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How can your business capitalize on IoT?

Capitlizing on IoT connected services
Capitalizing on IoT connected services
Capitalizing on IoT connected services
August 11, 2016

by

Jessica Morales

Airlines. Insurance. Farming. Auto makers. Home security.

Companies across every industry are transforming the way they do business by re-envisioning their products into connected services that amplify value for customers, deepen data insights, and drive new, recurring sources of revenue.

In other words, they are capitalizing on the Internet of Things (IoT). You can learn more about this by downloading our complimentary whitepaper. Here we’ll share some insights to get you started…

Tap into the core benefits of IoT

Empowering your customers and your business with always-on connected services is transformative in many ways:

ABB quote on internet of things
  • Save money. From managing smart vending machines to streamlining a mobile enterprise, companies are leveraging IoT controls to run a more efficient and cost-effective business. You can automate connectivity provisioning and processes, simplify billing, lower costs with remote diagnostics to reduce on-site visits – and much more.
  • Grow revenue. Many companies are using IoT to enhance existing products and build new revenue streams. Smart home vendors, for example, are tapping into endless possibilities to deliver new ways for homeowners to control connected objects and convenient services from anywhere through mobile apps.
  • Improve customer experience. Connected devices and services substantially increase your ability to capture actionable data for improving customer experience and innovating new ways to add value. Companies like ABB capitalize on real-time, remote monitoring of industrial machines to help eliminate downtime and proactively solve performance issues before they impact customers.
 

Be ready to tackle the core challenges

Of course, these great opportunities bring a unique set of challenges. To be successful at delivering connected services, you’ll need a plan and a platform that enables you to easily control all the moving parts quickly and efficiently as you grow your IoT business.

  • Launch. Before going to market with your IoT services, you’ll need to map policies, permissions, usage and rate plans to the different states of use for connected devices, such as testing, activated, deactivated, etc. That way you’re in control of what’s working and when.
  • Manage. Define rules for how your devices and services should behave, and constantly monitor them to optimize performance. Automating rules and responses gives you a powerful boost.
  • Monetize. Leveraging connectivity to introduce services that grow revenue is one of the great wins of IoT – but to get it right, you’ll need to ensure your devices are running at the lowest possible cost at all times.

Get inspired by real-world IoT use cases

If you’re new to connected services or wondering how to transform from a product business to a service business, our white paper, Capitalizing on the Internet of Things is loaded with real-life examples to get you started.

Learn how companies worldwide are using IoT connected services to amplify efficiency, evolve products, deepen customer engagement, and unlock new revenue streams.

Want a head start for your new IoT business?

It’s easy to get started – just request a no-obligation trial kit from a mobile network operator. If you are in the United States, take advantage of the new AT&T IoT Starter Kit. We partnered closely with AT&T on this kit, which provides all the tools you need for IoT innovation, including connectivity, LTE hardware, application services, cloud storage, and more.

Get started building your IoT solutions with your own Starter Kit: https://starterkit.att.com/.

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