English | EN Secure Your Piece of the PIE: of All the Trillions that Pervasive Interaction Engine IoT Will Bring
Jun 4, 2014
A main destination of Pervasive Computing is the Customer Experience (upper left), brought about by Innovation, Asset Utilization, Employee Productivity, and Supply Chain & Logistics. That’s the way SogetiLabs colleague Rick Bouter and I read the above pie chart.
PIE: Pervasive Interaction Engine
Over time and along the road, it has become possible for customers to decide their favourites, their moments, their devices, and so on: from one single channel via multiple channels to even cross- and omni-channel experiences. Today, the emerging Internet of Things is starting to develop as a Pervasive Interaction Engine. Of course, every business wants its piece of that PIE.
The 3.88 trillion dollar pie above is a projection for manufacturers. It’s 27% of the 14.4 trillion dollar total at stake from the Internet of Things by 2022. The rest will go to finance & insurance (9%), information services (9%), retail trade (11%), and other industries (44%). It’s this 44% that puzzles us most, and by trying to imagine how the Internet of Things will evolve, we reached this conclusion:
“Every Business will become a ‘manufacturer’ in its own right thanks to the emerging IoT”
Digital Things and services will act as a Pervasive Interaction Engine to support existing Customer Interaction Channels and generate numerous new ones. Strongly supportive of this analysis is the following breakdown by PTC-owned ThingWorx, we extracted from their e-book on smart, connected things for manufacturers:
We simply call this the business of Caring for People: the all-encompassing practice of actively designing Customer Experiences and reaping the fruits of Customer Intimacy. The reason being that these observations of course aren’t unique to manufacturers, just like the categories in the 3.88 trillion dollar pie chart above.
Every Business Will Be a Cyber-Physical Tinkering Shop
Undoubtedly, actively designing a unique Customer Experience is the main driver of any business model. Consequently, your main concern as a business leader is: How much time and effort are you spending in terms of Product Leadership AND Operational Excellence AND Customer Intimacy? Some 20 years ago, you perhaps still could choose between the three, but now it is Customer Experience prime time, so you have to target Michael Treacy and Fred Wiersema’s Golden Triangle as a whole, and full-force.
In our article Your Internet of Things Tinkering Kit: 10 Necessary Tools & Tips we argued that every business over the next decade will become a 21st century “manufacturer” in its own right: a Cyber-Physical Tinkering Shop. This will be based on the marriage of IT, OT, and IoT in many forms: of Information Technology, of Operational Tech, and the Internet of Things. Here is how we picture “Things to Come:”
So, come on and ignite your potential to secure your piece of the pie by integrating IT, OT, and IoT to target hitherto unthinkable Customer Experiences:
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