Business Strategy and Innovation Framework
predictive analysis to model future conditions . This past-present-future analytics approach will increasingly become a priority and competitive advantage across all elements of a business .
In this accelerated and competitive environment , the ability to enhance and create new customer value becomes key . Within any product or service , whether a website , a smartphone app , or a heart monitor , or factory floor device , cost and functionality must balance with customer sentiment and experience . This creates a situation in which enterprises must constantly look for ways to adapt business and operational models in real time , and to modify and add value to their products , services and customer experiences . Enterprises need to continuously aim to differentiate their offerings in existing markets and identify untapped opportunities in new markets .
This new environment also provides a plethora of opportunities for startups and small businesses that will have the potential to integrate into the production domains of large companies in a more agile way .
3.1.2 SOCIETAL DRIVERS
While the perceived value of IIoT relates primarily to business and operational optimization , it also has the potential to influence and impact society in a profound and positive way , including :
� creating new jobs and job markets , � shortening time for and improving human and machine decisions , � generating environmental benefits and � producing benefits for public health , safety and quality of life .
The connected , collaborative world will lead to an almost innumerable range of connection points , applications , products , data sources , and software / integration needs . Due to growth in business startups and established enterprises , there will be an increased need for a skilled workforce to advance IIoT adoption . This will require the creation of new roles and skills to provide technical enablers and services for this new industry .
An equally impactful benefit will come from enhanced decision-making processes , integrating data from internal and external sources to enable more effective and timely decisions . For example , in the case of a hospital , the connection and integration of bedside medical devices alongside traditional hospital information systems and other patient-care data could have a profound impact on both immediate and longer-term patient-care decisions . Similar potential for societal benefits exists in other industries , particularly in the context of smart cities .
The use of IIoT and associated data in reporting , real-time analysis and predictive models will help improve local and global environmental conditions . This is especially true in scientific research and businesses directly focused on environmental resource utilization . Improvement may be seen using IIoT to help focus on more effective utilization and analysis of past , present and future conditions . These industries , as well as IIoT use cases directly related to public safety and health will enhance quality of life and experience .
IIC : PUB : B01 : V1.0 : PB : 20161115 - 14 -