2014 ARC Industry Forum: The information-driven enterprise
Andy Chatha, president of the Arc Advisory Group, opened day 2 with remarks on the forum’s theme, “Industry in transition: The information-driven enterprise,” focusing primarily on the Internet of Things, cyber security, and interconnectedness.
Andy Chatha, president of the Arc Advisory Group, opened day 2 of the 2014 ARC Industry Forum with remarks on the forum’s theme, “Industry in transition: The information-driven enterprise.” He addressed the importance of the Internet of Things (IoT), discussing interconnectedness and the challenges of implementing an IoT strategy – cybersecurity, in particular.
Here are some key points from Chatha's opening remarks:
- This year's ARC Industry Forum boasts more than 160 speakers and panelists. It's the largest forum to date.
- Systems, information, things, people are connected by processes that help with business transformation. The IoT uses intelligent assets, devices, products or machines, data communications and infrastructure, analytics and software, people, processes, and systems. Most IoT building blocks are already in place.
- Cyber security is the biggest concern on everyone's minds. Other challenges include technology standardization, intellectual property (IP) ownership, and social and political complexities. Challenges are growing quickly as more devices become more connected.
- Why connect? Value benefits are many: Performance improves with less downtime and predictive maintenance, information sharing internally and externally, collaboration for better problem solving, and lower asset lifecycle costs.
- IoT provides a platform for innovation where customers pay for value not for products. Collaboration with suppliers increases to meet needs. For asset suppliers, field service is more productive with ability to fix problems remotely. Customers are better served, resolving problems more quickly, lower warranty costs, improve customer satisfaction.
- IoT Consortium in Europe has an architecture reference model.
- The connected plant shares information more quickly by putting it in cloud-based services. Data portions can be shared with product or service providers.
- Some suppliers offer dual interfaces for the plant network and infrastructure, such as asset management systems. Connecting measurements to the control system is expensive. Sharing information with asset suppliers can eliminate downtime and lower costs.