In episode 81 of the IoT For All Podcast, VP of Marketing for MachineMetrics Graham Immerman joins us to talk about data democratization and its role in manufacturing. He shares how companies are using data to improve ROI and some of the trends he’s seen in the IoT space, where data is concerned.
Graham joined the marketing industry as the digitization of the field began and was excited to take part in the evolution of the manufacturing industry. He quickly became an authority on digital transformation and the application of IIoT technology for the manufacturing industry and is an accomplished leader and start-up veteran with extensive experience in marketing, growth strategy, and business development.
To start the episode, Graham introduced us to MachineMetrics, a company that is accelerating industrial digital transformation by providing a platform to collect data from any piece of manufacturing equipment and transform it into actionable applications to reduce downtime, optimize capacity and drive increased throughput and profitability for factories.
Companies that come to MachineMetrics, Graham said, come in various stages of their buyer journey. Some have no idea what the capacity of their machines are, or know where there are problems and are looking for greater transparency to solve them. But even for companies that think they know how their machinery is operating, Graham said that they’re often a little off.
“The most prevalent surveys in the industry say that manufacturers are operating closer to 75-80% of their capacity and machine utilization. But MachineMetrics can tell you, because we’re connected to thousands of machines across the world, that that number is closer to 25%.”
That’s where MachineMetrics can help. One of the most common Applications Graham said they tackle is merely helping companies understand what’s going on in their manufacturing processes and figuring out accurate measures of the cost of manufacturing parts. “The objective,” Graham said, “is to make more parts better, faster, and for less. Being able to see when that’s not going to happen, or when it’s failing in real-time is essential. You can recalibrate your expectations.”
Or, in some cases, a better understanding of machine capabilities and capacity can lead to huge cost savings. Graham said that one company he worked with had just placed an order for $14 million worth of equipment, but when they realized that their existing equipment was only at 22 percent capacity, they were able to cancel that order and focus on the processes instead.
What MachineMetrics really focuses on is data democratization. “The value of data can not be understated,” Graham said, “especially in our current times.” The goal of data democratization is to enable anyone to use data to make better, more informed decisions, without barriers to access or understand what that data means.
One of the top challenges facing data democratization is the existing structure, the way data is stored and consumed, means that it’s often in silos. Gathered and accessed by IT departments, traditionally, when it could readily benefit marketing, operations, and supply chain as well.
“That data,” Graham said, “is now made not just available, but consumable. And the value of data democratization is not just opening a data lake – it’s transforming that data into usable models.”
To close out the conversation, Graham shared some of the challenges that come with data democratization and how that and automation will affect the labor force long-term. He also shared his views on the current state of IoT, some of the trends he’s been seeing, specific to manufacturing, and some of his advice for companies looking to start their IoT journey.
Interested in connecting with Graham Immerman? Reach out to him on Linkedin!
About MachineMetrics: MachineMetrics is accelerating industrial digital transformation by providing an intuitive and flexible platform to easily collect data from any piece of manufacturing equipment machinery and transform it into powerful, actionable applications that reduce machine downtime, optimize capacity, and drive increased throughput and profitability for factories.
Key Questions and Topics from this Episode:
(01:07) Introduction to Graham
(02:26) Introduction to MachineMetrics
(05:00) What does the typical customer engagement look like?
(11:05) Can you share any Applications?
(15:11) What is data democratization and how is it driving new business and increasing revenue for organizations?
(21:53) What challenges come with this trend toward data democratization?
(28:03) What do you believe is the current state of IoT? What trends are you seeing and how is COVID-19 affecting that?
(34:47) What should we keep an eye out for on the horizon for MachineMetrics?