Advanced Operating Models
Oct 06, 2016

Is IoT and IoTA survival food or fad?

We already live in the connected, fast, automated, and targeted digital age. The future with IoT will be defined by how well people's expectations are met, not how fast new technologies get pushed. With competitors increasingly engaging IoT and using IoTA, it is no longer a fad or swish option. It will soon become too essential to ignore.

If a retail store becomes smarter at identifying visitors as soon they approach, and from there has the ability to guide them to the right set of products, then surely it will create pressure on competitor stores to upgrade—or perish.

Invisible Tracck, a Brazilian location-services company, places sensors in trees in protected areas. These sensors send messages with GPS location to law enforcement as soon a tree is illegally cut or moved. IoT is directly contributing towards resisting Amazon rainforest deforestation. If other forest departments do not follow, they will start losing more trees.

If an air-conditioning system could intelligently track the weather and adjust accordingly, switch on and off when you are arriving or leaving home, take voice commands, and send operational data to its manufacturer for timely maintenance intervention, why would you buy any of the AC units currently on the market?

Many healthcare systems are rapidly migrating towards Remote Patient Monitoring (RPM) using Wireless Medical Sensor Network (WMSN) technology. This allows critical patients to maintain independence, while preventing complications and minimizing personal costs, by delivering care right to the home with IoT assisted living, which requires far less family intervention.

How are companies that use analytics best?

Marking the present – Genpact success stories
Genpact understands and envisions the need for, and future of, IoT in different industries. Padding up for that imminent future, Genpact's hi-tech consulting group, assisted by its Chief Science Office (CSO), is collaborating with industrial clients to solve some of their core business challenges, drive growth, and deliver impact. Here are few examples, especially in the Industrial IoT (IIoT) analytics domain:

Examples of the IIoT analytics domain

Since IoT and IoTA are evolving technologies, there will be lots to learn and adapt to in the future. That is the opportunity as well as the differentiator for Genpact's future endeavors.

Parting Note
The famous futurist Ray Kurzweil stated that "the twentieth century was like twenty years' worth of change at today's rate of change." He also predicted, "Once a computer achieves human intelligence, it will necessarily roar past it."

IoT Analytics is the new grazing ground for marketing analytics. The underlying power in the IoT value chain is in enhancing the "information value" from all the accumulated data. Data insights companies will have to play this immensely vital role: bringing out that final worth from all these IoT efforts. The real fruit of a planned IoTA setup!

Gradually building the necessary IoTA capabilities is the required preparation. As the saying goes, "Rome wasn't built in a day." Careful planning and execution will determine how well we meet the new-age, data-insight demands of the future. This is a huge jigsaw, and getting all the pieces together will decide our future position.

About the author

Souvik Das

Souvik Das

Senior Manager, Marketing Solutions and Research, Genpact Analytics

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