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How to make IoT in business work for you

November 04, 2019 / JENS ERLER

Business transformation is about a mindset and affects how we perceive and understand the ecosystem surrounding the business. Within the Internet of Things (IoT), the mass deployment of sensors and high-resolution data enables new business models for industries that have been primarily driven by physical products. It creates tremendous pressure to transform! IoT cellular connectivity offers many market opportunities when high-resolution data insights and measured customer value are combined. It enables new monetization concepts, which are the heart of business models.  IoT platforms have a key role as an enabler to design and implement new, potentially disruptive business models. The advancement and orchestration of the business ecosystem should leverage those platforms to co-create customer value. During Ericsson’s IoT Day Stockholm this past September, we heard interesting examples of business model innovation in motion and the hard work required to move ahead.