IoT is changing how enterprises think about business transformation
for two important reasons. First, when products are connected, customer relationships can become real-time and immediate – and even proactive. Second, the data collected from connected products and services enables not only building new and better products, but also allows the anticipation of customer’s needs
and development of smart products and environments
. Both of these outcomes are facilitated with IoT technologies and provide enterprises with amazing new opportunities for business transformation.
But IoT can also introduce tremendous risk. IoT can increase risk
to sales of existing products and services, internal organizational workflows, and relationships with customers. While the opportunity is great once a product is connected, the detrimental effects are equally as great if execution, technology, and supplier choices are poor.
In the second of four white papers in the Real IoT series, we outline the eight questions
that will help you turn your IoT vision into reality. These questions allow enterprises to work backwards from their business goals to target the right IoT solutions for implementation, align internal capabilities to the right IoT supplier partnerships, and finally build the right governance and lifecycle management processes that ensure continued IoT success.