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Executive Brief
INTRODUCTION BY

Lionel Lamy

Associate VP
IoT Practice Leader, Europe

The Product Journey

iot

PRODUCTION IS
CHANGING

THE PRODUCT IS
BECOMING IRRELEVANT

CHANGE IN THE LIFE CYCLE

  • dollar
    From Components (cost)
  • dollar
    To finished product (price)
arrow

LEADING TO

  • dollar
    Product becoming irrelevant
  • dollar
    Connection / As A Service economy
arrow

with IoT

with-iot

connected product
(value)

Where are we today?

of organisations
have connected
and intelligent assets

prosentase

The Importance of IoT components in the Business:

  • 74%

    Connectivity

  • 72%

    Security

  • 68%

    Sensors

  • Enterprise Apps

  • 55%

    Predictive / real time maintenance

  • 47%

    Operations technology systems

  • 45%

    Enterprise applications

  • 55%

    Data mangement Platform

  • 35%

    Business intelligence

Individually these components seem less important in the IoT make-up.
Combined as one enterprise application, they potentially have greater impact on IoT success

In the next 6 months:

  • 45%

    of utility companies will have sensor-based grid optimisation

  • 35%

    of IME’s will have predictive maintenance services for connected products to sell value-add services for new revenue streams

  • 63%

    of automotive companies will be able to provide real-time risks

  • 54%

    of transportation companies will offer fleet monitoring and management

  • 48%

    of energy companies will have predictive maintenance for connected assets

Overcoming the Hurdles

Beyond the technical hurdles, businesses are faced
with the following challenges:

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Don’t know what to do
with the data
63%
unable to agree on KPI metrics
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Consider existing KPIs and those directly related to your business
58%
find it difficult to measure project outcomes
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Think about tools for monitoring
53%
can’t define their business requirements
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Work with LOB to understand the needs of the business
CAN’T GET THEIR IoT OFF
THE GROUND
61%
find it a challenge to build the business case
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Share the initial vision with stakeholders and partners for feedback
43%
are unable to manage the change
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Track and communicate progress to help generate momentum and support
32%
lack the appropriate staff/skills
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Map key skills with internal resources. Any gaps can be plugged with external providers and training
33%
have difficulty securing budget
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Identify key stakeholders to gain sponsorship

IoT Benefits

IoT brings several types of benefits to the organisation that can be grouped into four main areas:

N New revenue
E Engaging the customer
S Service & Brand Loyalty
W Work Productivity
Internal Benefits
63%
Optimize and modernize IT
57%
improve ops and bus processes
56%
driving innovation
External Benefits
68%
bringing innovation into the products
62%
improving customer support
50%
improve business and competition understanding

7 steps to drive IoT successfully

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1

CEO-Driven Approach

  • A vision on its own is not enough and needs to be driven from the top
2

Build an IoT Business Plan

  • Define your business plan with key measurable outcomes
3

Drive an Innovative Culture

  • Lead the market and be a trailblazer
4

Accept the New Stakeholder Landscape

  • IT (53%) may predominantly lead the IoT initiative, but production (11%) and R&D (9%) are take a leading role
  • Business units must have a vested interest in the solution
5

Continual Dissatisfaction

  • Strive for constant improvement in your IoT
6

Talent Management and Partnerships

  • Train and certify your resources to stay ahead
7

Awareness

  • Understand where your IoT resides. Determine which portions to maintain, and which to outsource to third parties

Do all this...

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And You Compete
To Be The Top In Your
Industry
or
Retire/
Become Irrelevant