Phy-gital Roundtable: Breakfast Roundup from Germany and Netherlands

02 May '15 | Debjyoti Paul

German Shoppers: Meet Them in the Fast Lane to Phy-gital

15 January '15 | Ralf Reich

Shoppers Will Share Personal Information (But They Don’t Want to be “Friends”)

15 January '15 | Anil Venkat

Modernize or Perish: Property and Casualty Insurers and IT Solutions

14 January '15 | Manesh Rajendran

Benelux Reaches the Phy-gital Tipping Point: Omnichannel Readiness is Crucial

13 January '15 | Anil Gandharve

The New Omnichannel Dynamic: Finding Core Principles Across Industries

13 January '15 | Debjyoti Paul

Technology does not disrupt business – CIO day 2014 Roundup

02 December '14 | Anshuman Singh

Apple Pay – The Best Is Yet To Come

02 December '14 | Indy Sawhney

Digital transformation is a business transformation enabled by technology

01 December '14 | Amit Varma

3 Stages of FATCA Testing and Quality Assurance

06 October '14 | Raman Suprajarama

3 Reasons why Apple Pay could dominate the payments space

18 September '14 | Gaurav Johri

Beacon of Hope: Serving Growth and Customer Satisfaction

05 August '14 | Debjyoti Paul

The Dos and Don’ts of Emerging Technologies Like iBeacon

30 July '14 | Debjyoti Paul

What You Sold Us On – eCommerce Award Finalist Selections

17 July '14 | Anshuman Singh

3 Steps to Getting Started with Microsoft Azure Cloud Services

04 June '14 | Koushik Ramani

8 Steps to Building a Successful Self Service Portal

03 June '14 | Giridhar LV

Innovation outsourced – a myth or a mirage or a truth staring at us?

13 January '14 | Ramesh Hosahalli

What does a mobile user want?

03 January '14 | Gopikrishna Aravindan

Getting on top of the internet of things

Posted on: 20 February '14

When we think of IoT (the Internet of Things), addressing a myriad of security and privacy aspects first comes to mind. These are important issues no doubt, and have been promoted widely as was appropriate. But the real risk to businesses in my view is to fail to devise the right strategy to get on top of this trend.

The Internet of Things is not a technical trend. It’s not a fad either.It’s been happening for several years and we see it around us everywhere. We are just catching the wave now. It’s very corporate in the form of logistics and RFID, and it’s also deeply personal in the form of the Nike FuelBand.

That tells us that this notion of the expanded internet is also ultimately about your strategy for customer engagement and experience. Tying in demand with supply has been a long standing challenge. And a meaningful, contextual, local interaction with our customers has been an even bigger challenge. Connected devices are changing that. We can finally move beyond mass applications to tailored applications.

But we have to be ready.

And that’s the risk that should really be on the center of our radar. Thinking of individual use cases is one way to meet this trend. Stealing from Marc Benioff’s latest demo for the power of Salesforce 1 in NYC – I was there so I think I’m entitled – how can we enable the tooth brush to communicate with the dentist is what I think a “direct” use case. That’s obviously the first frontier when we think of connected devices.We think about us, our products and our customers. The next frontier is to begin to create an ecosystem of consumers, partners and also channels. Can Marc Benioff’s Phillips toothbrush help his local Costco store plan inventory and store promotions? Can Philips begin to plan for retention as Marc changes his toothbrush? And how does it change the laws of commerce when it comes to MY data. I’m already used to so many freebies today in return for my privacy and data (Facebook, Pinterest, G+ etc). Am I, the consumer, going to become wiser and ask for perhaps a free toothbrush every 3 months? Or is Colgate going to spoil me to bolster its own competitive situation?

The ecosystems will emerge over the years and the biggest risk is in not looking at it with a wide angle lens. Privacy, preferences and security will play themselves out. They have to, because those who don’t play by the rules will lose the race for customer trust and will be shut out of the data privileges for a long time. The capabilities we need to think of right now are Integrated Customer Insights and Omni Channel Service Orchestration.

I’ve witnessed so many iconic brands simply disappear over the past 7 years, so I’m going to risk using some hugely clichéd adjectives to describe the response to this significant strategic risk – vision, agility and evolution backed by Integrated Insights and Omni Channel Service Orchestration.

Mindtree Blog Archives

Mindtree blog Archives are a collection of blogs by various authors who have independently contributed as thought leaders in the past. We may or may not be in a position to get the authors to respond to your comments.