When it comes to big data and Internet of Things (IoT) initiatives, most companies are still in the design or early adoption phases, but Caterpillar offers an example of real-world IoT ROI.
Caterpillar's marine division serves fleet operators of tugboats and shipping vessels for whom fuel usage often drives the bottom line.
Customers use Caterpillar's Asset Intelligence platform and shipboard sensors to monitor everything from generators to engines, GPS, air conditioning systems and fuel meters. In one example, Caterpillar is able to identify that fuel meter readings are correlated with the amount of power used by refrigerated containers. This data can now be used to determine optimum operating parameters by simply modifying power output from the generators.
Read the full story at forbes.com.