IoT is easily misunderstood. Business leaders turn off when the technology industry begins to spout technical jargon. But IoT is not about technology. At its core, IoT is about data and insight. It gives consumer companies the power to understand their supply chains in detail and to work with partners to innovate and respond rapidly to unexpected events or emerging trends. It offers companies the ability to see how people are using their stores, online services, and even their products, in the context of their daily lives. By combining these insights, companies can win consumers’ attention and continual engagement. They can build services and products that synchronise with consumers’ lives making their presence vital and their brand valuable. That is the opportunity being offered– for those willing to take it.
Read Forrester’s report on the growing importance of the CMO–CHRO relationship.