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IoT: Connected product opens new business models

Have you ever imagined entering into a business with full of inquiries and receiving all responses to the inquiries within the split of seconds at your finger-tip or by voice activated responses - not ever having to deal with the receptionist or help desk?  

 

Internet of Things (IoTs) has made it all possible for us to create many paths to new business models. IoTs is happening all around us whether you are aware of it or not. It is the Internet of Things that has enabled and empowered the impossible and has now made it all achievable.

 

IoTs enable integrated products & systems and lead to the creation of new business models - which means discovering new revenue streams!

AWS IoT, Azure IoT Suite and Azure IoT Edge have changed the way how we do business today. IoT devices and their back end technologies intelligence such as Cortana Intelligence, AWS Lambda are the future of building new business models in all industry types. 

 

Digitally Charged Products:

As a supplier, you can buy a physical thing with a number of IT components (sensors, actuators, internet connections and cloud based data analysis.) As a customer, you then not only profit from physical and local functions but also through a series of new digital services. The possible applications that can be developed are endless.

 

Some interesting examples of use cases: 

 

1) Box of goods knows when it's empty and signals when it needs to be restocked.

2) A watch that detects your heart rate and informs the physician if there were anomalies occurring.

3) Energy suppliers can run their network more efficiently based upon the data that is received by the energy users  in real-time.

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