ΙοΤ (Internet of Things) / INDUSTRY 4.0 - WHAT IS IT AND WHY IS IT IMPORTANT
Internet Of Things is a term that describes solutions that involve great numbers of smart systems that include co-engineered interacting networks of physical elements that include embedded communication and sensor technology and technology to allow interaction with the environment) as well as computational elements (such as gateways, servers, software, cloud connectivity, portable devices). The goal through this interaction is to gain greater value from these elements but also to create new services by exchanging and analyzing data and metadata with the manufacturer, the operator, the end user and other networked or connected elements.
A company that can deliver successful IoT solutions, either industrial IoT (ΙΙoΤ) (IIoT is very closely related to Industry 4.0, almost synonymous), with an emphasis on the production of a product or a consumer IoT with an emphasis on "consuming" a product, must have powerful know-how at all stages of an IOT solution cycle, starting from the field (instruments, sensors, actuators), moving to secure communications networks, local computing and storage systems, cloud computing and storage systems, mobile systems (tablets, smartphones), in data analysis software and of course software development itself.
Through a ΙΙoT solution, the following can be achieved:
- Immediate update of the performance level from each piece of equipment and production line
- Collection of Operational data through IOT and data analytics
- Development of strategic planning that boosts profitability and performance in the context of sustainability
- Increased decision-making and projects prioritizing capability
Algosystems, which approaches technology in a holistic way and is active in both automation and IT, is ideally positioned to engage with IOT, on which it has been working for the past 15 years and has completed several projects of mainly industrial IoT (IIoT).
Algosystems Automation business unit has been working on field technologies such as instruments, sensors, actuators for years, on automation and control, on SCADA and machine-to-machine solutions and of course installing and supporting very large similar solutions in sectors such as heavy industry, highways, building automation etc. meeting Industrial IoT requirements. Also, the IT and Communication unit has been involved for years, with secure wired and wireless networks, cloud solutions and computing and storage solutions. Finally, Business Software unit has been developing for many years business software, software that covers the needs of banks, insurance companies and coastal shipping companies, also covering, among others, anomaly detection and fraud detection needs and other types of data analysis. So, Algosystems views its IOT involvement for years as a natural development, having an important international partner ecosystem that enables it to successfully meet its customers' needs. Furthermore, Algosystems employs staff highly experienced in automation and IT technologies, that is continuously trained in the gradual integration of IoT philosophy, technologies and practical applications into existing automation structures with new and modern IoT equipment, placing emphasis on new standards of Industry 4.0.
The key element in IoT is the production of new value for all involved in the implementation of a IoT solution. IoT unlocks new dimensions of automation and improvement, either in production or in product utilization, and promotes new forms of existing business models to new dimensions, or produces fully innovative business models.