- $2.5T Asset Utilization
- $2.7T Supply Network Efficiencies
- $2.5T Labor Productivity
- $3.7T Customer Experience Management Improvements
- $3.0T Innovations in R&D and Business Models
Well, that should get the attention and interest of most CxOs and corporate strategists!
In part one of this series, “So what is the Internet of Things?“, we reviewed the long history of IoT, some current examples of IoT, and touched on the value in the automotive industry via vehicle relationship management.
Gil Press at Forbes subsequently published a concise chronological review entitled “A very short History of the Internet Of Things.”
Like any TLA (Three Letter Acronym) descriptions and definitions are usually in the context of the person trying to sell you something.
Here’s my definition of IoT – capabilities enabled by machines connected across networks of autonomous agents automatically processing events, without human intervention, to create value by adaptively analyzing pools of data to diagnose and prognosticate granular knowledge focused on the value to human consumers of one.
Wow – that’s a mouth full of consultantese!