IoT GUIDE

Organizations today are under tremendous pressure from management and customers to deliver a higher quality of products and services at lower costs, and to do so using existing resources. Any expenditure companies do make to help them achieve this goal is expected to deliver a measurable, hard-dollar ROI – and to deliver it quickly. For product manufacturers in particular, ROI has traditionally translated to “reduce costs.” However, cost is just one piece of the ROI equation. Today’s market leaders understand that ROI is multidimensional and that, in many cases, the cost-savings component can be secondary to other returns, such as improving customer satisfaction, brand differentiation, and the collection of accurate data, all of which can also drive increased revenues. As companies do everything they can to retain and expand relationships with existing customers – their most valuable assets – new business models and value-added services are coming to the forefront, and bringing with them significant new opportunities for the enterprise. Machine-to-machine (M2M) technology and the Internet of Things (IoT) is creating new opportunities for companies to enhance their services, gain business insights, improve business processes, and differentiate their offerings. In fact, connecting machines is bringing companies closer to their customers while delivering real ROI and payback.

In this white paper, ThingWorx presents examples of IoT value propositions and defines an ROI model for building a business case and tracking results related to IoT initiatives. This paper uses real-world customer results and a set of key metrics to help executives and managers understand the return they should expect when investing in IoT.

You can find and download the original report here.