Definitions matter and they aren’t universal. In the digital landscape, we are each an interpreter navigating a brave new world. What is a digital strategy? Are we digitizing or digitalizing our business? Do those words mean the same thing or are they different? And what about digital transformation? Is this term a new business buzzword or a profound transformation on the horizon that requires significant preparation?
While technology advancements surrounding connected devices and data analysis hurtle forward – and costs and barriers to entry generally are falling – some companies still feel as if they’re missing out on something, scrambling to get on the cutting edge.
It’s safe to say that the Industrial Internet of Things (IIoT) has crossed into the mainstream. In part 1 of this blog series on monetizing IIoT, we shared some findings from MAPI’s recent white paper, developed with PwC, which focused on where U.S. manufacturers currently stand in their adoption and development of IIoT technologies. One finding in particular said it all: nearly nine in ten survey respondents said they are currently offering or are in the process of developing IIoT products or services.
As the Internet of Things (IoT) creates a world of connected devices, it also opens up possibilities to reframe established business models to deliver more customer value and more profitability. This offers companies disruptive opportunities.
Growth & Innovation, Marketing, Pricing, Strategic Marketing, Product Management, Strategic Planning, Strategy Development, Corporate Strategy, Operations, Information Technology, IT Security
We are in the midst of the inescapable growth spurt of the internet of things (IoT) and the industrial internet of things (IIoT). One estimate puts the number of all globally connected devices at 8.4 billion, one-third of which are business and industrial products.