Oracle Expands IoT Cloud Portfolio, Enabling Customers to Accelerate Intelligence and ROI from Connected Assets
Oracle today announced significant enhancements to the Oracle Internet of Things (IoT) Cloud. The offering now features built-in artificial intelligence (AI) and machine learning that powers Digital Twin and Digital Thread capabilities. As such, customers and partners can quickly gain operation-wide visibility and leverage predictive insights from connected assets. These insights can increase deployment times, reduce costs, improve business outcomes, and accelerate new market opportunities. Combining the power of Oracle IoT Cloud and enterprise applications, Oracle also introduced new industry solutions for digital field service, smart connected factories, and digital fleet management.
“IoT holds the potential to transform today’s siloed operations into a modern, interconnected, digital set of workflows with real-time visibility and responsiveness,” said Bhagat Nainani, group vice president, IoT Applications at Oracle. “Oracle continues to push the boundaries of IoT to help our customers significantly simplify their IoT deployments. By receiving real-time data streams enhanced with predictive insights, they can reach new levels of intelligence and a much quicker realization of ROI.”
Today’s expansion follows the recent introduction of new Oracle IoT Cloud Applications for asset monitoring, connected workforce, fleet monitoring, and production monitoring. Also, in the past six months alone, Oracle has more than tripled its IoT application ecosystem of device and systems integration partners. Oracle IoT Cloud is offered both as software-as-a-service (SaaS) applications, as well as platform-as-a-service (PaaS) offerings, enabling a high degree of adaptability for even the most demanding implementations.
“Hitachi Consulting is constantly looking for industry leaders like Oracle to help clients and prospects harness the power of data and IoT to optimize operational and financial performance, outpace their competition and solve significant business problems,” said Garth Carter, vice president North America Sales, Hitachi Consulting. “Our longstanding, strategic relationship with Oracle delivers industrial IoT solutions to digitize the physical world for manufacturing, energy, and transportation. In particular, Hitachi is leveraging Oracle IoT Applications—asset monitoring and production monitoring—that are uniquely engineered to meet specific industry and functional needs. These applications have a depth of OT, IT and IoT functionality that no competitor can match.”
New capabilities introduced today include:
- Digital Twin for Supply Chain Management
Digital Twin is a digital representation of a physical asset or equipment that enhances traditional analytics approaches. The object model includes multi-faceted views into current, historical, and predictive data, as well as operational and behavioral dimensions of that asset. This enables remote users to not only monitor the health of that asset to prevent failures before they occur, but also to run simulations of “what-if” scenarios in the context of the business processes. With Digital Twin, organizations have a new operational paradigm to interact with the physical world, allowing lower operational and capital expenditures, minimizing downtime, and optimizing asset performance.
- Digital Thread for Supply Chain Management
Supply Chain practitioners have spent millions of dollars in implementing SCM and ERP systems, but most often, data is manually fed into these systems. Digital Thread is a connected business process framework that leverages IoT and creates a “system of systems” by connecting traditionally siloed elements in real-time throughout the digital supply chain. By providing an end-to-end view of an asset throughout the entire manufacturing lifecycle, Digital Thread seamlessly bridges the entire supply chain process—from product design and order fulfillment, to manufacturing and product life cycle management, to warehousing and transportation, to logistics and procurement.
- Artificial Intelligence and Machine Learning
Built-in AI and machine learning features are now fully integrated across Oracle’s IoT solutions portfolio. These technologies leverage machine data in the context of business data from applications, such as manufacturing, maintenance, service, and logistics. The built-in operational analytics help detect anomalies, predict equipment failures, and recommend the best course of action. They also provide the intelligence needed to evolve capabilities to increase effectiveness and experiences of applications.
- Industry Solutions Built on IoT Cloud Applications
Oracle IoT industry solutions help customers reimagine and innovate business solutions for the connected, intelligent, context-aware, digital enterprise. New solutions introduced today include:
- Digital Field Service: Showcases intelligent remote monitoring, failure prediction, over-the-air repair, and dynamic technician dispatch. The solution features IoT Asset Monitoring Cloud, CX Service Cloud, CX Engagement Cloud, and CX Field Service Cloud, plus the use of augmented reality (AR) for guided equipment repair.
- Smart Connected Factory: Demonstrates how incident detection, root cause analysis, and smart resolution are performed within minutes in a connected factory. The solution features IoT Production Monitoring Cloud, SCM Cloud and ERP Cloud, and the use of virtual reality (VR) to navigate the manufacturing floor. It can also be used for remote worker training.
- Digital Fleet Management: Showcases real-time shipment tracking, risk management, and logistics synchronization. The solution features IoT Fleet Management Cloud and Oracle Logistics Cloud.