The Internet of Things (IoT) presents one of the largest trends in the technology industry right now. In fact, Gartner recently forecasted that 8.4 billion connected things will be in use worldwide in 2017, up 31 percent from 2016. The enterprise alone is set to employ 3.1 billion connected things this year.
To stay ahead of competitors, many companies are seeking to shift to a digital strategy and integrate IoT. However, many leaders are simply trying to find their way to ROI through the dark. So, how much of this really adds up to revenue opportunity?
Based on more than a decade of experience with brands like Philips, Stryker, Whirlpool, Herman Miller, and Milliken, we have put together five key considerations to help you successfully turn IoT into ROI.
1. Clearly define your stakeholder’s needs
2. Develop new models of value creation in your organizations
3. Organize people, talent and processes around innovation
4. Refine the user experience
5. Create a vision
For more on each of these steps, we invite you to download the guide here. No matter what stage of the process you find yourself, Twisthink can help. Send us a note at firstname.lastname@example.org and let’s talk.