Harnessing The ROI Of IoT

By Sarah Nicastro, publisher/editor in chief, Field Technologies
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Schindler Elevator’s investment in IoT has contributed to a 37 percent reduction in callbacks and the ability to return equipment to service 22 percent faster than traditional troubleshooting.

Research firm IDC estimates that global spending on IoT devices and services will reach $1.7 trillion in 2020. Field service organizations understand the value IoT can bring to their companies as well as their customers and are at varying stages of determining how to harness the ROI of IoT. Schindler Elevator Corporation has embraced IoT and has learned throughout its journey that while cutting-edge IoT technology is important, what will truly unlock the value of IoT is pairing the technology with a laser focus on people and processes.