Billions of devices, sensors, monitors, meters and chips that are able to communicate via the Internet make up The Internet of Everything. It’s transformative I-SMAC role is to allow visibility into and control of processes, functions and transactions previously beyond the reach of automation.
The Internet of Everything (IoE) provides organizations the opportunity and the obligation to enter or create new markets, to enhance the value of current offerings, and to transform the accuracy, timeliness and cost basis of management control processes.
The number of web-addressable devices is rapidly growing; soon to be larger than the world’s population. Any person, app or other device can direct them or control them. And, these devices can provide constantly updated performance, usage and other data to any person, app or device.
Insurance companies can step beyond pay-as-you-drive to Pay HOW You Drive policy offerings. Retailers can make it easier to find what you want in a store and make relevant offers based on where you stand at any given moment. Hospitals and care givers can provide remote monitoring and informed advice based on remote medical measurement.
In pursuing these opportunities Return on Intelligence recommends a set of actions beyond a scan of what’s happening in a given industry. Organizations should systematically examine the edge of their existing infrastructure, the edge of their systems reach, and imagine the potential impact of stretching it via IoE solutions. Importantly, though individual ideas will have value it is the compounding of ideas that will offer transformational impact.
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