by Exosite, on December 10, 2015
Building fleets of IoT connected products to fulfill real-world needs is exciting and powerful, not just for the value it brings today, but also for the value it promises in the future. Making an investment in a connected product offering is just that: an investment for the future. In order to make an initial connected product strategy successful, it is important to intertwine individual product performance with a long-term objective to revolutionize the company and the industry based on data analytics.
Data analytics progresses in four stages of maturity, each building on the one before it:
Descriptive analytics.
What happened?
Diagnostic analytics.
Why did it happen?
Predictive analytics.
What will happen?
Prescriptive analytics.
What should I do?
In order for any of these levels of analytics to be possible, devices must first be connected, which starts with an IoT strategy foundation that is valuable in and of itself. But that strategy must also pave the way for a future of data-driven analytics that can revolutionize the way users engage with products and brands.
Connect with an Exosite IoT expert to discuss your IoT strategies or download this insightful white paper.
