SaaS application suite, PaaS and IaaS solution provider, Oracle, has announced enhancements its Internet of Things (IoT) Cloud. According to the company, the offering will now feature built-in artificial intelligence (AI) and machine learning that powers Digital Twin and Digital Thread capabilities.
Oracle claims that customers and partners will be able to gain operation-wide visibility and leverage predictive insights from connected assets. These insights can increase deployment times, reduce costs, improve business outcomes, and accelerate new market opportunities.
The company states that it has combined the power of Oracle IoT Cloud and enterprise applications to introduce new industry solutions for digital field service, smart connected factories, and digital fleet management.
Digital Twin for supply chain management
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 behavioral dimensions of that asset. This will help remote users to monitor the health of that asset to prevent failures before they occur and also to run simulations of “what-if” scenarios in the context of the business processes.
With Digital Twin, organizations have a new operational paradigm to interact with the physical world, allowing lower operational and capital expenditures, minimizing downtime, and optimizing asset performance.
Digital Thread for supply chain management
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 bridges the entire supply chain process from product design and order fulfillment, to manufacturing and product life cycle management, to warehousing and transportation, to logistics and procurement.
Artificial intelligence and machine learning
The company claims to have fully integrated AI and machine learning features across its IoT solutions portfolio. These technologies leverage machine data in the context of business data from applications, such as manufacturing, maintenance, service, and logistics.
According to Oracle, the built-in operational analytics will 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.
“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, IoT Applications 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 realization of ROI.”
The expansion news comes right after the company introduced IoT Cloud Applications for asset monitoring, connected workforce, fleet monitoring, and production monitoring. It is interesting to see that since earlier this year, the company has been focuding heavily on IoT and has increased its IoT application ecosystem of device and systems integration partners.
New IoT industry solutions
Digital Field Service: which 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 (AR) for guided equipment repair.
Smart Connected Factory: The solution demonstrates how incident detection, root cause analysis, and smart resolution are performed within minutes in a connected factory. It features IoT Production Monitoring Cloud, SCM Cloud and ERP Cloud, and the use of virtual reality (VR) to navigate the manufacturing floor. It can also be used for remote worker training.
Digital Fleet Management: Which showcases real-time shipment tracking, risk management, and logistics synchronization. It features IoT Fleet Management Cloud and Oracle Logistics Cloud.