Oracle expands IoT cloud portfolio
September 7, 2017
Oracle has expanded its IoT cloud portfolio to help its customers gain intelligence and speed RoI from connected assets.
The Californian software company has added features to its IoT cloud such as built-in artificial intelligence (AI) and machine learning that powers digital twin and digital thread capabilities. As such, its customers and partners can quickly gain operation-wide visibility and leverage predictive insights from connected assets.
These insights can decrease deployment times, reduce costs, improve business outcomes and accelerate new market opportunities. Combining the power of Oracle’s IoT cloud and enterprise applications, the company has introduced options for digital field service, smart connected factories and digital fleet management.
“The IoT holds the potential to transform today’s siloed operations into a modern, interconnected, digital set of workflows with real-time visibility and responsiveness,” said Bhagat Nainani, group vice president at Oracle. “Oracle continues to push the boundaries of IoT to help our customers significantly simplify their IoT deployments. By receiving real-time data streams enhanced with predictive insights, they can reach new levels of intelligence and a much quicker realisation of RoI.”
This expansion follows the recent introduction of IoT cloud applications for asset monitoring, connected workforce, fleet monitoring and production monitoring. Also, in the past six months, Oracle has more than tripled its IoT application ecosystem of device and systems integration partners. The IoT cloud is offered both as software-as-a-service applications and platform-as-a-service offerings, enabling a higher degree of adaptability.
“Hitachi Consulting is constantly looking for industry leaders like Oracle to help clients and prospects harness the power of data and IoT to optimise operational and financial performance, outpace their competition and solve significant business problems,” said Garth Carter, vice president for North America sales at Hitachi Consulting. “Our longstanding, strategic relationship with Oracle delivers industrial IoT solutions to digitise the physical world for manufacturing, energy and transportation.”
Hitachi is using Oracle’s asset monitoring and production monitoring applications that are engineered to meet industry and functional needs.
“These applications have a depth of OT, IT and IoT functionality that no competitor can match,” said Carter.
Digital twin is a digital representation of a physical asset or equipment that enhances traditional analytics approaches. The object model includes multi-faceted views into current, historical and predictive data, as well as operational and behavioural dimensions of that asset. This lets remote users not only monitor the health of that asset to prevent failures before they occur, but also run simulations of what-if scenarios in the context of the business processes. With digital twin, organisations have an operational paradigm to interact with the physical world, allowing lower operational and capital expenditures, reducing downtime and optimising asset performance.
Supply chain practitioners have spent millions of dollars in implementing SCM and ERP systems, but most often, data are manually fed into these systems. Digital thread is a connected business process framework that leverages IoT and creates a system of systems by connecting traditionally siloed elements in real time throughout the digital supply chain.
By providing an end-to-end view of an asset throughout the entire manufacturing lifecycle, digital thread seamlessly bridges the entire supply chain process from product design and order fulfilment, to manufacturing and product life cycle management, to warehousing and transportation, to logistics and procurement.
Built-in AI and machine learning features have been fully integrated across Oracle’s IoT portfolio. These technologies leverage machine data in the context of business data from applications, such as manufacturing, maintenance, service and logistics. The built-in operational analytics help detect anomalies, predict equipment failures and recommend the best course of action. They also provide the intelligence needed to evolve capabilities to increase effectiveness and experiences of applications.
The IoT industry portfolio helps users reimagine and innovate business services for the connected, intelligent, context-aware, digital enterprise. Added options include:
- Digital field service: Showcases intelligent remote monitoring, failure prediction, over-the-air repair and dynamic technician dispatch. It features IoT asset monitoring cloud, CX service cloud, CX engagement cloud and CX field service cloud, plus the use of augmented reality for guided equipment repair.
- Smart connected factory: Demonstrates how incident detection, root cause analysis and smart resolution are performed within minutes in a connected factory. This features IoT production monitoring cloud, SCM cloud and ERP cloud, and the use of virtual reality to navigate the manufacturing floor. It can also be used for remote worker training.
- Digital fleet management: Showcases real-time shipment tracking, risk management and logistics synchronisation. This features IoT fleet management cloud and Oracle logistics cloud.