Thirty Measurable Business Cases for IoT with Connected Services

The Internet-of-Things (IoT) is profoundly changing the way companies interact with their customers in that it is enabling a post-purchase relationship that did not previously exist.By connecting devices to the internet,companies can gain insights into product performance and,more importantly,individual customer behavior with products.This is called “Predictive Monitoring”and it puts control of the stimulus-response model back into the hands of the company. The data collected from connected devices is “internal data,”because no competitor has this information.Internal data has very valuable proactive applications,which can create a competitive advantage.To maximize the value of this internal data, it should be used in near-time to create an impact for the business and its customers.This is where we differentiate between the Internet-of-Things and Connected Service Experience (CSX).IoT involves making the data generated by connected products available on the internet for reporting and monitoring.CSX involves analyzing the data from connected products in near-time,querying an expert system to find the most appropriate “Next Best Action,” and triggering an individual interaction between the company and the customer.For example,a fitness bracelet shows the runner his pulse,heart rate,and pace.The runner has to interpret this information and make a subjective decision.