With more than $1.46 trillion projected to be spent on The Internet of Things (IoT) in year 2020, no other technology trend will more dramatically impact the near future, but how can businesses prepare for this revolution now? In Building the Internet of Things: ImplementNew Business Models, Disrupt Competitors, and Transform Your Industry (Wiley Hardcover / November 21, 2016), Maciej Kranz, VP of Cisco’s Strategic Innovations Group and one of the earliest pioneers of IoT who helped name it, transforms hype into reality and shows any busines show to implement IoT in the here and now for immediate profits and efficiencies.
Kranz, who already has 25 years of experience connecting everything to everything (including over 10 years in Internet of Things) under his belt, maps a scalable plan for any size company to begin implementing (or improving upon) an IoT strategy that will deliver instantand major results. He’ll explain which industry sectors will get the highest returns on IoT investments, which IoT initiatives will bring companies the fastest and biggest paybacks, how much such initiatives will cost and how much money they’ll save companies, and which mistakes and challenges most commonly trip them up.
Imagine the increases in productivity and efficiency if in real-time you could connect your company’s production lines with suppliers with logistics with operations with transportation.That technology is available now and might already be helping your competitors convergeinformational technology with operational technology for improved communication andefficiency.
Numerous companies featured in this book are significantly streamlining their operations with IoT solutions and are transforming their industries with IoT technology. In fact, according to Kranz, IoT is responsible for today’s remarkable resurgence of the North American manufacturing industry.
One manufacturer in the book, Harley-Davidson, increased the productivity of one of its plantsby eighty percent; reduced its build-to-order cycle from 18 months to two weeks; and saw anoverall profitability increase between 3-4 percent. Needless to say, the whole company became a fast adaptor of IoT practices shortly thereafter, spread them throughout their organization, and never looked back.
Also a case study in the book, Ford Motor Company uses IoT technology to connect communications among its vehicle plants to its enterprise network and to manage production in real time.
PepsiCo leveraged IoT technology to improve the reliability of its plant manufacturing systems, reduce both downtime and support costs, and enable remote monitoring by its support staff to address technical challenges quickly.
Kranz describes how similar gains are being achieved across agriculture, city planning, education, healthcare, retail, sports and entertainment, and the military. McKinsey & Co. projects that the first nine impacted industry segments of IoT will expand as follows:
- Vehicles: autonomous vehicles and condition-based maintenance (with an estimated value of $210 to $740 billion)
- Cities: public health, energy saving, and transportation & logistics ($930 billion to $1.7 trillion)
- Outside: logistics and navigation ($560 billion to $850 billion)
- Human: health and fitness ($170 billion to $1.6 trillion)
- Worksites: operations optimization and health & safety ($160 billion to $930 billion)
- Retail environments: automated checkout ($410 billion to $1.2 trillion)
- Factories: operations and equipment optimization ($1.2 billion to $3.7 trillion)
- Offices: security and energy ($70 billion to $150 billion)
- Home: chore automation and security ($200 billion to $350 billion)
Whether your business is in one of these segments or any other, Building the Internet of Things, Kranz presents a first-hand analysis of proven strategies for transforming yourorganization with IoT including:
- IoT adoption strategies
- Building an IoT cost justification
- Fast payback IoT models for leaders who want to immediately implement IoT (Connected operations, remote operation, predictive analytics and preventive maintenance)
- How IoT will impact careers and workplace roles
- IoT security challenges and how theyre being addressed
Not just for large organizations, Kranz explains why smaller organizations should also begin embarking on their own IoT journeys; especially since most are already taking advantage of its key components: cloud computing, IP networking, and analytics. As he writes, Will this economic tidal wave hit your industry? Without a doubt. It will hit every industry and everysegment sooner or later.
Written by one of the most knowledgeable experts in the field, Building the Internet of Things is the most up to date guide to where IoT is going and how it will play a role in thefuture of your organization.
About the author:
Maciej Kranz, vice president, Strategic Innovations Group, at Cisco brings 30 years of networking industry experience to his position. He leads the group focused on incubating new businesses, accelerating internal innovation, and driving co-innovation with customers and startups through a global network of Cisco Innovation Centers.
Prior to this role, Kranz was general manager of the ConnectedIndustries Group at Cisco, a business unit focused on the Internet ofThings. He built a $250M business from the ground up in 18 months andrelentlessly evangelized the IoT opportunity