Honeywell Looks to Optimize Industrial IoT

New Honeywell Forge platform will optimize Internet of Things performance through holistic data analytics

From the “every company is a technology company file,” Honeywell — the company best known for thermostats and heating system controls — is diving deeper into the industrial IoT (IIoT) market with a new management platform, Honeywell Forge, which looks to optimize data analytics and system performance.

The Lowdown:  Honeywell Forge is a management platform that collects data from Honeywell and third-party IoT devices, analyzes activity and performance, and provides guidance on how to optimize outcomes and operating costs and identify new opportunities for improvement.

The Details:  With the new platform, Honeywell is focusing on four industry segments: industrial IoT and automated systems, airlines and air transportation providers, construction and building inspection, and cybersecurity (coming later this year).

The Impact:  Making the most of IoT investments is a challenge facing many businesses. Automating systems has obvious benefits, but maintaining and maximizing IoT performance — particularly in complex industrial systems — is proving more of a challenge. A recent survey by Honeywell found that 80 percent of enterprise executives see significant value in deploying holistic management systems in support of IoT projects. Honeywell Forge is the latest attempt by companies in the emerging IoT segment to create an intelligence platform under a single pane of glass.

Background:  Honeywell joins several other manufacturing and software companies trying to provide better intelligence and management of IoT systems. Other companies with similar systems include GE, IBM, Siemens, and PTC.

The Buzz:  “Large enterprises around the world consistently lack top-to-bottom visibility into how their operations are performing, and most lack the ability to derive business intelligence from their disparate data sources. Their existing systems are disjointed and have shortcomings that slow growth and cut into profitability,” said Que Dallara, president and CEO of Honeywell Connected Enterprise. “Honeywell Forge can provide leaders of complex businesses with the visibility they need to transform their operations quickly and efficiently, at every level and with minimum disruption, enabling users to focus resources on innovation and achieving business objectives.”

“Buildings house incredible and powerful data on the performance and usage of the building; however, if that data is difficult to access, interpret, or use for meaningful insights, it doesn’t help drive a customer’s business. We are transforming building operations via enterprise software that allows owners and operators to get more out of their building data in order to drive significant business results,” said David Trice, vice president and general manager, Honeywell Connected Enterprise, Buildings. “Honeywell Forge for Buildings is open, extensible, intelligent, and easy to use. You can turn on a building in a day or less and review the operations of a building from anywhere – including your favorite coffee shop.”

Related Links:  CHANNELNOMICS:
> Report: Industry Improves Productivity With AR, IoT
> IoT in Manufacturing to Grow 30% Annually
> IDC: Internet of Things Spending Will Top $745B in 2019