Why every CEO should be willing to invest in the Internet of
Things (IoT) …..Ganesh Ramamoorthy ……remarks….
“The
first and foremost thing that organizations should understand is that IoT is
not a technology initiative - it is a business improvement initiative. Behind
every IoT project there is a business priority. It has broad applications and
supports a wide range of business models, though most applications are rooted
in four usage scenarios:
Manage — connected things can be monitored
and optimized. For example, sensors on an asset can be optimized for maximum performance
or increased yield and up time.
Charge — connected things can be monetized
on pay-per-use. For example, automobiles can be charged for insurance based on
mileage.
Operate — connected things can be remotely
operated, avoiding the need to go on site. For example, field assets such as
valves and actuators can be controlled remotely.
Extend — connected things can be extended with digital services.
For example, connected healthcare equipment can receive software upgrades that
improve functionality.
These
four usage models help organizations tackle two sets of business priorities -
the internal priority, which is essentially to do with reducing costs,
improving productivity or efficiency, and optimizing resource utilization, and
the external priority, which is essentially to do with growing sales, finding
new growth markets and enhancing customer satisfaction”
Source: Corporate Dossier July
10-16, 2015
