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WebNMS 2017 Predictions: IoT Driven Business Dynamics for the Year 2017

VMblog Predictions 2017

Virtualization and Cloud executives share their predictions for 2017.  Read them in this 9th annual VMblog.com series exclusive.

Contributed by Prabhu Ramachandran, Director - WebNMS Division of Zoho

IoT driven business dynamics for the year 2017

Internet of Things has come long way in terms of how data from ‘things' are consumed and how businesses are reacting to it. IoT is no more just a prototypical model of things connected to the Internet, passing on data real time for operations sake. Today, the world needs more; businesses need value. 2017 would see a lot more action in the IoT space.

IoT would propel IT/OT convergence this year:

While previous generation was content with isolated operations of the IT department and operations technology, businesses today have realized the importance of aligning the two entities for better results. Spite of IoT having forged its roots into various verticals, IT heads and operations teams are hazy about the practicality of integrating IT with OT. 2017 the scene is likely to change - businesses would become immensely aware of the value it brings into the overall operations of an organization. For instance, data fetched from lighting, HVAC and other energy equipment in an enterprise can be correlated to the ERP/IT helpdesk and finance systems, thus triggering trouble tickets when replacement/ repair is required and reflecting usage pattern/maintenance expenses in financial records for future decisions.

What seemed majorly a far fetched theory, would be put into practical use this year, thanks to advanced IoT- bringing together the parallels of businesses. IoT would be instrumental in delineating the traditional processes and redefining how data is being used throughout the organization.

IoT driven future sales, marketing and support:

A successful business needs unambiguous data that could validate its relationship with existing customers and attract new ones through real-time intelligence. Customer management and retention have reached new levels of efficacy. This year IoT would cater to a larger business landscape: read sales, marketing and support.

It will reshape customer facing business processes, boost sales and pave way for contemporary business models. For instance, say a construction equipment renting company would start billing its customers based on measurable factors such as usage time, volume of material handled, amount of fuel consumed and the likes through remote monitoring, thus creating new, data - oriented revenue streams.

Organizations are now beefing up customer life cycle with additional information that enhances end-user satisfaction and drives sales that is truly demand driven. For instance a UPS/battery manufacturer can open up arenas for cross sales and better services through cloud based monitoring of the IoT enabled products; this way the vendor could keep track of health of sold products, keep customers informed about failing parts and take proactive measures before a complaint is latched. Similarly logistics companies would offer better customer experience through live apps that give out tracking/booking/availability details on the go. The data is now available for services/support team through triggered tickets and sales and marketing teams for future sales and client follow-ups. IoT - the savior in guise!  

2017 would witness emergence of vertical focused IoT Platform and SaaS:

So far IoT seemed a jargon with many vendors claiming to hold the 'platform'. Despite the number of IoT platforms in the market, adoption had been rather slow; lack of edge computing capability, device compatibility, implementation knowledge and the confusion over cloud/ on premise tenancy were some of the loose ends dampening the practical adoption. Realizing the need to be distinct, IoT players would start working on vertical specific platform in the years to come. Rather than entertaining non-specific, horizontal model, they would start developing end- to-end industry focused platforms. The transition might not be obvious, but the transition is real and happening. Vertical specific APIs would be built to cater to a defined group of audience like IoT for retail, IoT for building management, IoT for healthcare, banking and logistics and likewise. This would encourage faster and reliable implementations that match exact customer requirements.

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About the Author

Prabhu heads WebNMS - the IoT division of Zoho Corporation. With over 17 years of industry experience with the organization, Prabhu stirred the R&D of Enterprise IoT within Zoho. He specializes in telecom service provider software and Internet of Things Technology. Prabhu holds engineering degree in Electronics and Communication from the University of Madras. For more information visit: www.webnms.com

Prabhu-WebNMS 

Published Tuesday, January 03, 2017 9:04 AM by David Marshall
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