Join us for this live webinar on Thursday, June 25 at 10 a.m. Pacific, 1 p.m. Eastern. Register here for free.
A lot has been written about the deluge of data that business leaders have had to embrace over the past several years. But what we’ve experienced till now is a mere blip of what we’ll see as the Internet of Everything becomes a reality. According to a Gartner report earlier this year, there there will be 25 billion connected ‘things’ in use by 2020. With that, comes a quantity of data that has the potential for business leaders to maximize revenues on a whole lot of fronts.
“People now are just starting to try and get their heads around what the IOT is and how it impacts their business,” says Rob Patterson, VP of Corporate Strategy for the analytics company ColdLight, a PTC business. By people, Patterson’s referring to anyone who’s manufacturing devices or products that that have devices or sensors, or operators of those devices, or companies who will benefit significantly from the information from those devices.
“The biggest value that we see with the Internet of Things is the data that’s coming off devices,” says Patterson. “The handshake between human intelligence and machine intelligence with [the right technology platform] is really going to revolutionize the way people interact with IOT and the way people optimize their IOT environments.”
The use cases for business are almost infinite. Mainstream media tends to talk a lot about intelligent refrigerators, washing machines, and self-driving cars, but for business leaders, the application of IOT will have a significant impact on mission-critical business operations, costs, and revenues.
Chris Clayton, Senior Vice President, Business Development for ColdLight — who will be one of our expert panelists during this eye-opening webinar — gives the example of preventative maintenance on heavy pieces of equipment used to service oil fields. These are hugely expensive assets, and currently, their life span is about 18 months.
“You could literally double that time frame by appying an intelligent layer with analytics off of the IOT stream,” says Clayton. “Machine learning tells us how long it takes to service the product, how much it costs to service it, and the combinations of factors for when that piece of equipment fails. And when you provide a way to accurately and confidently lower the cost of producing goods and services, you generate new revenue opportunities, the proliferation of more products, and more services at lower prices points.”
The standard reporting tools that C-suite leaders have relied on till now include largely historical data. Combining that historial data with the type of real-time data available through connected devices gives decision-makers the capabilities of setting impactful course corrections.
Clayton talks about a CEO who currently may have sales data and service data, but then with the IOT, now adds in data coming from a customer’s set top box, iWatch and cell phone. “I now have far more descriptive and detailed information about usage patterns than I ever had be before,” says Clayton, “so I now have far more data points that can give me a truly accurate picture of whether a person’s going to stay a customer or not — and informs decisions in a moment in time that can change a business almost instanteously.”
Don’t miss out!
In this timely webinar, our expert panel will be exploring data as well as a a number of other important factors essential for understanding the impact of IOT on business. What does the Internet of Everything mean for accelerated processes? How will it impact security? What are the biggest areas of our society that will be impacted?
Whatever business you’re in, it will likley be impacted by the IOT — and those who will embrace it, will come out the winners. Join us to get essential learnings that will impact how you think about entering the age of all-things-connected.
What you’ll learn:
- How you can drive innovations and create new business opportunities through these technologies
- The ways cognitive technologies can help businesses drive revenue in unexpected — and uncharted — ways
- How to balance the benefits of device intelligence and user privacy
- The scoop on why on-device intelligence will be key in the new era of smart connected things
- The role of cognitive technologies and biometrics on securing your organization’s critical devices
Maged Zaki Director of Technical Marketing, Qualcomm Technologies, Inc.
Jim McGregor Principal Analyst and Founder, TIRIAS Research
Russ Fadel President and General Manager; ThingWorx
Chris Clayton Senior Vice President, Business Development; ColdLight
This webinar is sponsored by Qualcomm Technologies.