Fuel is the number one expense for a trucking company outside of the truck’s driver—fuel costs for commercial trucking in the United States are more than $140B per year. Saving a $1 on fuel goes right to the bottom line in an industry with razor-sharp margins, which can mean the difference between a red and a black income statement. Vnomics’s True Fuel, a machine-learning “digital twin” application, routinely identifies and helps eliminate as much as 10% of fuel waste within a commercial trucking fleet, offering real savings for fleets looking to generate more profit.
If you are planning on building and deploying an industrial IoT application, clearly identifying the business outcome you are trying to achieve with the application is a critical first factor to success. Drawing on his experience with True Fuel, Lloyd Palum explores the importance of identifying the target business value in an IIoT application and explains how to deliver that value using the concept of a digital twin.
Lloyd Palum is the CTO of Vnomics, where he directs the company’s technology development associated with optimizing fuel economy in commercial trucking. Lloyd has more than 25 years of experience in both commercial and government electronics. Previously, he led the development of a new product line of surveillance equipment at Harris Corp. and helped facilitate the growth of the company in new markets; he was also director of DSP application development at a startup focused on configurable digital signal processing systems. A leader in the design of communication and networking systems, Lloyd has published a number of technical articles and speaks frequently at industry conferences. He holds five patents in the field of software and wireless communications. Lloyd earned an MS in electrical engineering (MSEE) from Boston University and a BS in electrical engineering (BSEE) from the University of Rochester.
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