Digital transformation in the Internet of Things
Connected companies need to master the challenges of digital transformation.
To do so, they need to apply business transformation strategies such as developing digital business models, creating IoT platforms, and setting up IoT ecosystems to achieve maximum interoperability. Following file sharing, e-commerce, and social media, the next generation of the internet is connecting things and devices: the Internet of Things (IoT). We expect that there will be more than 15 billion connected devices by 2020, ranging from sensors and security cameras to vehicles and production machines. Connecting devices generates data that opens up new digital business models and revenue streams. The insights gained from this data in turn give rise to new services that can complement the conventional product business.
In the age of the customer, traditional manufacturing businesses must rework the structure and culture of their organizations to address rapidly changing client expectations. This Forrester report helps CIOs prepare for the evolving working relationship with suppliers in the supply chain concerning Internet of Things opportunities. Moreover, this report provides valuable insights into how to leverage a separate software engineering business unit to drive digital transformation efforts.