Connected Solutions: Creating New Revenue Streams and Service Offerings
May, 30 2014
Drive Business Value with a Connected Solution Strategy
The Internet of Things (IoT) is created when physical objects are connected to the Internet. For businesses, IoT connectivity creates the opportunity to collect data that can be used as real-time business intelligence. But, it’s what organizations do with that intelligence that really matters. One company, ATEK Access Technologies, LLC, used the IoT to create innovative products for the oil and gas industry. Then, they brought the product data into their organization’s business processes to create a profit-generating service. The technology company used the IoT to “servicize” their business, and that move has differentiated them from the entire industry.