how many of those devices are from Brand A or Brand B? And how many are already obsolete? That’s harder to answer.

Without knowing the answers to these questions, you have to make assumptions about the plant’s operation and maintenance risks. An industrial plant with many instruments creates complicated spare-part management.

If a device is obsolete and you don’t know it, when maintenance time rolls around, you may lack the parts you need, and the work time may double or even triple. IIoT services, such as Netilion Analytics, are ideal for helping with this management, reducing unexpected problems with parts, obsolescence, and so on.

Simulate your scenario using an IIoT calculator to find out how many critical and obsolete assets you have and how many of them are at risk. To learn more about how IIoT can help at your plant, we have an article that you may like as well.

How to improve workflow efficiency at your plant

Ever had to look for documentation or dig out a diagnostic to interpret it? Finding the right information can take a while if you don’t have good access to it. In the long run, it’ll cost your plant money as well as time.

Every device already has relevant information in it that can help you solve issues or prevent them from happening. Today we have simple ways, such as wireless and digital networks, to integrate these assets into the cloud.

Industrial IoT cloud-based services, like our Netilion Ecosystem, can easily display in a dashboard all the diagnostics collected from your field devices. This way, you can easily use Netilion Health to figure out the cause of and remedy for any problem.

Netilion Library will also help you find the proper document in the same platform. This access allows you to respond faster to incidents and reduce shutdowns, because you can investigate the cause and work on the problem before the process stops running.

Finally, it safeguards more than just your device’s technical documentation; your maintenance team can review calibration reports, pictures, maintenance schedules, and more.

Check out our Industrial IoT calculator to find out how to improve the workflow at your plant!

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