Practicing the Change
The world of engineering is all about data and the technologies that jazz around it. Various research analysts has projected the fate of engineering sector in the hands of Internet of Things (IoT) and data analytics that are changing the way of thinking and planning. IDC says there will be 28 billion sensors in use by 2020, with $1.7 trillion in economic value. The scale, breadth, and business value will exceed anything seen in the past. Just imagine a few billion sensors, tossed across a remote location, sending messages 60 times a second or one per minute. The scale of data that engineers will have will be astonishing. With equally staggering analytics tool, engineers would be able to extract viable insights, which were once hidden in the dark corner of unstructured pile of data.
Even the manufacturing industry is on the cusp of IoT revolution. IoT is radically improving the visibility in manufacturing to the point where each unit of production can be “seen” at each step in the production process. Batch-level visibility is being replaced by unit-level visibility; laying a path for the dawn of smart manufacturing. The scope of data within both engineering and manufacturing industry is huge. Executives can stay in tandem with their factory operations and enhance the efficiency and growth of the company as a whole.
Talking about the trending technology, cloud is the one spinning the wheel of innovation in the business world today. Cloud is more associated with the operational expenditure side, motivating organizations to move their on-premise IT infrastructure over a centralized network of cloud. Various firms across the world have jumped on the bandwagon of cloud and IoT to execute the industrial automation and optimize the processes.
IoT is pacing through various industries and IT sector has to make sure it stays level with the smart technology. IT department is responsible for sustainable implementation of smart devices, protecting the firm’s datasets and enhancing the collaboration quotient of the workflow. From the business perspective, CIOs need to communicate the projection and growth of IoT to stakeholders in a language that makes sense to them. It’s upon the IT executives to commoditize IoT and enable senior managers to have long term vision for the CAPEX in the growing economy. With the excitement that accompanies new technologies come the concerns of IT security too. It is up to security leaders to ensure the security of data and assets to maintain the trust and efficiency around the factory floors and headquarters.
In the years to come, the digitization of industries will keep on expanding at an accelerating pace. But still this revolution, where IoT will be a major element, will be around the data. For engineering sector, it will be a shift from mechanical effort to the information effort. Data will be used as the chief asset to explore new opportunities and make better business decisions. I think the coming decade will be very interesting where the delivery models and revenue models will change drastically opening the gates for more data focused business practices.