INTERNET OF THINGS
The Internet of Things market is currently experiencing tremendous growth and potential. The transformation of commonplace products into intelligently connected devices represents a significant opportunity for IoT service providers. Time to market for your products and services is critical for accelerating your business and remaining competitive.
IoT has the ability to connect everything and everyone, and it is making the world smarter and better than ever before. But this is only the beginning. To realise the full potential of the Internet of Things, businesses must first understand the opportunities for value creation and then address the underlying challenges in a systematic manner.
New Business Model
A lot of smaller scale solutions can be new business models to your company but the large scale solutions will bring more payback and are obviously tempting. To do these we need to overcome our fears and to open up and co-create with other companies.
Security
The operational efficiency in the industry will increase when we eliminate the 7 wastes namely transport, inventory, motion, waiting, over processing, over production and defects.
Cost
Addressing real time and emerging needs in a predictive manner enable recurring revenue along with increase in profit margin and reduce maintenance costs.
