In a not so distant past, you needed a computer, a phone line and an ethernet cable to access the internet. These days, thanks to advancements in wireless connectivity, the internet is everywhere; it’s accessible through your laptop, mobile phone and countless other devices we use every day. This interconnectivity of objects, known as the Internet of Things (IoT), refers to the ability of devices to collect and exchange data remotely using sensors. It’s opened a new range of technological possibilities, from adjusting the temperature of a home or turning off lights from thousands of miles away. For Data Inventions in Cincinnati, Ohio, it means analyzing traditionally-overlooked manufacturing data to optimize business processes.
“About 99% of manufacturing data today is never analyzed. When your business is all about making things, knowing how your equipment is performing is crucial to getting the most out of your processes,” said Duane Clement, CEO of Data Inventions. “With the power of the industrial internet of things, we can collect relevant data, analyze it and offer cost-saving, operation-enhancing insights to help manufacturers improve their bottom line. We focus on mid-market manufacturers and show them that with their existing machinery, they can make and sell more product.”
Data Inventions’ cloud-based software connects manufacturers to real-time data about machine output that helps them improve production performance on-the-spot, rather than react to personal observations over time. This enhanced connectivity and data delivery can result in a reduction of downtime (time when the machine is out of action or unavailable for use) by as much as 45% and a boost in productivity by as much as 25%. Rather than replacing machinery and systems that factories spend millions of dollars on, Data Inventions uses analytics to improve existing processes. Increased productivity leads to increased revenue for the business overall.
Clement began his career in Cincinnati at Procter & Gamble, one of the largest manufacturers in the world. While he spent much of his career outside of Ohio, he never forgot his experience with P&G and brainstorming ideas to leverage technology to improve industrial processes. With the advent of IoT, he saw an opportunity and pursued it. After founding the company in Pennsylvania, Clement reached out to his contacts in Cincinnati to seek support from several Ohio entrepreneurial resources and get the company to where it is today.
Data Inventions is a member of HCDC in Cincinnati, a southwest Ohio regional partner of Ohio Third Frontier and one of Ohio’s largest and oldest incubator programs. HCDC provides the company with office space and mentorship. The company recently received investment from NCT Ventures and CincyTech, two additional partners of Ohio Third Frontier, which the company will use to further develop its software interface design. Clement has been overwhelmed by the level of support they have received.
“It’s like knocking on one door and having twenty open at once. The support has been incredible. We wouldn’t be where we are today without several of these partners playing a major role in our growth,” said Clement. “There’s a thought that you’ve got to be on the coasts to attract meaningful investment. That’s just not the case. If you build a good, useful product, we’re a prime example that a whole community will be willing to help you grow and succeed. Ohio is a great home for us and we can’t wait for the road ahead.”