Setting KPIs for IoT monitoring with intelligent connectivity
Effective usage and deployment of your IoT starts with getting intelligent insights for business KPI setting
The Internet of Things (IoT) revolution is all around us, and a wide variety of applications and solutions have entered the market, from remote monitoring of farmlands and factories to fitness- or healthcare-related devices that keep track of individual data.
The array of potential implementations and configurations of IoT solutions can be overwhelming, and one of the best ways of keeping a firm grasp on IoT deployments is using Key Performance Indicators (KPIs) to anchor performance, monitoring and the ensuing business value. Setting KPIs for IoT investments with intelligent connectivity insights can help enterprises make informed business decisions.
Business performance metrics for all
KPIs for IoT applications, networks and devices are meaningful if a robust performance monitoring toolkit is put in place and metrics are available regularly and measured accurately. It is essential for the IT team and the lines of business to work together on setting the right KPIs.
Take for example, a leading clean energy provider who was tasked by the authorities to strike a balance between supplying conventional energy to the national grid and providing minute-to-minute, real-time data of its solar energy production.
It set KPIs for real-time monitoring of solar inverters, revenue meters and irradiance sensors, ensuring the operations team had visibility on energy produced for their analysis, as well as to provide information required by the authorities.
By setting realistic KPIs, the company delivered higher business value to energy production by accurately logging and anticipating solar energy available to the grid.
Deep visibility with intelligent dashboards
A large part of the success of IoT performance monitoring depends on deep visibility and insights into the data collected by sensors and devices. An intelligent analytics layer that can make sense of that data and trigger alerts with automated corrective measures is also important, given the sheer number of connections and data generated with the influx massive amounts of devices.
A relevant use case will be a logistics company using an intelligent platform to maintain a reliable and uninterrupted cold-chain operation. The AI-powered dashboard enables the company to monitor the routes and conditions of mobile, refrigerated products using a combination of IoT sensors and on-demand IoT networks. It autonomously adjusts levels of service and cost to ensure adequate temperature, humidity, and location monitoring to ensure successful and timely deliveries. Without human intervention, the platform optimises the collection of relevant information, identifies potential disruptions, and recommends possible contingencies.
Performance measures, alongside connectivity insights, thus need to be baked into the design process in any IoT implementation.
Though there is no “one-size-fits-all” approach to setting KPIs, having deeper insights from all that the data generated will help businesses make informed decisions in this connected world.
Learn more about Singtel’s AI-powered IoT network cloud services.
Speak to our IoT team to find out more.Speak to our IoT team to find out more."This ‘new’ network is not only the future of IoT but also the future of digitally transforming your business."
