Value Creation & IoT Monetization (Part 2)
My previous article on monetizing IoT spoke about some of the key drivers of that space, the 10 main IoT areas, the importance of ecosystems, and other major considerations. In this follow-up article, I’ll focus on the 4 Values Framework that we’ve used to help several of our clients – both large, established companies and emerging startups – define their IoT strategies.
There are many ways to leverage the IoT to create greater value for your customers, and increase revenue streams and cost savings for your company. Each industry, ecosystem, technology, or customer segment will present unique opportunities.
We’ve found that the 4 Vs Framework is a good approach to identifying and prioritizing those opportunities, and ensuring your ability to deliver on them. Its straightforward structure will help you refine your IoT strategy and decide how best to monetize all that untapped potential. Understanding ecosystems, potential partners, and competitors is an integral part of this process. Read more – http://bit.ly/1U9ggwH