The 7 commandments of IoT: Tata's wise wordsGuillaume Vives - LinkedIn
As many of you know, I am an inveterate consumer of IoT white papers. The latest IoT study from Tata Consultancy has a great section on how companies with the greatest revenue increases from IoT initiatives differ in seven key ways from firms with the lowest gains. “First, the early IoT leaders are more likely to digitally re-imagine their businesses and produce substantial value for customers – not just value for themselves. They’re usually organized around product lines. Enterprises need to re-organize themselves to reflect those changes. “Second, they deliver that value through new business models, product and service offerings, product bundles, and data. As my CEO Tien Tzuo put it succinctly in his LinkedIn post on the topic, IoT turns products into services. That means your entire business model needs to react accordingly. Your finance department is going to have to start thinking as creatively as your R&D department. “Third, they appear more likely to see the breakthrough potential of the IoT: getting the ultimate truth on how their products and services are performing for customers, as well as actual usage patterns. Tata has a great quote from Caterpillar CEO Leroy Holt on this point: “We have slightly over three million machines running somewhere in the world every day. Source: www.linkedin.com
