Using predictive maintenance IoT solutions to improve the customer experience & make more money
What was the problem?
New advances in technology are causing the shipping industry to change at an alarming rate, lowering the barrier for entry for new entrants and rapidly making the shipping industry much more heavily saturated with competitors.
This client knew that they desperately needed to improve their customer experience by creating a new predictive maintenance capability for their product that would allow them to reach new customers and remain competitive enough to keep the ones that they have.
The predictive maintenance solution would allow the company to “predict” ahead of time when the solution might fail. Therefore, allowing this client to reduce unexpected product downtime and avoid an unhappy customer base!
What we did:
Conducted a series of design-led thinking workshops and 1-2-1 interviews to help the client understand the exact needs of the end-user, before designing the solution.
An in-depth financial business case was also developed to support the predictive maintenance solution, to make sure this would be a worthwhile investment for the business. This allowed the client to see how much money they could save operationally and also how much new revenue they could generate by developing this solution.
Identified initial cost optimisation and revenue generation opportunities of over $7million.