IoT – Think big, then keep it simple

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What do you understand under IoT? I’m sure asking 100 people I will get a minimum of 100 answers. How can we sum it up?

IoT is about these three main parts:

  1. New Products and Services
  2. Simplifying and shorten Processes (mainly driven by IT)
  3. Customer Experience

Point one and three are directly connected. Winning within marketing is all about the right communication at the right time. This needs the right data. Every marketer has different data silos and needs to handle this date, make them usable. Let’s have a look into the different areas needed to thought about:

  1.  Data Sources
    1. First Party (your own collected data)
    2. Second Party (someone else first party data you are partnering)
    3. Third Party Data (external bought data)
  2. Data Requirements
    1. Availability
    2. Speed (Do you need the data in real- or near-time or are they time uncritical)
    3. Memory Requirements (Raw data vs. aggregated data. What can be reduced through aggregation?)
  3. Merging Data (online & offline)
    1. Unique identifier
    2. Raw-Data vs. Aggregated Data
    3. Real-Time vs. Near-Time vs. Non-Time-Critical Data
  4. Data Usability
    1. Unique Identifier
    2. Data processing / reworking
    3. Personalization (Within legal frameworks.)
  5. Analysis
  6. Predictive Modeling
  7. Data Accessibility
    1. Processing
    2. Export
    3. Direct Access (Real- or Near-Time needed?)
  8. 1:1 Communication

This will give a short overview about the main topics to think about. Each of these points is complex. Think there are many post to find online about each one. I do not want to step into this,  just give an overview of the areas. Having more information you will need to rework through all your processes. Processes within marketing, production and / or logistic for example. It will help you to optimize your business day by day, so start loving DATA.

IoT is for sure NOT IT + o, but the IT part is the most difficult part in it.

To sum it up keep one sentence in mind: Think big, then keep it simple

Read more at https://esser.me/start-digital-transformation-project-data/


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