IoT presents compelling business benefits, especially for organisations prepared to make the most of its stream of real-time data. It is estimated that 50 billion devices and objects will be connected to the Internet by 2020. Yet today, more than 99 percent of things in the physical world remain unconnected. The growth and convergence of processes, data, and things on the Internet will make networked connections more relevant and valuable than ever before. This growth creates unprecedented opportunities for industries, businesses, and people . IDC see the Internet of Things (IoT) creating new opportunities for business in 5 main ways:
- New business models: The IoT helps companies create new value streams for customers, institute processes that speed time to market, triage market performance, and respond rapidly to customer needs.
- Real-time information on mission-critical systems: With IoT, organisations can capture more data about their processes and products in a more timely fashion to create new revenue streams, improve operational efficiency, and increase customer loyalty.
- Diversification of revenue streams: The IoT can help companies create new services and new revenue streams on top of traditional products, e.g., vending machine vendors offering inventory management to those who supply the goods in the machine.
- Global visibility: The IoT makes it easier for enterprises to see across the business regardless of location, including tracking effectiveness and efficacy from one end of the supply chain to the other.
- Efficient, intelligent operations: Access to information from autonomous end points allows organisations to make on-the-fly decisions on pricing, logistics, sales, and support deployment, etc…
Thinxtra can help you make the most of those new opportunities by developing simple solutions with great Return On Investment.
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