NEW YORK, Feb. 13, 2018 /PRNewswire/ -- Oracle Modern Finance Experience -- Empowering modern businesses to improve production intelligence and market responsiveness, Oracle today unveiled new Industry 4.0 capabilities for Oracle Internet of Things (IoT) Cloud. The advanced monitoring and analytics capabilities of the new offering enables organizations to improve efficiency, reduce costs, and identify new sources of revenue through advanced tracking of assets, workers, and vehicles; real-time issue detection; and predictive analytics.
According to The Economist Intelligence Unit, 63 percent of manufacturers have either undergone substantial digital transformation or are in the process of transforming parts of their organization, and 19 percent are developing transformation strategies. To remain competitive in the modern economy, businesses need to leverage new technologies and data to modernize their supply chains and improve visibility, predictive insights, and automation through connected workflows.
With new augmented reality, machine vision, digital twin and data science capabilities, Oracle IoT Cloud enables organizations to gain rich insight into the performance of assets, machines, workers, and vehicles so they can optimize their supply chain, manufacturing, and logistics, reduce time to market for new products; and enable new business models.
"IoT is the great enabler of Industry 4.0's potential, providing real-time visibility and responsiveness at every step of the production process – from raw materials to customer fulfillment," said Bhagat Nainani, group vice president, IoT Applications at Oracle. "Oracle empowers organizations to create smart factories and modern supply chains with seamless interaction models between business applications and physical equipment. By receiving real-time data streams enhanced with predictive insights, our IoT applications provide intelligent business processes that deliver quick ROI."
Today's expansion follows the recent announcement of artificial Intelligence, digital thread and digital twin for supply chain, as well as industry-specific solutions for Oracle IoT Cloud. 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.
"We plan to leverage Oracle IoT Cloud and its machine learning capabilities to automatically analyze information gathered from the robot and process-monitoring systems. These analytics could help Noble identify ways to reduce cycle time, improve the manufacturing process, enhance product quality, and cut downtime," said Scott Rogers, technical director at Noble Plastics.
Oracle plans to add the new capabilities across the entire range of IoT Cloud Applications – Asset Monitoring, Production Monitoring, Fleet Monitoring, Connected Worker, and Service Monitoring for Connected Assets:
Oracle IoT Cloud enables companies to monitor capital intensive assets to reduce downtime and servicing costs, and track utilization for accurate lifecycle insights and asset depreciation data, which improves enterprise procurement efficiency. The rich pool of data created by sensors within products enables organizations to offer their products as a service, gain insight into how customers are using their products, and offer improved value-added services that drive new sources of revenue.
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.
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