How IoT helps companies take advantage of new revenue streams

In this Q&A, Gartner analyst Eric Goodness explains how manufacturers create impact with connected devices. Connected products create new opportunities for manufacturing companies to bond themselves with their customers, says Gartner analyst, Eric Goodness. In a recent interview with DXJournal.co, Goodness talked about how the combination of IoT and manufacturing is helping manufacturing companies transform their processes and take advantage of new revenue streams. DXJ: What are three digital transformation trends you’ve seen in manufacturing? EG: The three digital trends that we’re seeing in manufacturing [include]: Looking at applying IoT to operations to drive out inefficiencies and to improve asset performance. Applying IoT to the supply chain, again, to drive out cost inefficiencies and to gain more visibility there, the biggest trend, without a doubt, and where most of the revenue that we’re seeing being spent — rather than languishing in cycles of indecision — is the creation of connected products.