EDITOR’S QUESTION
The first is the cyclic process of customer
experience and satisfaction. You cannot
create a happy digital customer today
without investing in a superlative digital
user experience.
On the flip side as well, by investing in
building a superlative digital user experience,
businesses stand a good chance of creating
happy digital customers, as long as they
blend in analysis of data created in real time
from the IoT.
The other key area where aggregation of
customer data is being principally used
is safety of the environment. Continuous
monitoring by a multitude of sensors,
when aggregated over time, can clearly
and proactively flag upcoming instances of
failure before they are likely to happen.
Such an early warning system of upcoming
failures or defects or calls for action, can
save time and money needed to rectify
failures after they happen and the possible
societal impact of failures, versus taking
action before they happen, based on a high
probability of looming failure.
Reducing the cost of operation and
developing new areas of business are next
in line in terms of benefits from the Internet
of Things.
Building a business use case, deploying and
scaling the IoT along the customer journey,
aggregating the data, building analytics
in real time, and generating custom built
digital user interfaces on the fly, are all part
of today’s digital business work flow process.
Generating a return on investment is more
likely when all these are in place.
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