With retailers expected to spend an estimated $2.5 billion on IoT hardware and installation costs by 2020, there will be no shortage of demand for software that makes use of data collected through in-store devices, sensors and beacons.
SAS Analytics for IoT is designed to enable organizations to accumulate, interpret and make decisions based on collected data. The solution suite is built to help businesses improve safety, reduce injuries and/or enhance product quality, all of which can potentially translate into healthier profits. Retailers in particular have opportunities to predict maintenance needs, personalize offers on the spot and trigger actions that deliver bottom-line business value.
The SAS Analytics for IoT suite’s functionalities include:
Intelligent filtering, which focuses enterprises on relevant data;
A connected ecosystem, which enables retailers to mine and analyze IoT data to understand its context and further detect patterns of interest; and
Real-time analysis, allowing businesses to monitor signals as they occur, from simple alerts to complex automated responses.
“The use of analytics supports our vision of knowing how millions of lifting devices and machine tools perform in real time,” said Juha Pankakoski, Chief Digital Officer at crane manufacturer Konecranes. “We use this knowledge around the clock to make operations safer and more productive. With SAS, Konecranes analyzes equipment and customer data plus usage and impact data. Combining big data with reliability analysis and simulations enhances our ability to make predictions.”