how to valorise machine or device data

With insights and analytics from real-time and historical data, teams can react quickly to operational issues and often anticipate them themselves before they occur, improving customer uptime and reducing maintenance costs. The Capture IoT platform centralises real-time and historical data from machines, devices and assets, which provides a complete overview of operational performance and helps detect trends and anomalies. Bringing different data sources together in a single platform improves efficiency and supports proactive management of all devices.

Benefits of centralisation

• Full overview: Live and historical data in one place = one single source of truth
• Trend detection: Easily identify trends and patterns
• Data integrity: Better control over data quality and consistency.

Capture offers the ability to log timeseries data at a rate of up to 1 millisecond. This means that even the most detailed information from a machine or device is captured very accurately. Moreover, Capture can also log operator and image data and link it to the timeseries data, which provides visual and meaningful context for the logged data and helps with quick defect detection or operational insights.

Importance of timeseries, image, and operator data:

• Accuracy: Highly detailed data logging.
• Process optimisation: Improvement of fast and complex processes.
• Problem solving: Faster identification and resolution of problems.
• Visual context: Better interpretation of timeseries data through visual support of linked image data.
• Defect detection: Faster identification of product defects.
• Enhanced analysis: Combined data analysis for deeper insights.

With Capture, users can build and customise intuitive dashboards tailored to their specific needs and roles within the organisation. Tools such as Grafana and Power BI enable data to be presented clearly and accessibly, allowing users to quickly gain insights and take action.

Dashboard capabilities:

• Customisation: Dashboards tailored to specific user roles.
• Accessibility: Simple and clear presentation of data.
• Actionable insights: Quick access to crucial information for decision-making.
• Easy: Quickly set up dashboards using the no-code, low-code approach.

Just as humans detect patterns and anomalies in data on dashboards, an (AI) algorithm, can also detect anomalous behaviour. Those insights can be integrated into a software application that acts as a 'smart sensor', continuously monitoring current operations and indicating whether or not anomalous behaviour has been detected. With Capture's advanced analytics, machine or device builders can turn raw data into actionable insights. This leads to new metrics, improved operational efficiency, process optimisation and often the inspiration for new business models.

Benefits of advanced analytics:

• Insights: Deeper and actionable insights from raw data.
• Efficiency: Improved operational efficiency.
• Innovation: inspiration for new business models or applications.

As a machine, device or asset builder, you are constantly faced with a jumble of systems of hardware or software. It is then important that - if applicable - these can be quickly and reliably integrated into a central data platform. With a flexible and open IoT platform, you can thus quickly set up new use cases:

• Set up data connection and flow of a new machine
• Designing, developing and implementing new metrics that turn raw data into actionable insights
• Detecting and analysing patterns from many data sources or devices simultaneously that may indicate an imminent failure, for example.
• Responding to events as they happen, or even earlier if you use predictive models.
• Automate responses even without human intervention

Use case capture in action

• Instead of responding ad hoc to maintenance issues or conducting service visits according to a strict schedule, a service team could now respond based on proactive system alerts.
• That improved service then increases customer satisfaction as there are fewer downtimes and the machine or device performs optimally.

Servitisation is an interesting business model where machine or device builders can generate new revenue streams based on collected data. But beware: quick profits via servitisation are no guarantee. Services such as preventive maintenance, for example, are difficult to valorise. For an end customer, preventive maintenance means an 'upfront cost' anyway, which is sometimes difficult to negotiate, especially with customers familiar with reactive maintenance.

A phased approach to valorising your data:

• The quick win: Offer a better short-term service, a lower service cost, or guarantee less downtime. Don't assume that a customer is going to pay for this. This is mainly a cost controller for yourself.
• Medium-term: Make meaningful machine or device data available to your customer. Install a local data connector that the end customer can plug into (free or paid), or consider developing a customer portal.
• Long-term: Build targeted knowledge around a set of problem scenarios that users often face. Pour that knowledge into an app to increase user autonomy and self-reliance. That is the real money maker and is the gateway to servitisation.

Logging machine, device or asset data with Capture's IoT platform opens up unprecedented opportunities for machine builders. By centralising data, integrating timeseries and image data, using flexible dashboards and applying advanced analytics, machine or device builders can discover hidden insights and improve their operational efficiency.