Business Insider recently published a report predicting a total of 22.5 billion IoT devices in 2021, (15.9 billion more than the reported 6.6 billion in 2016) and $4.8 trillion in aggregate IoT investments over the next five years. These projections might seem astronomical, but in all reality, they make perfect sense when you note the outstanding benefits these devices deliver to various industries.
William Penn said it best, “Time is what we want most but use worst.”
In competitive markets like construction or oil and gas, a company’s success lives and dies with their ability to finish projects on time, within budget and without issues. Mismanaged time chips away at profits and can stop a company from being able to move quickly from project to project. One of the greatest challenges companies are facing today, is how to cut resources and maintain or grow production. When site managers don’t have to track down equipment scattered across job sites manually, they gain back billable hours. Pairing GPS technology with smart sensors to monitor and remotely control powered equipment reduces wasted time and increases the bottom line. Here are three ways your team can essentially “do more – with less.”