Let’s talk about your data options with predictive algorithms – Stacey on IoT | Internet of Things news and analysis
Predictive algorithms make up a huge number of IoT success stories today. Generally applied as a way to predict failures or as a warning to provide maintenance in the near future, companies ranging from elevator makers to oil refineries are using predictive algorithms in their operations. But it’s come to my attention that not all predictive algorithms are the same, and figuring out what each of them are comprised of offers a window into how IoT is maturing in the industrial setting.
While IoT has become all the rage in the last decade, factories of every stripe have had continuous monitoring in place to detect equipment failures for much longer. In such situations, companies would apply physics to the problem of predictive maintenance. (If a piece of metal has x tensile strength, then if temperatures exceed y it will bend or break.) But now companies have the option of adding much more data and applying machine learning to an algorithm to create what are known as data-driven algorithms. Read more…