The real value of IoT & how businesses are changing to take advantage of it

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How to prep your business for success in the connected device revolution

IoT & BUSINESSTHE INTERSECTION OF

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JOE SALOWITZ Director at Universal Mind

@joesalowitz

bit.ly/momoGR

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AGE OF MANUFACTURING

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CONNECTION COMES TO BUSINESSES

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CONNECTION COMES TO CONSUMERS

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CONNECTION COMES TO PRODUCTS

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THE TIME IS NOW

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Forbes

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Over the next three years, every major manufacturer will have to include connectivity in its business product lines or logistics. Consumers will demand it soon, but Wall Street will demand it first.

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AutomotiveTESLA

ApplianceWhirlpool

EnergyConsumers Energy

FurnitureAutonomous

HealthBrighter

InsuranceHelium

HomesNest

Property ManagementStout

CitiesSmart Cities

RetailMacy’s

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The anatomy of a connected device

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Monitoring

Control

Optimization

Autonomy

# M O M O G RExternal Information Sources Integration with Business Systems

Lots of Software, Rules & Analytics Engine, and a Complex Data Database

Product Cloud

Network Communications

Connectivity

Hardware SoftwareProduct

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For businesses, IoT requires a shift in mindset because they will create

and capture value differently.

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Lots of Software, Rules & Analytics Engine, and a Complex Data Database


Hardware Software

External Information Sources Integration with Business Systems

‣New networks, cloud services, and data center equipment.

‣New applications and platforms.

‣New integration points with other business systems.

‣New security protocols.

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ManufacturingTraditional products need

to smarten up, and new products need to be created.

Teams now need to collaborate with Software and

IT and adapt processes to maintain products long-term.

One of the world leaders in traditional smoke and CO2 sensing alarms for decades, First Alert now offers an IoT-enabled product line.

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People are putting sensors on the machines that do the manufacturing, which allows

them to process the data to see something trending toward poor quality

Nick Kramer, Senior Director of Data and Analytics at SSA & Co

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PR & MarketingNew feature updates to

connected hardware need to be remarketed.

Businesses even need to be prepared to manage

customer backlashes.

In December 2015, Philips Hue pushed a firmware update to it’s devices that locked

out competition from being compatible.

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Marketers can now get very specific data on individual customers, allowing

for a one-on-one relationship with each customer that can last a lifetime

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SalesEnable recurring revenue through value-adding services, subscriptions, apps and more.

Voyce, a wellness manager for dogs, is a $199 device. But it also offers a $9.50/mo subscription to access your dog’s data.

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When you understand that customer really well, you move from it being

a one-time transaction to selling them a product as a service

Ryan Lester, Director of IoT Strategy at Xively

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Customer SupportProactive monitoring

and triaging over reactive diagnosis becomes the norm

Nest customers can receive custom diagnostic updates to their devices from customer support as needed.

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Imagine a scenario where the dryer company books a service appointment

for you as soon as your machine self-diagnoses a potential issue

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Human ResourcesTracking activity and engagement

to improve performance.

Attracting skilled IoT specialists to support the new infrastructure.

Building internal apps to increase engagement.


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IoT will generate an unprecedented amount of data associated with people and how they perform their jobs on a daily basis

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The common thread is data

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Biggest challenge facing businesses is in building the systems to gather, interpret, maintain, and utilize data

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Almost all companies agree that making data actionable is important, but…

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Only 51% are actually collecting data

# M O M O G RAlmost all companies agree that making data actionable is important, but…

# M O M O G RAlmost all companies agree that making data actionable is important, but…

Only 51% are actually collecting data

And less than 30% are

actually analyzing it and

making it actionable

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MANUFACTURING MARKETING SALESCUSTOMER

SUPPORTIT R&D

FINANCE HR

CEO

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SUPPORTIT R&D

FINANCE HR

CEO

DATA

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It’s estimated that by 2017, as many as a quarter of all large firms will

have dedicated data units

Gartner

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SUPPORTIT R&D

FINANCE HR

CEO

DATA

DEV-OPS

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SUPPORTIT R&D

FINANCE HR

CEO

DEV-OPS CUSTOMER SUCCESS

DATA

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Winners will know they’re winning long before losers find out they’re losing.

HBR

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Lots of Software, Rules & Analytics Engine,

and a Complex Data Database


Hardware

Software

1

IoT isn’t about the devices, it’s about the infrastructure.

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2

Get into the game by focusing internal. Have operations and facility

managers use smart things to optimize internal systems.

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3

Move value creation toward service-based

revenue models.

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Make data actionable and accessible.

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MANUFACTURING MARKETING SALESR&D

FINANCE HR

CEO5

Dedicate personnel to managing data, customer success, and

ongoing maintenance.

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JOE SALOWITZ Director at Universal Mind

@joesalowitz

bit.ly/momoGR