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The Real-Time Revolution by Thomas Ferratt, Jerry Power

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Chapter2

The Real-Time Monitoring and Response (RTMR) System

Companies that utilize Internet of Things (IoT) technologies to actively monitor equipment installed at their customer sites have the opportunity to respond to problems more quickly to reduce downtime. Repairing products that are out of service more quickly than competitors demonstrates greater respect for the value of customer time. Advances in technology have made it increasingly feasible to add features to almost any product to make it both smart and connected to the internet, thereby allowing usage and diagnostic data to be collected throughout the product’s life. In many cases these smart products can even be repaired by remote technicians.

For example, consider the blood- and ...

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