Connecting your machines to the industrial Internet of Things (IoT) is a great first step toward collecting and analyzing data, making informed decisions about your equipment, increasing revenue and reducing downtime. But what’s next once you’re connected? Take the data you’ve collected about your devices and use automated artificial intelligence (AI) to build predictive models and generate forecasts.
You might think that’s an advanced-level industrial IoT innovation, and generally you’d be correct. Limited technical knowledge and expertise in AI and machine learning creates a barrier to entry for most businesses. But with a solution like Insights Hub, Siemens’ industrial IoT as a service solution, and its Insights Hub Predict application, empowering your decisions based on AI and machine learning is easier than ever.
How exactly do AI and machine learning relate to the industrial IoT? Let’s take a look.
What are artificial intelligence and automated machine learning?
On the most basic level, AI analyzes data and creates forecasts. Machine learning is a subset of AI that enables a machine on the shop floor to automatically improve at tasks with experience.
Diving a little deeper, we use AI analytics to parse through the data we’re collecting and help find trends in that data – and more importantly, start to predict what’s going to happen. That is, having the computer do the work for you from the data that you’ve collected. Machine learning happens at the machine-level itself, when the machine has some ability to learn on its own, to keep track of its own data and processing, and learn from its own mistakes.
Take this one step further with time series data and forecasting. Time series data is data captured in a linear fashion over a period of time, for example January to December. By leveraging time series data, AI can start to calculate what’s potentially going to happen based on future events and their correlations with past data.
Forecasting for anyone
The industrial IoT – powered by a solution like Insights Hub– provides simple AI-powered analytics that are easy enough for any organization to get started. AI and machine learning are more accessible than ever for businesses, including forecasting and anomaly detection tools.
What kinds of things can you do once you have AI capabilities? Forecasting capabilities include:
Predictive maintenance scheduling. Take advantage of AI and machine learning to understand how your IoT-connected assets are trending and spend less time manually scheduling maintenance or monitoring assets.
Early detection. Leverage forecasts to predict when your assets will need maintenance before they break down or fail in the field.
Resource planning. Identify opportunities to streamline production processes and asset performance in the field, thus ultimately designing improved products faster.
Benefits of automated machine learning and Insights Hub Predict
With AI and machine learning capabilities you can begin leveraging data to learn more about your machines and making better, more informed decisions. If you’re looking for an easy-to-implement solution, Insights Hub Predict is a simple and powerful tool that gives users the ability to:
- Simplify configuration of machine learning engine for improved advanced analytics
- Perform and scale forecast and anomaly detection
- Execute comparisons for model evaluation and deployment preparation
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