With the rapid and global growth of the Internet of Things (IoT) in the last few years, companies are embracing the potential of internet connected devices in order to spur innovation, improve performance, and generate growth and profits for their organization. Recently, Mike Roberts of LS Research, a Laird Business, and Gary Les of Huron Business Advisory teamed up to write an article titled, "Creating Value Through the Internet of Things".
The article provides unique perspectives in how past clients of these two organizations have succeeded in defining strategies that create value through the IoT in applications ranging from medical devices and fitness products to home appliances and emerging wireless technologies. "IoT isn’t just changing the way consumers and patients interact with products. It’s also transforming the business models of companies that are looking for ways to differentiate themselves from the competition." The article goes on to list five key steps that explain how businesses can assess and adopt an IoT strategy. "We have identified five key elements to success in our experience working with companies that have used the Internet of Things as a means to bringing about innovation, transformation, and growth."
Click here to read the full article.