The unstoppable digitization of our physical world has persistently changed how we live, travel, work and interact with each other. Rapid advancements in digital solutions have given rise to the Internet of Things (IoT), a global network of intelligent connected devices that enable people and places to connect in ways never thought possible. This creates an opportunity for enterprises across the world to reimagine their products and services, collect new types of data, power new front ends, develop new business models and improve customer experiences.
Rejuvenating the customer journey with connected devices
Gartner forecasts that by 2020, 20 billion connected devices will be used worldwide. These connected devices are not just smartphones or tablets, but dedicated objects such as connected cars, home appliances, drones, vending machines, etc. However, the biggest barrier to incorporate IoT strategies is most enterprises do not know how to use this technology and create automated intelligence systems.
Through this blog, we take an in-depth view of how to harness the power of Internet-of-Things and build a foundation that creates new business opportunities, revenue models and increased consumer convenience.
The current State of Internet-of-Things
Proliferation of IOT
Drivers of change
20 billion connected devices to be used worldwide by 2020
70 million US households to have at least one voice-activated device by 2020
70% of enterprises have deployed IOT solutions to refine their CX
Today, the emergence of IoT is driven not only by one specific technological advancement but by the rise of an entire digital ecosystem, including developments in data collection, aggregation, sharing, as well as data processing platforms that have the capability to generate smarter solutions. IoT will power important dimensions to achieve:
- Customer satisfaction
- Product effectiveness
- Service enhancement
- New datasets