Healthcare equipment manufacturers and providers have embraced the Internet of Things (IoT), connecting machines to networks to enable analytics and draw insights on better support and utilization metrics. However, most machine data management tools can only analyze simple sensor data and basic historical log data. Today’s tools are only scratching the surface of the value of complex machine data.

If ever a sector of the economy needed smarter systems to enable optimization of business and operations processes, it’s healthcare. The healthcare arena offers untold opportunities to apply IoT and Smart Systems technologies to increase awareness, knowledge, efficiencies and actions. According to several sources, global healthcare expenditures expanded to over $8 trillion dollars in 2016; capital expenditures for machines, devices and equipment totaled over $350 billion.