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Oct 31, 2018
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Are there any opportunities to generate revenue from the data that IoT devices are generating?

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posted Mar 23, 2018 by Meghana K S

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You’ve actually amassed a great deal of data and that data in aggregate can be very valuable and you can start to look at data as services offering. So, for example, if you are in farming equipment, you might look at a connected products strategy that says I’m going to take the data from the farming equipment, I’m going to take all this information about soil, I’m going to take information about yield, and I’m going to put that all together and that delivers a piece of insight. That insight can help farmers understand how to have better yield with their crops. That is valuable insight and that is insight that people will pay for. That is the goal of taking the IoT data and perhaps integrating some of that third party data that might have been weather, soil conditions in specific areas. Pulling all that together and saying “OK, I’ve now analyzed this, I have some insight about how you can have better performance in your business” and that’s a data as a service offering.

answer Mar 26, 2018 by Rashmi V