Embracing the Internet of Everything To Capture Your Share of $14.4 Trillion
More relevant, valuable connections will improve innovation, productivity, efficiency and customer experience.
To get the most value from IoE, business leaders should begin transforming their organizations based on key learnings from use cases that make up the majority of IoE’s Value at Stake. The next wave of dramatic Internet growth will come through the confluence of people, process, data, and things — the Internet of Everything.
Value at stake is the potential bottom-line value (higher revenues and lower costs) that can be created or will migrate among companies and industries based on their ability to harness IoE. There are five main drivers of the $14.4 trillion of IoE Value at Stake. These findings allow business leadership to begin planning how they can benefit from IoE.
The bottom line is that the IoE Economy is about enabling people to be more productive and effective, make better decisions, and enjoy a better quality of life. From an industry perspective, four out of 18 industries make up more than half the total Value at Stake.
To receive the most value from IoE, business leaders should begin transforming their organizations based on key learnings from use cases that show how IoE works in the real world. Value in smart factories is obtained from cost-cutting, revenue growth, and better workforce collaboration. Data-driven business agility is at the core of achieving the Value at Stake from connected marketing and advertising.
Value at Stake from the smart grid will come mostly from improved efficiencies and increased reliability of the electrical delivery system.
For leaders in the gaming and entertainment industries, this use case highlights the importance of focusing on the delivery of content to any device, anywhere. While the main benefits from connected commercial ground vehicles come from improved logistics, there is also an opportunity . . . to improve service quality and consistency, and to realize environmental benefits through lower energy consumption and carbon emissions.
Connected healthcare and patient monitoring involve a fundamental shift in how healthcare providers deliver their services. Billing and insurance processes will also have to change for this Value at Stake to come to fruition.
The IoE Economy will give private educational institutions the ability to scale instruction and provide it at a significantly lower cost than not-for-profit institutions. “You can’t win if you don’t play. As technology and connectedness accelerate the pace of determining the winners and losers, preparing for IoE is not a question of if, but of when.” (Read more: Here’s Why Companies Stand to Lose More Than a Year of Profits if They Don’t Embrace IoE)
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