Use Cases: The path to value from the Internet of Things
By: Andres Rosello, Marketing Director, PTC
By: Andres Rosello, Marketing Director, PTC
If you are in the business of creating, operating or
servicing things you have likely seen a barrage of “billions and trillions”
reports recently describing the impact of the Internet of Things (IoT) on your
business.
servicing things you have likely seen a barrage of “billions and trillions”
reports recently describing the impact of the Internet of Things (IoT) on your
business.
Cisco
predicts we’ll see as many as 50 billion “things” connected to the Internet by
the end of this decade. That’s a four-fold increase in just six years.
predicts we’ll see as many as 50 billion “things” connected to the Internet by
the end of this decade. That’s a four-fold increase in just six years.
GE
estimates that the Industrial Internet has the potential to add $10 to $15
trillion to global GDP over the next 20 years.
estimates that the Industrial Internet has the potential to add $10 to $15
trillion to global GDP over the next 20 years.
However, in order to create real business value in a smart,
connected world, we need to shift our focus away from these “billions and
trillions” reports and identify the specific IoT use cases that enable each
organizational function to transform their business processes and improve
operational effectiveness or create strategic differentiation.
connected world, we need to shift our focus away from these “billions and
trillions” reports and identify the specific IoT use cases that enable each
organizational function to transform their business processes and improve
operational effectiveness or create strategic differentiation.
While some organizations have started to create tremendous value
from the IoT, data shows that the majority of organizations are still
struggling to get started. IDC
research found that while 66% of Discrete Manufacturers and 67% of Process
Manufacturers are actively pursuing IoT initiatives, less than half (40%) of
those Discrete Manufacturers and only about half (55%) of those Process
Manufacturers have even begun a pilot.
from the IoT, data shows that the majority of organizations are still
struggling to get started. IDC
research found that while 66% of Discrete Manufacturers and 67% of Process
Manufacturers are actively pursuing IoT initiatives, less than half (40%) of
those Discrete Manufacturers and only about half (55%) of those Process
Manufacturers have even begun a pilot.
Why the delay? Organizations struggle to define and
prioritize IoT use cases and develop a business case to fund initial
investment.
prioritize IoT use cases and develop a business case to fund initial
investment.
To help overcome these challenges we have defined the top 26
IoT use cases based on hundreds of customer interactions, and organized them by
the business function or stakeholder they benefit.
IoT use cases based on hundreds of customer interactions, and organized them by
the business function or stakeholder they benefit.
To learn more about each of the top 26 IoT use cases, visit PTC.com.
