Fully realizing IoE’s business potential
The Internet of Everything will soon become an enterprise reality, and businesses can make sure they are primed for future success by making key changes now.
IoE, also known as the Internet of Things, is the idea that one day, all objects and people will be interconnected. Although the rise of smartphones and other mobile devices is beginning to put this reality in motion, IoE is not yet fully realized. In a June blog post, Cisco Canada President Nitin Kawale wrote that very few items are currently connected, thus showing how vast IoE’s potential truly is.
“The IoE asserts that 99 percent of things in this world are unconnected and considers what might be possible if we were to intelligently link all of it,” he wrote. “That would be truly amazing! Just think about how dynamically our world has already changed for the better during the past 10 or 20 years by simply connecting less than 1 percent of things.”
What does IoE mean for business?
As the number of networked devices and objects increases, so too does IoE’s potential. Examples of its benefits that Kawale listed include energy firms being able to collect information about critical equipment in real time, oil companies more effectively tracking shipments to avoid disaster and healthcare providers gaining unprecedented information about individual patients.
If more things were connected to the Internet, then businesses would be able to collect far more information about all of its everyday processes and workflows. As the current big data analytics trend illustrates, more data can often equate to the accumulation of actionable insights and tangible business gains.
“Through a constant gathering of huge data volumes from every connected source, the processes of all industries and occupations would continually improve,” Kawale wrote. “Predictive analytics – attaching meaning to all that data gathered on intelligent devices – take on a whole new level of capability and usefulness for every imaginable business and organizational undertaking. The world and all of its processes become smarter, automated and better because these are intelligently connected.”
Due to all of these benefits, Cisco expects IoE will lead to significant added value to Canadian businesses. This year, companies in the country are on pace to realize $30 billion in added value from IoE, a 2013 potential value of up to $57 billion. Over the next few years, Kawale predicted that it could lead to $400 billion in added value for enterprises in Canada.
How can businesses prime themselves for future success?
IoE is potentially transformative, but the results that Kawale described will only come about for many businesses after a significant and potentially disruptive shift has occurred. Companies cannot expect to reap immediate rewards from IoE as soon as it becomes an enterprise reality, and they should instead be taking steps now to make sure infrastructure and employees can accommodate IoE in the years ahead.
To make sure it is ready for IoE in the future, a company now should partner with an IT consulting services firm like FlexITy. As one of Canada’s largest managed IT service providers, FlexITy provides its clients with the very best technology and knowledge available. By first aligning IT strategies with current and future business goals, FlexITy ensures that enterprises are maximizing profits today and are prepared for whatever the future may bring.