How to Use the IoT to Boost Business Revenue

How to Use the IoT to Boost Business Revenue

How to Use the IoT to Boost Business RevenueHow to Use the IoT to Boost Business Revenue

Early Internet if things leaders are more likely to digitally reimagine their businesses and produce substantial value for customers, not just value for themselves.

Next Big ThingNext Big Thing

79% of surveyed global execs said their companies have Internet of things (IoT) initiatives in place today.

Immediate ROIImmediate ROI

The average company increased revenues by 16% last year in business areas with IoT initiatives, and nearly one out of 10 global execs attributed a revenue rise of more than 30% to IoT efforts.

Useful Tool: Extended OutreachUseful Tool: Extended Outreach

47% said their company uses IoT tech to track customers through mobile apps.

Useful Tool: Watchful EyeUseful Tool: Watchful Eye

45% said their company deploys IoT tech to monitor production and distribution operations.

Useful Tool: Quality ControlUseful Tool: Quality Control

25% said their organizations take advantage of IoT to receive data from products to get a sense of how those products are performing, and the same percentage use it to monitor locations of stores, branches and offices.

Actionable Information, Part IActionable Information, Part I

40% said their companies will improve their product support and repair services through IoT because product usage by customers will be monitored.

Actionable Information, Part IIActionable Information, Part II

29% said their organizations now will drive additional revenues by selling customer product usage data to third parties.

Cutting Out the Middle ManCutting Out the Middle Man

23% said their companies will use IoT to bypass entities in the distribution channel to reach customers directly.

Dennis McCafferty
Dennis McCafferty
Dennis McCafferty is a contributor to CIO Insight. He covers topics such as IT leadership, IT strategy, collaboration, and IT for businesses.

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