The Internet of Things (IoT) is more than just one step in your digital transformation journey. It’s the driving force that will fundamentally change how your business runs.
The primary impact of the IoT resides in the exponential amounts of data generated to create a Live Business mostly outside classical IT. Using the IoT for demand and forecasting is an attractive idea to cope with the increasing speed of customer demand, but the biggest impact is linking digital-savvy customers and consumers to the brand.
The consumer products industry is already exploring the use of the IoT and will reach mainstream around 2018, according to IDC. Gaining operational efficiencies with the IoT, such as predictive maintenance and improved logistics, is certainly an idea that is already tested by the industry, and we can expect more to come. Meanwhile, connecting products and making them interactive is in strong demand from customers. And this is only the beginning!
Since the IoT will surely generate significant changes across a wide variety of industries, IDC researched the impact of the IoT in four industries: retail, consumer products, discrete manufacturing, and healthcare. Find out which IoT opportunities your consumer products business should pursue. Watch this interview with Simon Ellis, research vice president for manufacturing at IDC.
For more information on creating the moments that matter to customers, anytime and anywhere, see The Digitalist’s executive research on Live Business: Live Customer Experiences for the Digital Economy.
Kai Goerlich is the idea director of Thought Leadership at SAP.