In the ongoing digital age, in a way every organization is in some way or the other involved with technology. The Internet of Things (IoT) has there emerged as a key differentiator especially in transforming B2B competition. The five most valuable publicly listed companies in the US- Facebook, Amazon, Alphabet, Apple and Microsoft- are all leaders in IoT and the related big data whose potential they are on the verge of exploiting. They are the orchestrators who have emerged victorious in this winner-takes-all culture of the digital age. Such orchestrators exploit three factors, beginning with quick upscaling. They also do enormous quantities of data warehousing which they use to gauge useful business insights and take decisions accordingly. They are also able to satisfy multiple requirements that customers or B2B clients tend to have. The monetization of this IoT can be divided into four stages, beginning with putting all the digital capabilities in place. This has to be followed up by putting together an internal data monetization system. External data monetization will follow. The last stage may be termed as the data ecosystem orchestration where it all comes together.

Source:https://www.bcg.com/en-us/publications/2018/how-internet-of-things-iot-data-ecosystems-transform-b2b-competition.aspx

Uploaded Date:11 September 2018