How to Increase the Value of Your IoT Platform with AI

By Ethan Loo, Sales Development Representative at Widget Brain

You offer a platform that integrates all the separate data points of your assets into a single, presentable UI. No longer do your clients need to separately monitor each of their assets, saving them a considerable amount of time. But what if there was a way to up the value of your IoT platform even more?

Data Isn’t Intelligence

Your IoT platform has real value because it collects all the data from your assets in a single place. But there’s even more value in the analysis of the collected data. And while humans are certainly capable of analyzing small batches of data for insight, algorithms can do this faster, more accurately, and with endless amounts of data.

In fact, the right algorithms can improve an asset’s performance and output quality, help gain valuable insights in real time, and predict when an asset will require maintenance. This spares users the time and effort they would otherwise have to invest themselves if they were presented with just the data.

But even if your IoT platform already has rudimentary or fully-fledged algorithmic capabilities, the story isn’t done. If you service your IoT platform for your clients, you will need to continuously tailor each algorithm for each client for each asset. As more and more clients want to use your platform, this will take up a significant amount of resources that could be spent more efficiently elsewhere.

Training and Retraining Your Algorithms

Algorithms can be trained on an aggregated dataset. But each particular client and each particular asset have datasets that differ in often minor, but critical ways. Algorithms cannot be fully accurate if they’re not trained on these specific data sets. Additionally, because these datasets change over time, algorithms need to be retrained over time, too. Having to manually train and retrain your algorithms doesn’t make for a scalable IoT solution.

So how can you scale your IoT platform while also deploying, training, and retraining its algorithms? With an algorithm management tool that can automatically train, run, and manage all the algorithms on your IoT platform to meet all of your clients’ individual needs. Such a tool can save countless hours of manual work from you or your clients’ data science teams, and will ensure your algorithms operate at maximum accuracy at all time.

How to train, run and manage algorithms at scale

That’s why we built the Algorithm Factory: the platform that can automatically train, run and manage algorithms at scale. Whether you’ve developed your own algorithms or want to make use of existing algorithms, it’s easy to connect your IoT platform and data sources to the Algorithm Factory. The platform will do the rest.

The Algorithm Factory allows you to rapidly scale your IoT platform while cutting down on the manual labour otherwise involved in running algorithms and ensuring they’re consistently accurate. If you want to know more about how we make this possible for big and small companies around the world, have a look at www.widgetbrain.com/ or feel free to reach out to me personally.

Originally published at widgetbrain.com on December 13, 2018.