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M2M Europe Expo and Conference
Business Case Workshop: Four Strategies for the Age of Smart Devices
Drawing from a recently published paper authored by Harbor Research in the Harvard Business Review, this unique workshop track held exclusively on Tuesday of the M2M conference will outline new business opportunities that emerge once remote device monitoring and management have been deployed.
These opportunities transcend the traditional notion of a device and its role in the enterprise to encompass entirely new ways of doing business.
The Pervasive Internet is unleashing an age of “living intelligence” enabled by networked devices creating significant new opportunities for organic growth in businesses. These new business opportunities are quite different from traditional product development roles. Harbor Research has identified four major business models for pervasive and machine-to-machine opportunities: the Embedded Innovator, the Synergist, the Aggregator, and the Solutionist. Knowing which business model to use and how to use it will be important for sustaining a competitive market position. Companies that can master these skills in the near-term will be strategically positioned for growth.
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Read more about this special workshop track below
CLEAR FIRST-MOVER ADVANTAGES FOR ADOPTERS
Some companies have already launched new businesses enabled by networked devices, and many others have made their decisions and started the process of designing their connected products and their new business models. The move to the Pervasive Internet is happening, and the pace of adoption is accelerating. It is not only possible, it is here.
We have seen evidence of first-mover advantages in industrial asset management, vehicle telematics, industrial gases, networked building systems, energy monitoring, and medical imaging systems. Early adopters have not only brought their connected offerings to market, but may already have locked down lasting dominant positions in their respective industries. The following are only the most obvious impacts:
Break-out “double digit” top line growth in traditionally GDP-driven businesses.
Line-of-business ROS increases in the 5-10% range.
Service force productivity improvements of 20-35%
Dramatic, quantifiable customer retention improvements.
At the same time, technology suppliers have ensured that the tools for device connectivity are largely in place. Except in the least developed parts of the world, where there may still be infrastructure issues, there is no place on earth where a connected product cannot be deployed to the advantage of both its manufacturer and its users.
THE BIG RISK IS DELAYED ACTION, NOT TECHNOLOGY
Yet many companies will fail to make the shift. Is it because the technology is immature and not to be trusted? In some areas of the technology value chain, the pieces may not be mature. Certainly, it will be some time before the losing suppliers have been shaken out and the remaining winners can be counted on to supply the quality products and complete services required to minimize risk for adopters. Yet even today, robust systems can be—and are being—built with existing offerings, and what remains of technological risk pales next to the risk of delayed action.
The key word is risk. The leadership in many manufacturing companies is not accustomed to the volatile, high-stakes world of business driven by networked devices, and it is this transition, not the technological shift, that many will fail to make. Many changes in thinking will have to take place for companies to succeed in networking their devices and updating their organizations for the next era of information technology.
These changes come in many areas:
In internal leadership -- we have already seen and expect to see more cases where many members of organizations have a clear view of where the company needs to go, yet are unable to present the business case for change in a compelling manner.
In planning -- companies may not know whom to invite to the planning table, let alone what to do when everybody’s there. They may have strategic planning processes in place that are ill-equipped to deal with major paradigm shifts.
In business execution -- manufacturers may have little understanding of the nature of a new, information-intensive offering, or of the needs of a market that will be trained by the companies that have made the shift successfully. Such customers will be far more demanding than in the past
In organization -- companies may fail to understand that the new skills, shifting alliances, and new customer bases that can come with the Pervasive Internet may demand radically new organizational structures.
What is the M2M Expo and Conference?
Designed for senior executives, product managers and
engineering managers, the M2M Expo and Conference is a comprehensive two-day
event covering topics relevant to the business changes occurring as a result of
M2M, presented by industry leaders and top analysts, prefaced with a one-day
pre-conference session dedicated to the building blocks of M2M applications. The
expo and evening networking events provide a showcase for M2M enabling
technologies and offer a significant amount of time for networking where
attendees can discuss experiences in varying business sectors, discover the
latest products and solutions, and explore application strategies with those who
have first-hand experience. Find out more at
www.m2mexpo.com 8-10 November 2005
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