For manufacturers, the Internet of Things (IoT) is becoming more than about efficiency and maintaining machines. Now, it’s an opportunity to run as Live Business to fundamentally change how products are made and resources are used.
Connecting the unconnected and distilling valuable insights from the generated data stream will be the prime differentiator for manufacturers. According to IDC, more than 30 percent of manufacturers are either running or piloting their own IoT initiatives. Early movers are positioning themselves for significant cost and competitive advantages by exploring one of the following three IoT use cases:
- Connecting products for value-added services
- Connecting assets for efficiency and reduced downtime
- Connecting the supply chain for visibility, resilience, and efficiency
The IoT will surely generate significant changes across a wide variety of industries. To explore this trend, IDC researched the IoT’s impact across four industries: retail, consumer products, discrete manufacturing, and healthcare.
Find out which IoT opportunities your manufacturing business should pursue. Watch this interview with Heather Ashton, Research Manager for manufacturing at IDC.
For more on the how digital transformation is happening at different speeds and on different scales, check out the research paper “The Internet of Things and Digital Transformation: A Tale of Four Industries” on the Digitalist Magazine online.
Kai Goerlich is the idea director of Thought Leadership at SAP.