At a recent presentation to the Institute of Engineers Australia, I was asked: How is IoT disrupting retail petroleum?
Firstly what is the ‘Internet of Things’?
The Internet of Things (IoT) simply refers to physical embedded electronics that support connectivity. IoT seems like a newly developed idea, but the bottom line is, it’s not new after all!
We have been connecting devices (now coined as Things) since Samuel Morse invented the electrical telegraph in early 1800’s. Following that, Alexander Bell inventing the telephone in the late 1800’s, and followed by current loop communications in the 1950’s, and followed again by more advanced serial communications, through to dial up Modems through to Fibre, TCP/IP and now the Internet.
IoT attempts to capture any ‘Thing’ in one phrase, that IP protocols and open connectivity elegantly knit disparate devices (Things) together to exchange information. Things (devices) are often referred to as Edge technology, ranging from very simple GPS Things used in bicycles, shopping trolleys and smart water/gas/power meters through to more intelligent edge Connected Things that are growing at a rapid pace.
The other key point to note is that IoT is most often associated with Cloud and Big Data. Meaning rarely does IoT stand alone. Connected Things can be active or passive, push or pull data that can be small through to very large data messages. Data messages need to go somewhere for upstream storage, analytics and/or presentation i.e. the Cloud.
As a practical working example, Fuelsuite® Cloud connects to Fuelscan® (our edge Thing) via an IoT platform that securely moves large volumes of data from Petrol station Things (ATG’s, Dispensers, Price Signs, Sensors, Power metering, Coffee/Pie machines etc.) in real time.
So, back to the original question: How is IoT disrupting retail petroleum?
In our case; Fuelscan® simply connects a range of Things onsite in real time to Fuelsuite® Cloud, whilst also supporting secure end point API’s for major users to harvest raw data for internal consumption. Whilst other users interact with Fuelsuite® that supports many use cases and workflows that drive significant efficiency for retail petroleum operations, logistics, maintenance and the list goes on.
Fuelsuite® when coupled with Fuelscan® has afforded our customers independent access directly to any-Thing irrespective of manufacturer. Allowing user insights through machine learning that drives significant operational improvement with direct bottom line performance – all within one Cloud environment and one secure connection!
To learn more about how Fuelsuite can improve wetstock management through the IoT, download your free ebook now.