Do IoT CM Systems provide a worthwhile ROI?
The majority of IoT based online condition monitoring (CM) systems are vibration based. These IoT CM Systems are focused on components with long periods of downtimes per failure. When it comes to the financial justification of IoT CM investments, many uninformed analysts assume that the system is perfect and will always inform the user ahead of any impending failure. However, this is not always the case and false alarms as well as missed failures will produce costs that may mean the investment is not, or maybe more incentivized then it appears.