Internet of Things Technologies to Rationalize the Data Acquisition in Industrial Asset Management

Based upon the needs of industry, academia is producing a growing number of decision-making models and tools for maintenance and asset management. At the same time the amount of data available for companies is overwhelming and unorganized, as our previous research and experience have shown. The acquisition of relevant input data for these models can be time consuming, prone to error and often difficult with the current technologies and systems. The emerging Internet of Things (IoT) technologies could rationalize data processes from acquisition to decision making if future research is focused on the exact needs of industry. This paper contributes to this field by examining and categorizing the applications available through IoT technologies in the management of industrial asset groups. Previous literature and a number of industrial experts are used to identify the feasibility of IoT technologies in asset management. This paper describes a preliminary study, which highlights the research potential of specific IoT technologies, for further research related to smart factories of the future.