| | March 20178CIOReviewPricing pressure remains a constant in almost every industry unless that industry has altered the value equation with technology, information technology, or a unique product that catches the population off guard. Let's face it, catching people by surprise seems to be the norm now when in general conversation people repeatedly say, "there's an app for that". Changes in technology lifecycle expectations, workforce demographics, and demands for continual work and life efficiency improvements make information technology and connecting to the Internet of Things (IoT) a must for all new products.While technology, infrastructure, and information technology continue to evolve at a rapid pace, the elevator industry's workforce also continues to change. 30 percent of the skilled technicians who have intimate knowledge of older elevator control systems will retire over the next four to five years. This combination of new talent and heavier workloads is prime for a technology-based solution. There is also a trending reliance on constant connectivity with tablets, smart phones and wearables. For those who have grown up in the age of instant access to informationthere is an expectation for data to be readily available on elevator service through these devices. Our elevator industry and workforce are ultimately impacted by typical construction cyclesbuilding booms and recessions are par for the course. As cranes disappear from sky lines, older buildings in need of a technology face lifts to compete with the new buildings come into focus. This forces the industry to constantly innovate and evolve. One important evolution is buildings and building systems connected through the IoT. This requires connected devices that can communicate via Ethernet, cellular, or mesh networks that facilitate predictive analytics through the use of big data. For thyssenkrupp Elevator, this game-changing IoT solution is MAX with the ability to provide connectivity, predictive analytics and condition based maintenance modeling. Connectivity decisions can be challenging as the telecom industry is constantly tasked with providing faster networks with high throughput for big data at lower costs. With more than 250,000 elevators under service in North America alone, choosing the most forward leaning cellular hardware is important, as plans of sun-setting 2G and 3G infrastructures appear imminent and big data requires faster transmission speeds.Assuming that all connectivity is optimum, once our elevator's data is in the cloud, the consumption begins and the use of expert systems and predictive analytics models help us to make our service technicians more efficient. thyssenkrupp's Coach application guides technicians in Integrating IoT into Field Service StrategiesScott E. Day, EVP- Product & Business Strategy, thyssenkrupp Elevator CorporationBy IN MY OPINIONScott E. Day
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