The Internet of Opportunity
IoT encompasses a large swath of hardware, software and services that enables connecting the physical-first world for data that can be used to monitor, control and locate assets. While this simple goal is by no means easy, it starts the enterprise on an innovation journey that can lead to complete business model transformation. IoT solutions can enhance business processes by feeding asset operational data directly into the systems and applications that helped create, support and market the connected product including R&D, marketing, sales, field service and customer care.
Analytics on the product operational data can add new levels of value such as predicting a failure event or optimizing delivery operations. New products can be developed from IoT usage data or products can be offered as services. Product tracking data can improve logistics operations and proactively steer city traffic flows of cars and people. IoT provides that next level of visibility into assets and associated processes that previously had no visibility what-so-ever. Ultimately, IoT gives enterprises the tools to transform to improve customer experiences, lower TCO, create new products and services, and generate new revenue streams.