Retailers are increasingly leveraging the power of the Internet of Everything (IoE) to transform traditional brick-and-mortar stores into a high-octane digital experience.
From advanced data analytics that monitor customer demand in real-time to pervasive video and cloud technologies that enable shelves to sense, customers and retailers are becoming closer than ever before.
However, there is much room for progress. Long lines remain a pain point for shoppers. Read More »
Tags: Cisco, Internet of Everything, internet of things, IoE, IoT, Last Check Out Line, Lisa Fretwell, retail
It’s safe to say the Internet of Everything (connecting people, processes, data and things) is impacting nearly every aspect of our lives.
When we wake up in the morning, we can check our smartphones for weather updates and use that data to decide if we need to wear an extra jacket or bring an umbrella. In some cities, sensor-based parking spaces can allow us to check a smart parking app to determine where to park our cars and how much it will cost to park in a certain space.
But the Internet of Everything (IoE) does not just impact our morning routines or where we park our cars – it also is transforming healthcare and is reshaping the patient experience. IoE for healthcare is all about better health outcomes, increased productivity, and more patient choice that drives an enhanced patient experience. Read More »
Tags: healthcare, Internet of Everything, internet of things, IoE, IoT, Tapan Mehta, telehealth, telemedicine
In years past, a visit to the neighborhood bank branch often featured face-to-face meetings with a trusted advisor who would guide customers through their most challenging financial journeys — often over a cup of coffee. Today, many banks have ceded that privileged position of trusted advisor. While banks have made great strides in using technology to cut costs and streamline transactions, customer experience and engagement have suffered.
In a Cisco survey of 7,200 bank customers in 12 countries, 43 percent of customers said their primary bank does not understand their individual needs. As a result, many respondents feel that their choice is between bad financial advice or no advice all. Moreover, nearly one in four bank customers intend to choose another provider for their next financial product or service. Increasingly, that provider could be a non-bank such as Apple, PayPal, or a retailer. Four out of five customers would trust a non-bank to handle their banking needs.
Clearly, the perceived value that customers receive from banks is declining, along with their trust in banks to represent their interests. Banks are seen as commoditized — and replaceable — providers of transactions. Meanwhile, in the wake of the financial crisis of 2007-2008 and some well-publicized banking scandals, banks’ “trusted advisor” status has suffered. Moreover, it is easier than ever to switch to a non-bank that customers believe has a better understanding of their needs.
Read More »
Tags: analytics, banking, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE, IoT
Today’s banking consumers are used to experiences that reflect their likes, dislikes, past histories, and even their future plans. But not always from their banks. These kinds of interactions are more common when buying an online book, streaming a movie, or planning a vacation. Despite numerous omnichannel initiatives, many banks continue to lag in providing contextual, relevant, and convenient experiences to their customers. And while many customers yearn for personalized financial guidance, a Cisco survey of 7,200 smartphone users and bank customers in 12 countries found that for too many bank customers, the choice is between no advice, or what they perceive to be generic advice delivered inconveniently.
As a result, bank customers often try to attain their most important financial goals on their own, via “friends” on social media, or from non-traditional providers of financial services. Moreover, since the financial crisis of 2007-2008, banks’ brand equity has fallen. Read More »
Tags: analytics, banking, CCS, Cisco, Cisco Consulting Services, data, digital, Financial Services, hyper-relevance, innovation, Internet of Everything, internet of things, IoE
IoT, The Oppressed Project
We are now in the era of IoT “Internet of Things”. It’s a concept that not only has the potential to impact how we live but also how we work. And as things become more connected, people become more concerned about their security and privacy. I have gone through a lot of technical conversation about IoT and realized how paranoid people are about their connected devices and appliances.
The future Internet will be an IPv6 network interconnecting traditional computers and a large number of smart objects or networks such as Wireless Sensor Networks (WSNs). By 2020 there will be over 26 Billion connected devices and some estimate this number to be more than 100 Billion connected devices. This includes mobile phones, Smart TVs, washing machines, wearable devices, Microwave, Fridges, headphones, door locks, garage door openers, scales, home alarms, hubs for multiple devices, remote power outlets and almost anything else you can think of like your car and airplane jet engines.
Ways of securing the traditional Internet networks have been established and tested. The IoT is a hybrid network of the Internet and resource-constrained networks, and it is, therefore, reasonable to explore the options of using security mechanisms standardized for the Internet in the IoT.
What will we do about managing the usernames and passwords of every single connected device? What about our privacy? What if some hacker was able to control our video cameras? More and more questions are being asked and more security concerns are being escalated. Do we really have to be paranoid about IoT? Read More »
Tags: #ciscochampion, internet of things, IoT, privacy, security