Analytics-Of-Things Drives IoT Business Value: An Executive Perspective
Why should executives care about Internet-of-Things (IoT) applications in their companies? That is the question addressed by a study examining the business use cases for IoT applications by seven large companies, plus a city government.
IoT is more than a fancy technology that improves a few business processes. These companies created a variety of IoT use cases for reducing costs, increasing efficiency, improving customer service, and exploiting innovative business opportunities. These use cases impacted cross-organizational issues and exploited strategic opportunities, both requiring executive attention and action. The lessons learned are:
- IoT value to your company depends on analytics.
- IoT value can be expanded incrementally from initial use cases.
- IoT value should flow from operational to strategic use cases.
- IoT value can be limited by technology assimilation within your company.
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GE, Huawei to partner on Internet of Things – USA TODAY
General Electric said Wednesday that it had struck a partnership with Chinese telecommunications giant Huawei Technologies to develop machines that are connected to the Internet.
GE concurrently opened new $11 million software incubator in Shanghai to foster new technologies and start-ups — all aimed at hastening the transition to digital machines that operate more efficiently.
The space will provide a launching pad for developers to create new software based on GE’s Predix operating system, which Huawei is also now planning to leverage as its “preferred” platform, GE said.
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Industry 4.0 gaining momentum in Asia-Pacific
Cyber-connected manufacturing systems – also known as Industry 4.0 – improve efficiency and optimize operations but also have the potential to change the way manufacturers and industrial companies run their business. Especially in Europe and North America, manufacturers are quite familiar with the challenges and benefits of the Industrial IoT.
Looking closer at the industries that will drive IoT adoption in the Asia-Pacific region by 2020, industrial IoT solutions are among the top three industries. Out of all the Asia-Pacific countries, China is expected to spearhead industrial IoT spending and account for 49% of spending by 2020 – impressive numbers, no doubt. However, Japan, South Korea, India, and elsewhere will also see significant take up of such solutions over time.
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Internet of Things is Poised to Transform the Insurance Sector
Can Insurance industry leverage the vast amount data from IOT to disrupt the traditional operating models and establish new frontiers for growth?
IOT with its ability to get data from billions of connected devices can revolutionize and reshape the Insurance Industry and create new business models. Data from sensors embedded in cars, homes, buildings wearable can be used by insurance company to understand the correct picture of exposure and risk of what is being insured at the same time helps them to make holistic offering to meet their customer’s needs. IOT also makes it possible for insurers to move to a more engaged model with their customers.
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IoT Is Changing How Businesses Work And Driving New Processes
The Internet of Things (IoT) is still developing, but, as it does, more insights are propelling the industry forward in changing how people live and work. While information on IoT has focused primarily on the consumer side of the industry, new data is emerging that illustrates that IoT has numerous benefits for businesses in terms of efficient processes and deeper engagement with customers.
What the numbers indicate in reports like eMarketer’s 2016 The Internet of Things: Investment, Growth and Industry Outlook, is that the opportunity is there for consumer players like Apple, Microsoft, Amazon, Googleand more as well as startups like Skybell that make products for the consumer IoT market. Other companies are interested in exploiting the possibilities in the B2B IoT niche as more companies gain awareness and interest in what IoT can do for them.
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IoT Devices Expectedto Swamp Mobile Lines
An Ericsson report estimates there will be 1.5 billion IoT devices needing cellular connections by 2021.The various wireless networks that enable us to call home or look up Yelp reviews while traveling may soon exist primarily for another purpose – real-time communication between devices, sensors and central processing hubs.That’s the conclusion drawn with Ericsson’s latest Mobility Report, which observes that the Internet of Things (IoT) is expected to surpass mobile phones as the largest category of connected devices in 2018. “Growth in the number of connected devices is driven by emerging applications and business models, and supported by falling device costs,” the report’s authors state.
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Intel Sees Slower Data Center& IoT Growth, Though Stronger Growth Expected In Coming Quarters
The world’s largest semiconductor company, Intel released its Q2 2016 earnings on July 20th. The company’s revenue came in-line with its guidance, while its profitability exceeded both company guidance and analyst expectation. However, Intel’s stock saw a marginal decline in after-hours trading yesterday. This can be attributed to the slower growth in the data center business and a quarter-over-quarter decline in Internet-of-Things (IoT) revenue. We believe that the data center slowdown is not a cause of concern as growth is expected to re-accelerate in the second half of the year. The sequential decline in IoT revenue was due to an inventory burn after a very strong Q1 2016. The segment remains one of the biggest growth drivers for the semiconductor industry and Intel is at the forefront of this new trend.
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