One of the most important steps to implement Industrial IoT is to measure the business impact. Demonstrating how the initiative is solving real business problems will help you get buy-in across the organization. After you finalize your use case, set measurable goals and metrics.
Before you begin, complete this step:
Your goals and metrics will vary, depending on your organization’s use case and initial project scope. Start by identifying the business challenge and desired outcome that ThingWorx was selected to solve. Confirm the scope of what you’re measuring: do your goals apply at the line(s) level, or the entire factory plant? This process typically takes place when you select your use case.
Next, specify your goal for addressing the business challenge: how will ThingWorx alleviate the problem? Your goals should be measurable.
Common goals include:
After identifying your goals, determine which metrics or key performance indicators (KPIs) you will use to measure success. For example, if your goal is to increase operational efficiency, your KPIs may include the number of operators in the plant and total equipment downtime. If you don’t have access to the data you need, reach out to the plant manager or leader.
Collaborate with stakeholders across your organization to finalize your goals and metrics. Ensure the project sponsor, key leaders, and other team members agree on the goals. And verify whether you can measure the identified KPIs.
Establish a thorough understanding of what the goals are, how the metrics will be tracked, and who is responsible for doing so.
If possible, you should document your organization’s “as-is” state. Establishing baseline metrics will help you prove that ThingWorx had the intended effect on your organization. For example, if your goal is to increase operational efficiency at a specific plant, you should record the current-state metrics for that plant, before you deploy ThingWorx.
In many cases, it isn’t possible to capture accurate baseline metrics. Your organization may not be capable of measuring the right things—but will have deeper insight after ThingWorx is in place. Or there may be other initiatives happening in parallel that will affect those metrics later. If the exact metric is not available or accurate, a high-level approximation is acceptable.
After you identify your goals and metrics, it’s important to document a detailed measurement plan.
The measurement plan should outline:
Share the measurement plan with stakeholders and refer back to it throughout the project to ensure you’re on track.
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