Getting Business Value from the Internet of Things
Wondering how the Internet of Things (IoT) can help your organization become data-driven? Join the club. Industry watchers now predict as many as 75 billion connected devices will exist by 2020.
Those 75 billion devices will generate a lot of data. But to get started with IoT, all you need to do is ask three important questions:
- Where’s the value?
- What are our business opportunities?
- When it comes to unlocking IoT’s potential, what are our main challenges?
The primary value of IoT is in the data. Data empowers the enhanced decision-making and automation that arise from the convergence of analytical insights, enabled by connected devices, with people.
More granularly, IoT value can be expressed across three dimensions:
- Contextual insights: Inferences about the device and environment, made through analysis of the data and creating new insights and value.
- Integrated intelligence: Possibilities discovered by combining and correlating data across disparate data sets and large populations.
- Operationalizing insights: Actionable information, delivered to the right people and systems across the enterprise at the right time and in the right format.
By becoming data-driven organizations, companies can capitalize on the opportunity and create new value for themselves, their customers and their partners.
While companies of all shapes and sizes can realize new business outcomes with IoT, we see three sectors standing out: equipment manufacturers, enterprises and service-based businesses.
Creating intelligent devices with sensors and processing – all while enabling secure and reliable connectivity – is just the beginning of implementing IoT.
Other big IoT challenges include: enabling secure data, managing the data, processing insights, providing timely insight delivery, and managing costs. They’ve all got to be done right.
That’s a tall order, but you needn’t do IoT alone. A partner with proven experience, leadership and technology breadth can help you implement the integrated solutions you’ll need to maximize the value of IoT while minimizing risks.
To learn more, read our whitepaper, “Connectivity to Business Outcomes: Become a Data-Driven Organization with the Internet of Things.