Business Opportunities and the IoT

IoT Business OpportunitiesSo, about the Internet of Things. More specifically: about the business opportunities that the Internet of Things brings.

Is this a subject to which you’ve given much thought?

If not, you may find it worth taking a moment to consider.

The idea is, in a nutshell, that “as everything from home thermostats to the walls of office buildings become available to corporate networks via Internet protocol, there should be major benefits available to the organizations that develop a strategy around it.”

What kind of opportunities are we talking about?

That’s a question for which we’re going to be discovering new answers left and right over the next several years. But for now, here are a few easy examples:

  • Dynamic allocation of resources. For example, the ridesharing firm Uber lets users order car services via an app, so a company’s fleet can keep working even when its drivers are off the clock
  • Improved quality of performance “by leveraging IoT data to catch errors and reduce them in the future”
  • A better-targeted business model, with services and offerings constantly honed by real-time feedback

The opportunities implied by IoT go beyond the evergreen goal of driving efficiencies. Yes, IoT spells efficiencies opportunities too. But it also spells opportunities to evolve in a new direction: to become relevant in an evolving landscape of tools and audiences.

Evolving tools? That’s self-explanatory: the IoT is, in itself, a network of evolving tools. Evolving audiences? Stay tuned for our next post to find out what we’re referring to.

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