Bain & Co: Is your company ready for the Internet of Things?

InsightaaS: Bain & Company is one of the world's leading management consulting firms, employed by senior executives at major corporations to help them to " make better decisions, convert those decisions to actions, and deliver the sustainable success they desire." This post provides an interesting example of how Bain approaches a complex issue with enormous future implications - here, IoT. Bain starts by defining the current environment, how it is changing, and how these changes impact supplier selection and IT investments. The authors then move on to describe how solutions are likely to evolve, and close by posing five questions that "will lead to rich discussions as senior executives plan their pervasive computing strategies." The net effect is a clear and concise statement of current positions and options that can (and should) inform strategic decisions regarding investment roadmaps and resource allocations.

Intelligent cars that drive and park themselves. Retail systems that watch where shoppers linger. Home thermostats that detect the owner’s arrival and turn up the heat. In some ways, the future is already here: each of these applications is already up and running, a part of the Internet of Things. What’s changing quickly is the universality of them, the integration and communication among systems like these to create a new paradigm of pervasive computing.

Which companies will provide the hardware, software and services that make these scenarios extensive and real? If the past is an indicator, they may not be the same companies providing them today. We see pervasive computing as a major architectural shift. As in previous shifts, we expect to see the leaderboard reshuffled. The winners in pervasive computing will develop high-value, repeatable solutions at the intersection of mobility, analytics and cloud computing, creating new sources of value from the explosion of data that surrounds us.

All of this activity will generate tremendous opportunity across many industries...

Read the entire post: http://www.bain.com/publications/articles/is-your-company-ready-for-the-internet-of-things.aspx

 

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