Integration of IoT and Master Data

Sameera Nishat is a Program Manager at PiLog Group

All organizations today are aiming to have a continuous and seamless communications between their systems, people, customers, devices and other entities. The solution to such requirement could be achieved with Internet of Things (IoT) which is one of the leading technologies that is gaining prominence and has the potential to become a mandatory requirement for all organizations in the near future. This innovative technology has the potential to fill the communication gap between physical and electronic entities.

Internet of Things (IOT):

The term Internet of Things (IOT) includes everything connected to internet. In real time IOT is used by each object to communicate with other objects, devices or entities. The combination of these connected devices with an integrated automated system enables to get the required information much quicker as well as helps in taking the necessary decisions or perform appropriate actions at the right time. In other words it’s an embedded network which enables data collection and sharing between all entities connected to it.

With the Internet of Things (IOT), businesses have the power to develop intelligent,useful products and services. This technology helps to connect across various networks around the world, thereby creating a more connected world

Master Data and Internet of Things (IOT):

As IoT is fast growing, Integrating Master data Management (MDM) and IoT has huge potential in making use of the data much effectively. Integrating IoT and Master Data gives a better analytical and predictive insight.

As an example, Asset data of an organization, which includes the Asset profile, Service history, etc. could be used more effectively to predict the future performance of the asset. These insights will help prevent unplanned machine failures, thereby optimizing maintenance which resulting in significant savings and increased productivity.

Another typical example could be to use IoT to provide an insight about organization’s spare parts requirement plan or stock levels to the potential suppliers so that the spares are available at the right time with the right price. Organizations that offer better data insights to their clients/Partners will be benefited more.

It is worth mentioning here that the success rate of getting desired results depends on the accuracy of the Master Data. Hence organizations need to integrate clean and accurate data, so that it can be processed efficiently by IoT technology in order to get the desired results.

Advantages:

With accurate data and efficient governing policies in place, IoT could really turn the organization into a SMART Enterprise.

Some of the benefits of integrating MDM and IoT are

1. Improve Business processes
2. Better planning and Prediction
3. Data Transparency
4.  Quick decision making
5. Save time, Money and Resources
6. Deliver Just In Time

Potential Risks:

• Network Complexities: Due to complexity of the networks, it has more vulnerable to frequent failures.
• Data Privacy/Security: Privacy is a biggest concern with IoT.
• Security attacks: Due to connectivity to multiple networks, the data is prone to be misused or hacked.
• However these risks could be overwhelmed by proper planning and correct implementation.

Conclusion:

IoT technology provides the opportunity of using Master data more efficiently and also helps us to be more efficient in how we do things there by saving time and money. It will not be long before we see IoT being commonly seen in Organizations as well as house hold applications. Those who are slow to adapt to this change could be left behind the competition. So it’s better to be proactive and turn our organization into a SMART Enterprise.

About the Author:

Sameera Nishat is an Electronic and Communication engineer currently employed with PiLog as a Program Manager. Being an Ontology expert, she is in charge of the Material and Service master Dictionaries/Taxonomy which are currently being used by many leading organizations across the globe for Cataloguing their Material/Service Master records. As a Master data expert, she has vast experience in the field of Data management and ERP solutions and she writes blogs related to her area of expertise during her leisure.