We all know that manufacturing yields and costs are the driving force behind product development, rather than product quality.
Most of us have furnaces in our homes. What if your furnace repair company knew that sometime in the next 50 heating cycles, your gas flow control valve is going to fail? And just to make it interesting, the Arctic Vortex happens to be moving through your neighborhood this week. Chances are the furnace will fail on the coldest night of the year. But what if you get a call from your furnace repair company with information about an imminent furnace failure and you give them the OK to make the pre-failure fix. The panic, stress and cold of a furnace failure are avoided. You have just experienced predictive failure analysis at work.
The good news is that more and more devices are becoming part of the Internet of Things (IoT), which extends the design team’s visibility beyond manufacturing – and that changes everything.