Business Strategy and Innovation Framework
predictive analysis to model future conditions. This past-present-future analytics approach will increasingly become a priority and competitive advantage across all elements of a business.
In this accelerated and competitive environment, the ability to enhance and create new customer value becomes key. Within any product or service, whether a website, a smartphone app, or a heart monitor, or factory floor device, cost and functionality must balance with customer sentiment and experience. This creates a situation in which enterprises must constantly look for ways to adapt business and operational models in real time, and to modify and add value to their products, services and customer experiences. Enterprises need to continuously aim to differentiate their offerings in existing markets and identify untapped opportunities in new markets.
This new environment also provides a plethora of opportunities for startups and small businesses that will have the potential to integrate into the production domains of large companies in a more agile way.
3.1.2 SOCIETAL DRIVERS
While the perceived value of IIoT relates primarily to business and operational optimization, it also has the potential to influence and impact society in a profound and positive way, including:
� creating new jobs and job markets, � shortening time for and improving human and machine decisions, � generating environmental benefits and � producing benefits for public health, safety and quality of life.
The connected, collaborative world will lead to an almost innumerable range of connection points, applications, products, data sources, and software / integration needs. Due to growth in business startups and established enterprises, there will be an increased need for a skilled workforce to advance IIoT adoption. This will require the creation of new roles and skills to provide technical enablers and services for this new industry.
An equally impactful benefit will come from enhanced decision-making processes, integrating data from internal and external sources to enable more effective and timely decisions. For example, in the case of a hospital, the connection and integration of bedside medical devices alongside traditional hospital information systems and other patient-care data could have a profound impact on both immediate and longer-term patient-care decisions. Similar potential for societal benefits exists in other industries, particularly in the context of smart cities.
The use of IIoT and associated data in reporting, real-time analysis and predictive models will help improve local and global environmental conditions. This is especially true in scientific research and businesses directly focused on environmental resource utilization. Improvement may be seen using IIoT to help focus on more effective utilization and analysis of past, present and future conditions. These industries, as well as IIoT use cases directly related to public safety and health will enhance quality of life and experience.
IIC: PUB: B01: V1.0: PB: 20161115- 14-