10 useful insights from IoT leaders in the trenches
At Ericsson, we are fortunate enough to frequently work and speak with IoT leaders in the industry. We thrive on hearing what excites our partners most about IoT, what challenges they have faced and if we can help solve any, and what they think the future will look like in the industry. We realized that we should share these conversations and our "Talking IoT with Ericsson" podcast series was born.
Throughout recording the last 10 episodes of our IoT podcast, I’ve had the chance to chat with a range of IoT leaders. Executives from communications service providers, healthcare organizations, automotive technology companies and even pump suppliers.
While the insights we have gathered from these conversations are extensive, we compiled our favorite insights from each episode.
Focus on long-term success
IoT can grow faster than any traditional operator business. Ultimately, companies need to create profitable growth in order to keep investing in and realizing long-term success.
Digital transformation is a company effort
If you’re working through a digital transformation, remember that it is not a side business. Organizations must engage everyone in the company, not only the transformation team.
The three key questions
In order to create a strong user experience, you need to focus on the following three questions: First, what purpose will your IoT product serve? What does success for the business look like? Lastly, how do you achieve it?
Focus on the value, not the tech
At the end of the day, it’s not about the technology, it is about the value you’re providing customers. Create minimum viable applications to experiment and achieve success early on.
There is an endless amount of data available to companies but many are struggling to figure out what to do with the collected data. While there are good use cases available, many more companies can be monetizing their data.
Network with operators
IoT is completely different for operators. The technology is not regulated, it’s fragmented and it brings a new set of challenges. Operators need to connect with one another to achieve IoT success.
Design technology that supports day to day work
Companies can design all the technology they want but if they don’t create a strong human-machine interface, then the people expected to use it, won’t want to. Ultimately, the effort to provide technology to support people will fail.
Embrace augmented reality
Industry 4.0 is about enabling decision-making. Leveraging augmented reality (AR) helps lower the threshold for adopting technology. AR is intuitive and can help people learn to make better decisions and work faster.
Customer trust is crucial
Customers are going to judge the work you do for them based on the value you provide. In order to provide the best value, you need to build trust with your customers and fully understand their challenges.
Data can help operators climb the value chain
Secure connectivity is the base business that operators offer customers. However, operators have an opportunity to climb the IoT value chain and grow their business into different verticals by leveraging their data.
Interested in additional insights from the folks in the trenches? Please check out the full episodes of our “Talking IoT with Ericsson” podcast series, available on most podcast streaming platforms.