The next wave of the Internet is driving the most disruptive change in history. Powered by mobile devices and apps—collaboration technologies that seamlessly allow people to work across multiple video and mobile devices—people are using technology to share ideas and opinions, and to reach the people and resources they need at any given moment. For the young Millennials who have grown up with the Internet, life flows seamlessly between the physical and virtual worlds. For professionals and executives, the Rolodex file of old has transformed into an online network for real-time, multi-person, topic-focused collaboration, not just as individuals but also in their enterprises.
The Internet of Everything (IoE) is accelerating this trend, creating real business value through the networked connection of people, process, data, and things. Earlier this year, Cisco® research identified $14.4 trillion in Value at Stake for the private sector that will be created or migrated among companies in the IoE economy over the next decade. Collaboration, video, and mobility will contribute 55 percent of this value—or $7.9 trillion in private sector Value at Stake by 2022.
Large global organizations are using collaboration, video, and mobility technologies to reach across time zones and organizational borders to spur innovation, solve complex problems, accelerate business processes, and reduce travel costs. These companies are investing in collaboration solutions because they can see direct benefits to their business—both in growing their top-line revenues and reducing costs to improve profitability.
In a recent survey by Forbes, more than 90 percent of respondents at companies that lead in collaboration technology adoption said that pervasive and extensive collaboration generates profound or disruptive innovation and enables efficient business processes. More than three-quarters of respondents agreed that collaboration accelerates business results and creates a competitive advantage.
In my recent post, “The Internet of Everything’s Impact on Hospitality”, I discussed how the Internet of Everything (IoE) is currently transforming the hospitality industry to more effectively enhance the guest experience while ensuring operational efficiencies and sustainability for hoteliers.
As we continue to move into a new age of mobile and connected things, IoE presents a number of advantages for hoteliers, increasing business value as well as securing customer loyalty through enhanced guest experiences. Hotels that leverage IoE capabilities are made possible through technologies such as Wi-Fi-enabled RFID sensors and Bluetooth LE.
In my role as leader of the Analytics Practice for Cisco® Consulting Services, I often meet with clients who remind me of how the nature of consulting is changing. Traditionally, a consultant’s value and relevance to the customer has been derived from his or her business background and knowledge of specific industries or areas of expertise. The consultant comes in and takes a look at the client’s critical business issues, then makes top-down recommendations based on his or her specialized business experience.
This traditional model is being challenged by what I call “digital disruptors”—consultants whose credibility comes not just from their past experience, but from their ability to extract value and insight based on data that is gathered at the operational base of the organization: the network. This bottom-up approach is turning the consulting industry on its head—driven by data gathered on the network and turned into business insights by analytics.
Consider, for example, a major enterprise that has made a large investment in infrastructure for video collaboration. The company’s leaders want to see what kind of value they are getting back from their investment in order to evaluate further investment in collaboration. Cisco Consulting can help this customer not only because of our industry expertise, or even because of our knowledge of video collaboration technology—but because we can take an analytics-based, digital-disruption approach to the customer’s challenges. The key is our ability to tap into the video infrastructure itself, combine network and other types of data, and give the client a view of how the infrastructure is being utilized.
As my colleague Jim Grubb points out, the IoE itself is no longer a prediction in-and-of-itself. The joining of people, process, data and things to transform information into actions and create new capabilities, richer experiences and unprecedented opportunities is already a global reality. Just how IoE impacts our economies and industries —including what many believe to be an American Manufacturing Renaissance— is what remains for our collective imaginations, innovations and entrepreneurial ingenuity.
To gain some insights and guidance on manufacturing movements, I turn to industry analyst expertise. Bob Parker, IDC Group Vice President, last week hosted the IDC Manufacturing Insights 2014 Predictions: Worldwide Manufacturing, one in a series of annual web conferences where IDC analysts share their industry outlook for the upcoming year in the form of a Top 10 Predictions. Below, I provide a recap of what Bob and his team had to say about global IT investment trends and business initiatives relating to key process areas within manufacturing, along with my contentions around the impact of IoE on the manufacturing economy and why I believe we will see a growth inflection in the industry next year. Read More »
One thing the IoT World Forum reinforced was the need for collaboration across the industry. No one company will represent the Internet of Things. I also saw a lot of passion. Everyone there was excited and ready to help create a more connected world. This is why I’m excited to announce open nominations for a new program here at Cisco: Cisco Champions for Internet of Things!
Are you passionate about the Internet of Things and Cisco technology? Do you love sharing your knowledge? Do you want unique access to Cisco experts? Today is your lucky day. From now through January 10, 2014, nominate yourself, a friend, a mentor, or a luminary in the community for inclusion in this program.
Submit your nomination today to firstname.lastname@example.org! Be sure to include “IoT” or “Internet of Things” in your nomination, so it will be routed correctly. All Cisco Champions for Internet of Things will be selected and alerted no later than January 17, 2014.