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
