It seems that anything and everything can be connected to the Internet. Socks and shoes. Shirts, hats, and glasses. Appliances, beds, and thermostats. Drones and cars. Even diapers and medication. As mundane as these items are by themselves, adding the Internet of Things (IoT) intensifies their usefulness – forever changing how we live, play, work, and care for ourselves.
Without a doubt, the IoT as a concept is gaining popularity in the business world as well as the consumer market. Backing up this observation, Forrester Research recently revealed that 50% of global enterprises are prime for adopting the IoT to improve data use and customer experiences. Unfortunately, most of these businesses are missing an enormous opportunity to transform their business models to do more, operate more efficiently, move faster, and seize the top spot in the market.
To bring awareness of this commonly missed potential, the America’ SAP Users Group (ASUG) hosted an 8-week Webcast series this summer. So while you were vacationing on a private island, at the local beach, or in the mountains, your competitors most likely picked up a few pointers to better operationalize and reimagine their business with the IoT. To help you catch up, here’s a rundown of what they learned.
Although the IoT is not a brand-new idea, new technologies are transforming the value it brings. Sensors are becoming increasingly inexpensive and tracking anything imaginable with these powerful yet tiny devices. At the same time, growing computing power is empowering organizations to deal with an overwhelming volume of data in real time from any source and with all levels of complexity. Explore how you can capture this information and make sense of it all to gain competitive insight – from the boardroom to the public bathroom.
Is the IoT hype or here to stay? It all depends on how you apply it. IDC’s second annual IoT forecast revealed that the IoT market is expected to grow 19% this year. However, the degree in which you participate in this world of hyperconnectivity depends on your maturity level. Do you have what it takes?
With 1 billion devices and 2.9 billion people connected worldwide, IT systems are flooded with data. But watch out: The IoT has yet to produce the data tsunami it’s capable of generating. Are you ready to accept the full potential of this information when it comes – before your competitors do? Find out how you can turn these top three challenges of Big Data and IoT into real value for your business network, customers, and bottom line.
Can the IoT add value to your business? Believe it or not, the answer is yes for everyone – even if you are not in industries such as manufacturing, telecommunications, retailers, and logistics providers. Take a look at how every company, organization, and line of business can get their piece of the $7.3 trillion market from this transformational application of technology.
If so many companies understand the value of the IoT and are investing considerable time, money, and effort to realize its potential, why are 85% still failing to achieve it? Learn from these top 10 mistakes that could prevent your business from fully operationalizing the IoT.
Business leaders and national dignitaries are betting on the Industrial Internet of Things (IIoT) to power faster business growth and deeper expansion. Why? Because $14.2 trillion is expected to be up for grabs by 2030 – all thanks to the IIoT. Here are five ideas from Accenture that can help you drive greater productivity, seize new market opportunities, uplift the quality of life, and accelerate innovation cycles.
What will life in 2020 look like? Machines – not people – will be the dominant users of the Internet. There will be 6 billion mobile phones, but 30 billion connected devices will take up 42% of our mobile bandwidth. What does that mean for your current business model? If you want to a formidable competitor five years from now, you better plan for these four things right now.
John Deere provides its customers with reports on fuel consumption, tractor performance, and weather information. ABB tracks the health and performance of their industrial robots and offers additional services such as remote monitoring, preventative maintenance, and software patching. How are these two companies deriving new revenue beyond the sale of their physical products? They used an IoT services management platform to automate the entire services life cycle with these three primary steps.
$90 trillion in gross world product. 65 trillion in business trade value. 14.2 trillion in revenue potential. 22% higher margins. How will your organization take advantage of these new opportunities? If you’re like most executives, you’d say automation and business process acceleration. However, that’s only the beginning. Enable true business transformation by integrating these seven capabilities into your IoT network and platform.
For more information on how to plan for the full potential of the IoT, attend the ASUG Webcast “
IoT: How to Plan for When (Almost) Everything is Connected ” featuring SAP’s CTO of Global Customer Operations ” Irfan Khan and VP Global Innovation Evangelist Timo Elliott on October 27, 2015.