Collaboration, Video and Mobility Drive Value in the Internet of Everything Economy
In the Internet of Everything (IoE) economy, there will be leaders and laggards, winners and losers. And collaboration, video, and mobility technologies will play a crucial role in determining who captures their share of the value at stake, which Cisco projects as a staggering $14.4 trillion. That’s equivalent to a 21 percent increase in corporate profits over the next ten years.
The Internet of Everything (IoE) is already changing our lives in unimaginable ways as everything from clothing, cars, jet engine parts, and roads, to name a few, become “lit up” with data-generating sensors. The resulting explosion in connectivity among people, processes, data, and things —
Cisco predicts a surge from 10 billion to 50 billion connections by 2020 — will especially impact the ways in which we do our work.
To give an idea of the importance of collaboration, video and mobility, Cisco estimates that they will account for 55 percent of the $14.4 trillion at stake. That’s a stunning figure and includes people-to-people ($4.5 trillion), and machine-to-people ($3.5 trillion). These ever-evolving capabilities will enable knowledge workers to share insights and actionable data across countries and continents, cutting costs while speeding innovation and time to market.
But how can organizations assess where they stand, before determining their strategies for realizing that value? Cisco Consulting Service’s IoE Collaboration Index is a tool that can help.
All of which underscores the critical need for all organizations to assess their IoE collaboration, video and mobility readiness, which is where the IoE Collaboration Index comes in. We use it to define the level to which an organization is prepared to successfully adopt new capabilities.
We measure readiness across five indices:
Many customers have said to us, in effect, “we get it. The Internet of Everything is coming and we don’t want to wind up in the dustbin 10 years from now.” Indeed, even those companies that have invested in the right technologies are not always getting the most value out of them. Other organizations have little idea of how they stack up against their peers.
In our discussions, four key questions emerge:
- How can collaboration, video and mobility solutions provide durable value for our organization?
- How do we accelerate our journey and ensure value?
- Help us develop a roadmap to realize the value of the investments?
- How should we leverage Cisco innovations to drive our innovation?
The IoE Collaboration Index addresses these questions by leveraging some of our most incisive research. In particular, we have focused on why leading organizations perform better than their peers. For starters, these top quartile performers exhibit some key traits: their technology adoption culture features a high willingness to embrace change; their processes are mature and standardized; technology standards are established; and their current value realization from collaboration is high.
Compared to bottom quartile performers, leading organizations are 38 percent more likely to capture the value at stake than bottom quartile performers. We rank those bottom-level performers as “at risk.”
To find out where your organization sits in the overall scheme of IoE collaboration, video and mobility, please explore the IoE Collaboration Index. Some organizations are already leading the journey to realize the value at stake; others will need to catch up on their capabilities and readiness. Go to: www.cisco.com/go/ioecollab