Industrial IoT projects often begin with mandates for internal cost savings. Increasingly, enterprises are moving beyond savings to unlock greater returns through new and expanded revenue streams made possible by connected product systems. These organizations are winning by deploying IoT solutions enabling customers to generate more revenue for their own businesses based on the new services provided by the enterprise.
Successful IoT initiatives integrate “makers” inside their customers’ value chain, increasing profits at each link and presenting a barrier for competitors seeking to win new business with standalone equipment and traditional distribution channels.
For commercial marine operators like Captain Zach Ring traveling back and forth between the New England coast and the Bahamas, systems that increase safety and reliability translate directly into increased revenue. A wider range of operating conditions, easier identification and troubleshooting of problems, improved environments for captain and crew, and better experiences for travelers all add up to more trips and more business for operators – and increased sales for Caterpillar.
“The Bright Wolf IoT Platform is core to our ability to driving industrial grade equipment operational systems and rapidly responding to the unique and evolving marine market requirements.” – Merritt Callaghan, Caterpillar Inc.
Caterpillar partnered with Bright Wolf on the foundation for launching the next generation of intelligent Caterpillar Marine Displays to capture, manage and visualize data from remote assets.
“The biggest thing for me is what they can do in our environment. What you see, that’s what a captain and crew rely on.” – Captain Zach Ring
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Caterpillar continues to be an industry leader in realizing value through IoT, with Forbes reporting Caterpillar’s Marine Division expects their Asset Intelligence platform to save customers millions of dollars per year through performance optimization and predictive maintenance.
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