By Matt Jennings, Regional President, Americas, Bosch Software Innovations
As access to data in the Internet of Things (IoT) becomes greater, numerous opportunities arise to create new revenue streams, drive operational efficiencies and improve customer service. While many organizations today have connected their assets, most have only begun to realize the value they can glean from those connections.
In the majority of IoT applications the data collected is typically utilized to support one defined business case. However, if an organization is connecting its assets and harnessing resulting data, numerous opportunities exist to leverage this data in multiple areas without a significant investment in technology. Simple and cost-effective IoT platforms are available, which allow organizations to creatively apply gathered output, such as machine data, and leverage it across the enterprise.
Traditional Approach to Utilizing Device Data
In a traditional approach to utilizing device data to support business cases, business leaders begin by identifying business requirements, designing a solution and providing documentation to a development resource. The business stakeholder must then wait to receive the enterprise value as development and testing occurs. From documentation to implementation, the process can take anywhere from one to nine months, depending on the technical complexity of the deployment.
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