IoT or the Internet of Things has been instrumental in driving massive business transformation. But do you understand how to create a flexible IoT service strategy to keep pace with these changes and complexities in your technology business unit?
Global technology and IT leaders find it challenging to achieve the desired business outcome and gain support across multiple departments to increase IoT initiatives and solutions. Part of the challenge is that IoT service providers are targeting a moving goal line due to rapid changes in buyer preferences and technology.
To work on some of these challenges, an IoT strategy must be deployed to solve ongoing enterprise issues. As a result, the services that are associated with IoT must also keep evolving.
According to Gartner, it is estimated that the end-user spending for professional services will be approximately $400 billion by 2020. This clearly is an opportunity for IoT providers and businesses to work together to improve the go-to-market effectiveness of IoT services.
So how can you go about reinventing your IoT strategy? Here are a few key ways:
#1 Service providers must align the expectation of buyers by going for an agile approach in deploying an IoT strategy.
#2 Providers of IoT services must focus on business outcomes rather than technology alone. This will help enterprises to quickly move from the POC stage to the production stage.
#3 Disrupt the market chaos by providing services that address business challenges and help enterprises in simplifying their complex processes.
Aligning business outcomes with IoT solutions must be a priority when identifying and developing a solid IoT service offering portfolio. While it is by no means easy, IoT providers must focus on the technology that drives engagement and recognize changes and complexities amid new business models for end users.
If you want to know how your IoT strategy can be aligned with changing business dynamics, click the link below for more information.