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Report: IoT 2020 – Big expectations and cost savings

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Credit: © sdecoret – Fotolia.com

Credit: © sdecoret – Fotolia.com

Just recently, we summarized the findings of Goldman Sachs’ on the Internet-of-Things (IoT) report, and what they think where IoT might lead us to in the future.

Now, another report from Schneider Electric called “IoT 2020 Business Report” delivers some new findings on how large organisations will leverage Internet of Things technologies as a serious business tool by 2020. Their study is based on feedback by 3,000 business leaders from twelve countries.

According to their global survey, 75% of respondents were optimistic about the opportunities IoT presents this year. Almost every second out of three (63%) companies use IoT to improve their customer experience and analyze customer behaviour in 2016. They hope to solve problems faster, achieve better customer service and customer satisfaction ranking.

Furthermore, cost savings in automation seem to be high on the agenda, above all building (63%) and industrial automation (62%). As results showed the improvements in automation technologies almost half of the companies (42%) say they want to implement IoT-enabled building automation systems within the next two years.

The key driver for IoT is mobile for two out of three companies (67%). Thus, they plan to implement IoT via mobile applications this year, and 32% even in the next six months. Again, cost savings of up to 59% is the major driver for IoT implementation.

The confidence is the value of knowledge gathering and sharing already exists inside most companies surveyed. 81% feel that the data and/or information generated by the IoT is being shared effectively throughout the organisation. Fears are lower than expected. Only 41% of respondents connect cybersecurity threats with IoT business challenges.

“We’re past the point of questioning whether IoT will deliver value. Businesses now need to make informed decisions to position themselves to maximise IoT’s value in their organisation.” Dr. Prith Banerjee, Chief Technology Officer, Schneider Electric

However, Schneider Electric does not only publish numbers of their study but also provides the following predictions that business leaders might take into consideration.

1. The next wave of digital transformation.
IoT will bring operational technology (OT) and IT together while fueling a mobile and digitally enabled workforce: As more companies both expand and deepen their digitisation programmes enterprise-wide, IoT will increasingly take centre stage. This new wave of transformation will be enabled by more affordable “connected” sensors, embedded intelligence and control, faster and more ubiquitous communications networks, cloud infrastructure, and advanced data-analytics capabilities.

2. Insightful data.
IoT will translate previously untapped data into insights that enable enterprises to take the customer experience to the next level: When thinking about the value proposition of IoT, most businesses point to efficiency and cost savings as the key benefits. Yet access to data – including previously untapped data – and the ability to translate it into actionable insights, the hallmark of IoT, will deliver greater customer-service transformation and new opportunities to build brand/service loyalty and satisfaction.

3. Premise-to-cloud confidence.
The IoT will promote an open, interoperable and hybrid computing approach, and it will foster industry and government collaboration on global architecture standards that address cybersecurity concerns: While cloud-based IoT solutions will grow in popularity, no single computing architecture will monopolise their delivery. IoT instead will flourish across systems, both at the edge and on premise, as part of private cloud or public cloud offerings. Making IoT available across heterogeneous computing environments will help end users adopt IoT solutions in the way that best suits their security and mission-critical needs while also offering entities with legacy technology infrastructures a logical and manageable path forward, allowing them to transform over time.

4. Innovations that leapfrog existing infrastructure.
IoT will function as a source of innovation, business model disruption and economic growth for businesses, governments and emerging economies: Just as the Industrial Revolution, birth of the Internet and mobile revolution have driven advancement, innovation and prosperity, so will IoT. Businesses and cities alike will deliver new IoT-enabled services; new business models will emerge; and, in particular emerging economies will have a significant opportunity to quickly leverage IoT without the constraint of legacy infrastructure, essentially leapfrogging old ways. In fact, McKinsey forecasts that 40 percent of the worldwide market for IoT solutions will be generated by developing countries.

5. A better planet.
IoT solutions will be leveraged to address major societal and environmental issues: IoT will help countries and their economies respond to the biggest challenges facing our planet, including global warming, water scarcity and pollution. In fact, survey respondents identified improved resource utilisation as the number one benefit of IoT to society as a whole. In concert with the private sector, local and national governments will embrace IoT to accelerate and optimise current initiatives to curtail greenhouse gas emissions in accord with the breakthrough COP21 climate agreement, whereby 196 countries pledged to keep global warming under the threshold of two degrees celsius.

Spot On!
The Internet of Things has been seen as the main revolution from a technology perspective. The hype seems to be at an all-time high. Real business value is not only saving money though. Customer service improvements, better process optimization and smarter work and life opportunities will have big potential to bring IoT business value to enterprises in the future.

What is your experience on the value of IoT for your business?

State of the Market Report: Internet of Things 2016

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IoT Coffee MachineThe Internet of Things is said to have a major impact on the business world according to Jared Newman. Goldman Sachs even thinks that IoT opportunity for industrials could amount to $2 trillion by 2020. Connected cars, connected utility, connected houses, connected vineyards, connected streets, connected everything – the opportunities seem incredable bearing in mind that with IoT everyting can be addressed in the future.

Now, a recent report called “State of the Market: Internet of Things 2016,” shows that the Internet of Things (IoT) is already mainstream.

The motivation behind the high adoption rate is quite obvious: The opportunity for revenue growth drives many managers towards IoT adoption with data being the monetization engine behind it. Still, just 8% of the respondents make use of more than 25% of their IoT data these days.

Not suprisingly, the report also highlights that enterprises are turning to startups to help accelerate their IoT growth. In 2015, enterprise IoT startup companies outpaced funding for consumer startup companies by 75%.

Verizon’s experts think that IoT will continue to be a revenue driver for businesses both large and small due to the confluence of five macrotrends:

1. Consumer usage of smartphones.
High expectations to automation possibilities as of simplified interface. 81% of IoT adopters in the public sector believe that their citizens increasingly expect them to offer enhanced services from data and IoT.

2. Data monetization is wanted.
By 2018, almost 50% of businesses expect to be using more than 25%of their data. Descriptive data collection will become predictive and prescriptive data analytics. Paradigm shift from “big data” to domain experts expected.

3. Regulatory landscape will bring right ecosystem partners together to drive industry standards.
In the US, with the Drug Supply Chain Act manufacturers until late 2017 will implement systems to electronically transfer and store transaction histories for their prescription drugs including shipment information across their distribution and supply chain. Result: Thwart counterfeiting drugs and savings of $75 billion annually according to the World Health Organization.

4. Democratization of innovation by network connectivity, low power devices and IoT platforms.
Businesses can scale their IoT deployments from millions to billions of connections more cost-efficiently. With the new 5G, autonomous solutions such as cars and robotics will become a reality and new categories of uses cases will evolve, such as virtual and augmented reality for IoT deployments.

5. Security experts keep up with the development of technology by looking to arising threat vectors
Some old, some new – that will impact IoT deployments and ongoing operations. Data privacy, protection and processing will remain the biggest challenge for security experts.

Spot On!
Sometimes reports do not look at the data challenge of the IoT development in my eyes. The interesting aspect is that IoT offers some incredible opportunities to improve our lives, simplify our ways of health tracking and be informed about the status of our cars and houses. However, most of the use cases are often based on some cloud services that people do not trust in as the generated data is stored in some unknown data center somewhere in the world. I sometimes wonder, why companies don’t start to save the data in a personal private cloud that can be added as an add-on service to the IoT business.

But hey, maybe I am asking for too much at this stage of the IoT status. Thoughts?

Forecasting the Internet of Things and IoT start-ups to watch

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The forecasts sound almost incredible. Gartner estimates that Internet of Things (IoT) products and services suppling companies will generate incremental revenue of over $300 billion by 2020.

The analyst company IDC sees the worldwide market for IoT solutions to grow from $1.9 trillion in 2013 to $7.1 trillion in 2020.

Brands like the electric company GE predict the Industrial 4.0″ will add somewhat between $10 to $15 trillion to the overall global GDP over the coming 20 years.

Samsung will invest more than $100 million for IoT startups that will help the technology manufacturer establish new ecosystem for connected devices.

The Internet of Things is at an all-time high until today. Companies want to connect consumer devices, appliances, and services in order to connect their services with devices and then generate some smart data to leverage their value chain.

Interestingly enough Google owns some of the most promising IoT companies (Nest and Dropcam) already which will make some people look sceptic how the search giant will move more and more into their lives.

Smart devices are definitely the big trend for 2015. Whether it will be Jawbone though. After testing the wristband and it’s usability, I am not quite sure if this will be the way into the future. The car industry seems to be catching up though with their smart watches replacing keys and other driver necessities.

Even the whisky industry works with smart bottles now telling us how old the whisky really is, according to Venturebeat.

The guys at WRIKE just recently pulled together the 11 most ambitious IoT start-up companies should have an eye on. Furthermore, they added to their infographic three established brands which they think will have their big breakthrough in 2015.

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dmexco 2014 – Flashback in Quotes & Discussions

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dmexco 2014 Debate HallThe growth trend of the digital marketing show dmexco is impressive and continues to write a promising (hi)story.

Visitors: 31.900 – increase by 16% compared to 2013
Exhibitors: 807 – means over 65 exhibitors more than 2013
Speakers: 470 – as of various stages with new start-up village and work labs

This year I wanted to wait some days before I am writing my little review to see what really stayed in my mind, and what people were talking about after the event. This is what stayed in the brains of my friends – maybe it should reach you.

1. “dmexco is like the Lumascape brought to life.”
#Quote in Breaking Down Silos for Brands Panel
Damian Burns, Director of Global Strategic Partnerships, Google

2. “Nerd is the new black”
Brad Rencher, SVP & General Manager Digital Marketing, Adobe

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3. “Online is the new offline.”
Quote by Joko Winterscheidt, TV-Moderator

4. “The play is to work out the first against the second screen.”
Quote in “Addressable TV – A Marketers’ Dream Panel”
Jim Clayton, Executive Vice President, HE New Business Division, LG Electronics

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5. “The digital revolution is over, we are now in the digital evolution.”
Quote in Digital Revenue optimization 2.0 Panel
Sital Banerjee, Global Head of Media, Philips

6. “The brand in many ways need to take the back-seat. It can’t be all about the product if you move into the content section.”
Quote in “The Content Summit”
Jimmy Maymann, CEO, Huffington Post

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7. “@ft presence at #DMexco so big they don’t even have a stand! They are on every phone and tablet! @dmexco @ftbized”
Quote from #FT rep/via Oliver Matthews

The three main takeaways from the event for me were…
a) Trend: dmexco stages are challenging global TV stages.
b) Topics: TV goes mobile. Digital is leading corporate strategy.
c) Town: Cologne needs more taxi drivers and/or UBER subscribers.

Really looking forward to moderate the next dmexco, 16th and 17th of September 2015.

CU there!

Study: TV users are multitasking

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choosing from images streamConsumers are multitasking and using other electronic devices like phones or tablets when watching television. This is the conclusion of a recent third annual Video Over Internet survey of 3,501 consumers in Brazil, France, Italy, Spain, the United Kingdom and the United States. It states that the majority watched video content over the Internet. Obviously the tablet is showing the biggest increase in multitasking use.

“Consumers can’t just watch TV anymore. The rise in multitasking while watching TV suggests that scheduled programming, also known as Linear TV, may be losing its appeal for sophisticated users, presenting both challenges and opportunities for broadcasters and content providers”. Francesco Venturini, Accenture’s Media & Entertainment industry group.

The key findings in a brief overview: 77% regularly use their computer while watching television (16% increase to 2012). Just 17% of people using tablets while watching TV said their activity was unrelated to the TV content they were viewing. The use of tablets is different though as it correlated more closely with what respondents were watching compared to laptops or smartphones.

The study indicates that TVs connected directly to the Internet might still remain the ideal method for buying and watching online video on a TV. However, the use of connected TV is on a decrease in the last year (36% to 31%). The study shows that consumers are still not sure about the available options for accessing online video. Just 16% indicated a preference for an online connection through a set-top box, whereas 30% responded to watch daily online content the other way.

The use of tablets during television viewing is said to have the biggest increase in the past year (from 11% to 44%). The use of local online video service providers is increasing from 37% to 40% iwth almost the similar amount of a decrease in use by global providers like Netflix and YouTube.
Still, the majority of respondents identified traditional TV broadcasters as the providers they trusted most to present video over the Internet on their TV screen.

BlogHer Study: Are woman the mobile 'Generation Now'…?

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Millennials book their flights, hotels and probably would love to buy their drinks via their mobiles. They all get information in realtime. And the rest of the world? Do they also have acces to the world’s latest buzz, deals and chatter? One of the latest studies by the media network and publisher for women BlogHer states that our dependance on mobiles is massively increasing. Women manage and engage via our mobiles in all aspects of life – not important which generation it is. And if they don’t know, how can we know…?

They released some infographic that summarizes the results of their second annual consumer electronics study from December 2012. The stats are showing that we are all the mobile generation now. The study wanted to know when women of different ages usually buy electronic gadgets, what they love most about mobiles but also if fears accompany their mobile dependence.

BlogHer Study 2012 Mobile Gen

From these findings, they define three female mobile profiles…

The Recession Millennials (18-27 years old)
Unsurprisingly, Blogher describes Millennials as mobile natives. However, money stands in their way from diving into their early adopter reputation. Main fear? Their mobiles get stolen! Still, they are 31% more likely to “use a gadget until it doesn’t work anymore.”

The Gen X Early Adopters (28-45 years old)
The power-users and consumers are coming from the Gen X age. They love their mobiles for its capabilities to “do it all.” Standing between life and career, 25% said mobiles make them being more likely to be too distracted to focus on their family.

The Boomer Bargain-Hunters (46-64 years old)

Boomers want gadgets, but not for every price. They love hunting for bargains – and can wait 12 months for technical gadgets. Mobiles are their heartbeat. Still, data privacy has become one of their concerns.

Our question would be if this is not very much stereotyped. Or do you agree with this picture of the typical woman at different ages?

Study: In-car internet to become "the norm"

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Never will I forget the day some time between 2001 and 2002 when I went to the BMW pavilion exhibition in Munich to get an understanding of what “Connected Drive” means. Those days, even the people in the pavilion could not help us, and it took BMW three days to give us some proper feedback on this term via telephone. Today, the term is clearly defined as driving with internet access which enables all sorts of connected infotainment, and if you want to know more about it, you can get plenty of information here.

Every day today, people are sitting in their cars, grapping their smartphones while waiting at traffic lights – although a great Facebook page tells us not “Text-and-Drive”. The future will be different though…

According to the world’s top car bosses, in-car internet access is close to becoming reality. A recent survey by KPMG called “Global Automotive Executive Survey 2011” shows that speech recognition and internet connection with Wifi and 3G will become the norm in the future.

The results of the study state that 37% of the 200 responding car executives see “infotainment” to be almost as important as car safety. It makes clear that over the next five years, car buyers will see in-car gadgets provided by the big tech firms like Apple, Google or Microsoft.

The new Toyota Avensis commercial in Germany features in-car texting and internet.

Intel already announced some collaboration with Toyota at the end of last year. Intel forecasts that the connected car is the fastest growing technological device following smartphones and tablets.

According to Reuters, Mercedes-Benz USA is bringing Facebook to its cars with the new in-vehicle telematics system that will be unveiled at the Consumer Electronics Show in Las Vegas this week. It allows drivers to access Facebook on the road. However it is not exactly the same as using the social network on a personal computer or a smartphone. “The version of Facebook offered in Daimler AG’s Mercedes is stripped down to a limited set of features, specially designed for drivers and centered around the locations of friends and businesses.” Audi’s A7 series already offers a built-in 3G wireless which shall be extended to other new models.

Spot On!
Car manufacturers will look out for cooperation opportunities with IT companies as well as telecoms and the music industry. It will be interesting to see how much the in-car technologies will evolve and develop in combination with the Hybrid technology that will get the main investment according to 53% of the car execs. Apart from that 57% see speech recognition and built-in navigation as important product issues for consumers in the future. Just imagine you can send your tweet, write a blogpost or a Google+ status update without taking your eyes from the streets. If speech recognition performs, a lot of the dangerous texting and driving could end. Although it will take some time for people to adapt to the nex technology.

Cost per User – the next digital currency?

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The discussion about the best advertising currency is long-lasting. It may never be ending. Still the discussion needs to be continued. The web publishing space had all the options on the table: cpm, cpi, cpc, cpl, cps and so on. And each and everyone of those failed in a way that makes all sides of the publishing and web value chain happy. The only currency that did not seriously come up as a currency ratio in media is cost per user (cpu) although every company follows this metric to evaluate their website costs.

Advertisers love to purchase ‘cheap’ quality space of extraordinary target groups. Platform owners need premium-price compensation models in order to provide high-quality content to their users. The users don’t care. Although they are the stumbling block, the center of attention, in this issue between platform providers and advertising clients. Now that web 2.0 and social media comes into the ‘cpx-game’, everyone gets a chance to rethink digital currency models. What is missing in this discussion is the cost per user model.

A Retrospect on Controlled Circulation
If we go way back to the beginning of this century, there was an interesting discussion about controlled circulation going on in the publishing industry. This discussion indicated that the best value of a medium is the registered or qualified user. Someone who gives away a lot of personal data in order to receive a medium for free. And there were numerous print magazines in the market that do and did controlled circulation. And today? There are hundreds of community-based business models on the web – all of these are to a huge degree controlled circulation orientated. Only a few of these businesses know about it, or see the premium value of controlled circulation media in this advertising space.

Now, what exactly is controlled circulation?
In a lot of meetings with clients, the question came up a thousand times when we explained our old community model. Controlled circulation is a distribution model, usually free of charge, for newspapers and magazines that wanted to have a deeper control of their target group. Thus, controlled circulation magazines offered the ideal targeting of the best quality audience for their advertisers. The benefit was quite obvious if we read the articles here and there. Advertisers spend more money for an ad in the controlled circulation arena than for the classical news-stand magazine. In booking controlled circulation media advertisers know in details what target group get for their money. This premium model could have been applicable to business models on the web. But only a few saw this option and took advantage of the ‘closed’ access door idea.

Why is controlled circulation a winner?
The big benefit of controlled circulation is that non-profit organizations audit the reader database of magazines or web platforms in terms of database quality and quality reach: for print BPA and for web platforms ABC Electronic. Both independent ‘controllers’ double-check in the means of the advertisers what kind of target group quality content providers ‘pretend’ to offer to the advertisers. Advertisers love the audits as there is some reliable data that marketers could show to their bosses or the management team after the sales people had captured the marketing-office for their sales pitches. It needs to be said that the audits were based on projections – only 10-20% of the total database really was tested, but still the quality check was much appreciated by the advertisers.

Controlled circulation and the modern web communities
The question is: Why did the controlled circulation discussion ‘die’? Why was it not carried on as an idea for a premium-priced advertising currency in the web world? Why did the focus on the high-profile individual user registration get lost when there was such a huge benefit for the advertising industry? Did it get killed alongside the top-valued personalization idea which got stepped down by the advertising cpm valuation? Maybe…

Nevertheless, in days where social media, social networking and community-building is exploding, is it not the right time to focus on the value of the registered user in terms of digital currency and critically scrutinize the ‘odd’ cpm valuation? Does not the individual need to be in the center of attention of the modern web 2.0 world? The modern web individual that communicates with companies. The one that reads, comments, blogs, publishes, networks, rates or reviews?

A vision
Just imagine there was a kind of database that all magazines and platform owner have to use who want to earn advertisign dollars. That database is held by a non-profit organization or the government. A system where all users unite, active and inactive web users. Every user could define their most interesting platforms and status of activity which would lead to a cost per user index for each online magazine or web platform, based on consumption intensity of the average user, social networking value of the active user and staying-time frequency of each individual. In the end, the combined data of the website generates a platform coefficient which leads to a cost per user. This is the cost that advertisers want to book, right?

Spot On!
In the modern social media world registration processes become daily business for users. If it was one database as described above, the users would be held responsible. They would be more careful on how to define access and care about their data. From day to day, users get more open minded about showing their data on other media including registering their preferences, interests and hobbies. And platform owners benefit from that. In the future, it will become a state of the art for publishing houses and digital platform owners to have their own web community visible on the side-bar for new visitors. This is a huge success for web platform owners. What could be a better reference if you can show your audience, visual and accessible for everyone with avatar picture that the users upload themselves? Bloggers already use this option to attract more interest. The single user will become the reference for each platform.

So, what if the best targeting measurement of a platform becomes the cost per user (cpu)? If we think about how connected (via Google, Facebook or Yahoo) these platforms are becoming and see all the website and social media metrics we could monitor, the question rises: Is there an option to standardize registration on web platforms and communities plus integrating all the generated data of these platforms into one non-profit system or organization which calculates a cost per user index based on targeting criteria like b2b or b2c and different demographic data? Is Cost per User the next digital currency? The discussion is yours…

News Update – Best of the Day

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  • Einst war Second Live der ‘rising star’ der Web 2.0-Emporkömmlinge. Inzwischen schwächelt Second Live wie auch Google Lively. ‘Haben virtuelle Welten noch eine Zukunft’, frägt nun turi2 – das Interview mit Prof. Thomas Schildhauer, Leiter des Institue of Electronic Business an der Berliner Universität der Künste. Im Video rät Prof. Schildhauer Unternehmen dennoch in die virtuellen Welten gemäßigt zu investieren und auf vorhandene Szenarien zu setzen sowie nicht gleich Inselwelten und Serverlandschaften anzuvisieren. Die Hilfe von Dienstleistern empfiehlt sich hier bei den ersten Versuchen, um zu sehen, ob das Kundenklientel virtuell vor Ort ist, Marktforschungen angenommen werden und die vorwiegend ‘jüngere Zielgruppe’ auf das Unternehmen anspringt.
  • Online-, Viral- und Leadkampagne in einem: Orange ist clever und macht eine der besten Marketingaktionen, die die Mobile Provider je gestartet haben. Liebe Firmen schaut Euch an, was passiert, wenn Rugbystar Sébastian Chabal gegen einen Strassenkicker-Torhüter antritt…
  • The Power of Twitter: Johnson&Johnson wird von Twitterin zum Kampagnenstopp ‘gezwungen’, nachdem die Firma für das Schmerzmittel ‘Motrin’ geworben hat. Für Dirk Ploss die Chance seine Marketingformel ‘1 = n hoch x’ publik zu machen…