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Jun 2017 - IDC Perspective - Doc # US42573917

Understanding and Creating Successful IoT Business Models

Author: Vernon Turner Senior Vice President of Enterprise Systems and IDC Fellow for The Internet of Things
Abstract

This IDC Perspective explores the challenges of building and running an IoT environment, in which IT and the C-suite have a new mission. At the business unit level, line-of-business managers are being pushed to move faster, ask for more information about their customers, interact more with their supply chain, and listen and respond to their customers. In this shift, we see IoT play a significant role in helping businesses become digital companies — in fact, we see an IoT strategy making many impacts on business models.

"IoT deployments will create insights into businesses that technology leaders have never seen nor thought about," says Vernon Turner, senior vice president, Enterprise Systems and IDC Fellow for The Internet of Things. "Technology buyers will quickly realize that business units will be looking for opportunities in adjacent lines of business and as such need to invest in a horizontal 'open data platform' that allows discrete and varied data sources to be easily ingested into existing data repositories."

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