Transforming IoT Data into Actionable Insights
The Internet of Things (IoT) offers significant potential for businesses by providing actionable insights from data. Tim Quinn, CEO of ThingTech, discusses how IoT can be used to improve asset utilization and tackle real-world operational problems. The podcast emphasizes the importance of transforming data into action for business efficiency.
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Key takeaways
IoT data must be analyzed to transform it into actionable insights.
Practical IoT solutions can significantly improve asset utilization and reliability, with reported improvements of up to 46%.
The digital transformation journey with IoT should be pragmatically rolled out, focusing on streamlining processes.
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The Internet of Things can seem as nebulous as the individual pieces of data that embody it, but Atlanta-based ThingTech is looking to highlight interconnected technologies of the modern business world as it kicks off this inaugural episode of the Enterprise Asset Intelligence Podcast. Host Daniel Litwin sat down with Tim Quinn, CEO and co-founder of ThingTech to discuss ways that business owners can roll out practical, pragmatic IoT solutions for business big and small.
What’s helpful to remember about introducing IoT within a business is that it’s often a journey, not a destination, like many other emerging technology rollouts.
“This is about how to start that digital transformation journey,” Quinn said.
In his 25 years in the industry, Quinn has seen IoT vastly impact the efficiency of companies, regardless of the industry.
“Whether it’s IT or IoT, it still puts out ROI,” he said, pointing to a 46 percent improvement in asset utilization and reliability.
But the challenge comes with analyzing data from multiple systems, he said. “Data is only data until it’s analyzed or processed,” Quinn said. “So capturing the data is one thing, transforming that into action is another.”
In future episodes of the podcast, Quinn will discuss ways that actionable data solves real-world operational problems, including deep vertical business application around asset management, maintenance, inspection, and capital planning.
“I think we’ll show that IoT doesn’t have to be overly complex and engineered,” he said. “It can be streamlined to be less scary.”
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About the author
Daniel Litwin is a journalist of multiple disciplines focused on finding and telling engaging stories for B2B communities. He has interviewed executives from Fortune 500 companies including Honeywell, Microsoft, John Deere, and Chipotle, and leads editorial direction at MarketScale. Litwin hosts weekly shows and podcasts while helping develop new content approaches across the MarketScale platform. He holds a B.J. in Radio/Television Reporting/Anchoring and a B.A. in Spanish from the University of Missouri-Columbia.
