The Industrial Internet of Things (IIoT) is more than just a technology story. Putting the right systems and infrastructure in place is key but technology alone is not enough.
There is a significant need to carry out failure prevention using data-driven truths rather than guesstimates. The combination of mechanical and process induced breakdowns costs up to 10% of a worldwide $1.4 trillion manufacturing market per a 2012 report from The McKinsey Global Institute.
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