This introductory course is developed for high level business people (and those on their way) who want a broad understanding of new Information Technologies and understand their potential for business functions (e.g. marketing, supply change management, finance). This is not a course for people looking for guidance on how to become a deep technical expert or implement these technologies. From Blockchain over Artificial Intelligence to Virtual Reality technologies: This course will empower business leaders to embrace the concepts and bring the state of the art information technologies into their organizations to improve client and customer engagement and ultimately the bottom line of their businesses. Instead of digital disruption, the new technologies and management methods will become the foundation of a Digital Transformation journey for better customer relationship management and client satisfaction. The content is structured in a way that promotes discussions on challenges that business management and marketing functions face due to the rise of new technologies such blockchain, cryptocurrencies, internet of things (IoT), virtual, mixed and augmented reality (VR/AR), artificial intelligence (AI) and big data. This course will use case studies to explore frameworks, tools, and strategies that are already proven in the real world and prepare ourselves and our organizations to have the tools needed to succeed in a fast and changing world. This course is not a deep technical curriculum, but based on thousands of hours helping (often C-level) executives to grasp the technologies' potential in their own areas of expertise. This course is available in English.
The monetary and competitive opportunity of “The Internet of Things”
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Del curso dictado por Rutgers the State University of New Jersey
New Technologies for Business Leaders
58 calificaciones
De la lección
INTERNET OF THINGS
This module introduces fundamental concepts, terms and technologies behind Internet of Things and how they are being used to improve business processes and specifically marketing and customer retention. We will demonstrate different applications and products that are leading the market and how marketers can think about this technology as an opportunity to attract and retain customers. The customer journey model will be introduced and used for the IoT scenario as a general tool for leading a digital transformation.
Conoce a los instructores
Mark Mueller-Eberstein, Dipl. Kfm.Instructor of Professional Practice - Faculty
Rutgers Business School
We have learned what the industrial Internet of Things and consumer focused IoT are.
And we'll in this lesson look at why and how
organizations are using the technology in their environment.
It is important to understand
the technology impact on the overall organizational processes,
especially as they can impact how customer oriented,
these functions can become through the internet of things.
You will become familiar with reference stories and case studies on how
the technologies are applied in industrial and consumer environments,
their business impact and how to reference them in your environments.
Like with any other transformational technology before,
the more we learn and apply the technologies
the opportunities for IoT really appear endless.
We will see areas of business impact for customer engagement.
We will see the increased process efficiencies through the whole customer journey.
We're seeing best on our customer data and insights for the learning organization.
With IoT many organizations deliver
better customer experiences and deeper engagement with their clients.
And therefore generate new revenue streams and innovative customer interactions.
Why is IoT taking off now?
PWC identified really six key synergetic trends.
One is a decrease in hardware cost itself, with processing power,
memory and storage prices going down,
we will have more and more technology available for us at a cheaper cost.
Now combining the convergence of I.T with operational technologies really changes
how companies think about the business processes and having all this data now,
combining it with big data analytics, cloud computing capabilities,
allows organizations to make much more sense out of
the data and turn it into customer engagement environments.
More and more devices now are out in our life.
So, we call it increased device proliferation.
And it's probably not going to get slowed down but only increasing.
Networking costs have decreased
tremendously over the last decade and likely will keep decreasing.
So it's much easier for the devices to stay always on, always connected.
And the business opportunity of IoT as we mentioned earlier,
of course raises the willingness to invest both from global companies,
as well as venture capitalists and agents into
this new space and bringing technologies and business models to the market.
IoT is really transforming the processes in many industries today.
From the manufacturing industry,
to how governments think about smart cities,
transportation, how we shop in retail and even our
healthcare environment can and will be impacted by the Internet of Things.
One of the processes across industries is the supply chain.
The Internet of Things presents
an unprecedented opportunity to digitally enable the supply chain and
to create solutions that combine
digital and physical products and services across industries,
as diverse as the food industry,
electronics and even energy.
Given the diverse inherent in these and other supply chains,
the impact of IoT on their operations inevitably will vary.
In one example, IDC predicts that by the end of 2018,
digitally connected processes will drive
a 15% productivity improvement for the manufacturing supply chains.
So the manufacturing industry spends heavily in IoT.
They are focusing on manufacturing operations,
production assets and management and maintenance and of course in field service.
Investing hundreds of billions of dollars to
optimize their processes and taking advantage of these productivity improvements.
The recent study on the state of the market in the Internet of Things,
predicted 70 per 6% of early movers in
manufacturing say that IoT is
increasing insights into customer preferences and behaviors.
66% of early movers uses IoT to measure risks,
protect company assets and improve their staff safety.
And 60% of early movers are improving the reliability and all performance of
their products and services with IoT providing better experiences to their customers.
How does this look like? Let's look at the example of Rolls-Royce,
the big airplane engine manufacturer.
They collaborated with Microsoft to create
new digital capabilities for themselves and their customers.
So Rolls-Royce has more than 13,000
engines for commercial aircraft in service around the world today.
On the other end worldwide flight delays and disruptions cost the
airline industry millions of dollars every year as well.
One of the biggest cost drivers is fuel.
It's 40% of an airline operating expenses and
each engine that burns the fuel has many sensors and generates thousands of signals.
Now bringing the Internet of Things technology,
collecting and aggregating data from disparate geographic distributed sources,
combining it with artificial intelligence not to analyze
this rich set of data across 30,000 engines and perform data
modeling at scale to accurately detect operational anonymous
that will result with tremendous result and impact for the business.
It helps airlines to optimize their maintenance costs,
reduce downtime and increase their fuel efficiency,
it has a direct bottom line impact for them and hopefully for the people on the planes.
IoT is transforming consumer experiences and complete new business process.
Enterprise research planning is impacted by
IoT by having more efficient inventory management.
Big accuracy, reduce spoilage or false peak order in all kinds of industries.
We can use IoT to monitor the customer location and track where our products are,
where our customers are and optimize bringing them together.
IoT is transforming customer service with a lot of
brands are now connecting communicating devices that
help consumer facing professionals in fields including marketing,
support, sales and product achieve their goals.
IoT directly implements and drives marketing goals like brand awareness,
customer insight, contextual relevance,
customer satisfaction, product efficiency, customer loyalty,
company innovation, and conversions from interested parties to actual consumers.
How does this look like for our consumer?
Let's look at our homes.
Home automatization has one of the key drivers in the consumer space for
the Internet of Things.
A key driver for the home,
let's look at Amazon's Alexa,
your new best friend.
It's combining the Internet of Things with artificial intelligence.
Amazon's Alexa is an intelligent virtual personal assistant
capable of voice interaction and can become a whole automation hub,
with control over other smart devices.
Alexa can play your favorite music on
your smartphone or your speaker and listening to your appointments of the day.
Alexa helps you to check your bank balance,
apply from your services,
go shopping or transfer funds without having to call your bank,
contact or go to a website or an app,
just by using the voice.
The information you request via voice interaction,
is sent to a designated connected device,
such as a mobile tablet wearable by your speaker,
and these are enabled by
the virtual assistant authenticating the users with the bank database
and enabling self-service on the user's behalf
and delivering the information on approved bio metric devices.
What about moving?
Let's think about cars.
Volvo, from Sweden, has really created a connected cars utilizing IoT for quite a while.
They call it the connected vehicle cloud, the connected Volvo.
In 2012, they launched a smart app that
allowing users to remotely access the car's dashboard,
seek emergency assistance, check door lock status,
fuel levels and even maintenance warnings.
Besides allowing Volvo to offer proactive maintenance support,
it also generates automatic collision and theft alerts and provides help to them.
The ultimate IoT product though,
might be a car as well from Tesla.
Let's have a look at this company that probably most of you have heard about.
The Tesla is really an IoT car, an IoT device.
It's connected to the Internet.
The Tesla has a persistent cell connection to the Internet.
It also has Wi-Fi,
Bluetooth and garage door openers built in.
It has a 17 inch touchscreen and an app framework where a lot of applications can be
simply loaded to the car itself and provide additional services.
It really creates a new business model.
The Tesla is a fully functional car with
extraordinary performance and constantly ranked as one of
the the best and safest auto-mobility cars.
But it also is a completely connected device, ongoing updated,
ongoing in touch with their customers for services and experiences.
Business Impact? Well, in March 2017,
Tesla exceeded the total shipment of over 200,000 sales.
In the high end market of the U.S car environment,
it impacted BMW Mercedes causing then reports,
due to report declining sales for their top of the line luxury sedans.
So we can see IoT is changing our lives.
It's making our day to day experience at
home and in the workplace safer and more comfortable.
And we're seeing more and more consumer focused IoT implementations in our environments.
For us marketers, the presence of sensors nearly everywhere.
The amount of data connected and available is
changing what we know about our products and our customers.
And it's changing want our customers expect from us and our products and services.
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