From IoT-Data Driven Insights to Process Improvement
Analytics-driven insights will drive the opportunity for process change and optimization. In many cases, these insights will foster transformative rather than incremental changes in business and operational processes. For example, our survey respondents indicated that IoT has the potential to fully automate up to 50 percent of their existing manual operational processes.
The implications of this opportunity are difficult to overstate. In most cases, a company that automates 50 percent of its existing manual processes will look nothing like it does today.
Consider the following hypothetical scenarios:
- What if a transportation company could fully automate half of the driving of its trucks?
- What if a retailer could fully automate the customer experience for shoppers, including payments and delivery?
- What if a manufacturer could automate half of its current manual production processes?
While many organizations have not advanced as far as these examples on the IoT maturity curve, we are beginning to see process improvements of this magnitude. Amazon, for example, is currently employing scores of autonomous robots in its huge Seattle warehouse, which could help the online retail giant save as much as 40 percent on fulfillment costs.