Future-Proof Your Business: The Long-Term Benefits of WiTTRA’s Asset Tracking Technology

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Asset tracking is the process of monitoring and managing physical assets, such as equipment, vehicles, and inventory. Asset tracking technology involves using hardware devices and software platforms to monitor the location, status, and condition of physical assets. The hardware devices used for asset tracking can vary depending on the type of asset being tracked and the specific requirements of the business.

Currently, asset visibility is a widely discussed topic, especially considering the increasing operating expenses faced by businesses worldwide. Fortunately, industrial companies can enhance their efficiency while reducing process and management overheads by utilizing the capabilities of Digital Twins. The implementation costs for this technology are surprisingly low. This article highlights the practicality of IoT technology in tracking and monitoring local site assets, which has been field-tested and proven to deliver significantly improved RoI figures.

Some common limitations of asset-tracking technology include:

  1. Cost: Implementing an asset tracking system can be expensive, requiring upfront investment in hardware, software, and infrastructure. Ongoing maintenance and support costs can also add to the overall expense.
  2. Accuracy: The accuracy of asset tracking technology can be impacted by various factors, such as signal interference, device failure, or human error, which can result in inaccurate location or status information.
  3. Connectivity: Asset tracking technology relies on connectivity to transmit data, which can be challenging in areas with limited or no network coverage, or in locations with signal interference.

However, Wittra can help overcome these challenges and offer a superior return on investment (RoI) for businesses due to several reasons.

Low-Density Network

Firstly, Wittra’s IoT network is built on the open standard 6LoWPAN, which stands for IPv6 over Low-power Wireless Personal Area Networks. This is a type of wireless communication protocol that allows low-power devices to communicate with each other over the internet. What sets Wittra’s IoT network apart is that it uses sub-GHz frequency bands, which provides several advantages over higher frequency technologies like Bluetooth, WiFi, and Zigbee.

One of the main advantages of sub-GHz frequency bands is that they require 10 times fewer anchor points compared to higher frequency technologies. Anchor points are devices that act as reference points for asset tags, allowing the network to determine the location of the tagged assets. By using sub-GHz frequency bands, Wittra’s IoT network is able to achieve the same level of accuracy with far fewer anchor points, resulting in significant cost savings.

These cost savings can be seen in a variety of areas, including site planning, the quantity of hardware, installation time, site disruption, device registration, administration, maintenance, and support. With one-tenth the infrastructure required, businesses can significantly reduce the complexity and costs associated with setting up and maintaining an asset-tracking system.

In fact, the total cost of ownership (TCO) for Wittra’s mesh solution is typically 20% of the competition, depending on the use case and site topology. This means that businesses using Wittra’s asset tracking technology can achieve better ROI figures compared to competitors, while also benefiting from the other advantages of sub-GHz frequency bands, such as superior signal propagation and longer product lifecycle.

Overall, Wittra’s use of sub-GHz frequency bands in its IoT network provides significant cost savings for businesses, while also delivering a more efficient and effective asset-tracking solution.

Superior Signal Propagation:

Secondly, Sub-GHz signals are able to penetrate building structures more effectively than higher-frequency signals. This is because sub-GHz signals have longer wavelengths and are better able to pass through obstacles like walls and floors without being absorbed or reflected. As a result, asset tags using sub-GHz signals experience fewer radio black spots and signal drop-outs as they move around the site, compared to higher frequency products.

This superior signal propagation means that businesses using sub-GHz based asset tracking technology can enjoy better coverage and more reliable data transmission throughout their sites, without the need for complex network-tuning or calibration. Additionally, most sub-GHz anchor points are easy to install, often requiring only a simple attachment to a wall or other surface and verification of a radio link. This ease of installation translates into lower installation costs, less maintenance, and ultimately a better return on investment for businesses using this technology.

Furthermore, with the growing demand for asset visibility and the rise of IoT devices, sub-GHz technology is poised to become an increasingly popular solution for businesses looking to optimize their operations and increase efficiency.

Longer Product Lifecycle and Sustainability:

Thirdly, Wittra’s asset tracking technology is based on software-defined radio (SDR) which is a type of radio communication system that enables the entire radio functionality to be upgraded over time as wireless protocols evolve. This means that businesses using Wittra’s asset tracking technology can upgrade their hardware without having to purchase new devices every time wireless standards change. This approach ensures that businesses can keep up with the latest technologies and future-proof their investments while avoiding the high costs associated with replacing outdated hardware.

The use of SDR also contributes to a longer product lifecycle and greater sustainability, as businesses can continue to use their existing devices for extended periods of time. This means that the total investment can be considered across a 10-year-plus lifespan, making both the annual operating expenses (Opex) and total cost of ownership (TCO) lower, and improving the overall return on investment (ROI) figure. This approach is particularly relevant in the current business landscape, where economic accountability for green initiatives and sustainability is becoming increasingly important.

By adopting Wittra’s asset tracking technology, businesses can enjoy the benefits of a longer product lifecycle and greater sustainability, while also benefiting from the lower Opex and TCO associated with SDR-based devices. This approach ensures that businesses can continue to optimize their operations and increase efficiency over time while avoiding the need to replace outdated hardware and reducing their overall environmental impact.

Summary:

In summary, asset tracking is a critical process that helps businesses monitor and manage their physical assets. Asset tracking technology involves the use of hardware devices and software platforms to monitor the location, status, and condition of physical assets. While some common limitations of asset-tracking technology exist, such as cost, accuracy, and connectivity, the use of Wittra’s IoT network offers a superior return on investment (RoI) for businesses. Wittra’s IoT network uses sub-GHz frequency bands, providing several advantages over higher frequency technologies like Bluetooth, WiFi, and Zigbee, such as superior signal propagation, lower costs, and a longer product lifecycle. As the demand for asset visibility continues to grow, businesses using sub-GHz technology can optimize their operations and increase efficiency while avoiding the high costs associated with replacing outdated hardware.

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