IoT consulting services
Acting as the bridge between the physical and the digital world, IoT offers a huge opportunity for companies. We help clients effectively capitalize on IoT technology and solutions, linking technology, vendors and customers through a holistic business model.
What EY can do for you
IoT describes the connection of devices to the internet using embedded software and sensors to communicate, collect and exchange data with one another. IoT combines connectivity with sensors, devices and people, enabling a form of free-flowing conversation between man and machine, software and hardware. With IoT, the world is wide open, offering a virtually endless array of opportunities and connections at home, at work or at play.
EY offers services covering the following areas and others:
Improving manufacturing and operations
Teaming our manufacturing knowledge and experience with P&G, GE Digital and Microsoft has led to EY Smart Factory, a modern digital platform that brings together leading-practice manufacturing process intellectual property with shop-floor analytics and improvement apps. The benefits provided by Smart Factory include the ability to achieve improved service levels and savings across labor, maintenance, energy, yield loss, rework, warranty and overhead costs, and working capital, enabled by IoT.
Sector-specific offerings are also available. For instance, Intelligent Process Optimization is a licensable product that can be used to improve the crude oil distillation process by improving the most profitable, high-quality yields.
Enabling condition-based predictive maintenance
This concept is built upon continuous real-time monitoring of the critical parameters behind how equipment performs, compared with how it performs normally. Detecting when it deviates from normal behavior allows a company to spot and prevent failure at early stages.
Condition-based maintenance has been effectively used in different industries for decades. What’s innovative in our approach is the application of artificial neural networks to create a “digital twin” of the equipment for comparisons, providing a more accurate prediction and greater lead time to allow maintenance teams to react and prevent issues.
EY has implemented this solution at a top manufacturer of filling and packaging technology.
Detecting and responding to network events
IoT solutions require security, privacy, safety, reliability and resilience. The fundamental mission of a security operations center (SOC) is to detect and respond to events on the network. A highly mature detection and response capability requires tailored network security solutions and a structured team with well-defined responsibilities and processes.