Another day, another thoughtful piece of analysis on the potential of the Internet of Things from Cisco.
This white paper (Embracing the Internet of Everything To Capture Your Share of $14.4 Trillion) may not have the snappiest of titles, but does a great job of setting out the basics of how the IoT generates value, based on a number of generic case studies of IoT used in real world markets.
No surprises to see efficiency gains listed as one of the main value points for IoT, but in Cisco’s view, the biggest potential win – a market of $3.7 trillion – lies in improving customer experience and winning more business.
What are the 3 top tips for companies who want to adopt IoT?
- Assess your IoT readiness. As the authors say:
With the huge number of connections that need to be made among people, data, and things, companies must assess their strengths and weaknesses in the areas of technology skills, business process management, data analytics, connectedness, and security.
- Understand the role of IT in driving returns from IoT. Specifically, are you using IT and IoT to drive down costs (which will have diminishing returns) or drive up new revenues?
- Take steps to improve security and privacy. These are essential parts of any IoT roll out.
Want more case studies on IoT used to build businesses? We’re bringing together a wide range of enterprises who are adopting the technology to discuss its potential at IoT13 (June 27th, Cambridge) – see here for more information or go here to register.