There are two main things that organizations want from the Internet of Things (IoT): operational efficiencies and new revenue streams.
Sounds easy, right? You connect to IoT sensors and voila – instant digital transformation, efficiencies and new revenues! It is not that simple.
Most organizations today are looking at undergoing a digital transformation and a big part of that will involve the IoT. But bridging the physical world (analog) with the digital world, or digitization, is just the beginning.
What has to happen next is digitalization, where you use these digital technologies to change a business model and provide new revenue and value-producing opportunities. This is where you transform into a digital business.
And, although there are many technology solutions and many companies claiming to have the answer to IoT, no one vendor can offer a complete end-to-end digitalization solution that offers both operational efficiencies and new revenue streams.
Digitalization involves nurturing of a vast ecosystem comprising devices, technology infrastructures, markets and industries worldwide. Given the breadth and depth of this ecosystem, this means cultivating partnerships and collaborating with the entire community.
In a continuously evolving IoT landscape, you need openness and flexibility and the only way to guarantee this is by partnering with the latest cutting edge technology vendors.
To Software AG this means being able to connect to the Things themselves, which we do through our latest partnership with Cumulocity, and then using other partners to enhance our IoT Foundation with state-of-the-art sensors, enriched data, analytics, integration and cloud connectivity. Having the right partners is key.
Our partner Cumulocity is a leading provider of an Internet of Things (IoT) application enablement platform. It offers a foundation for easily and securely connecting devices and extracting value across numerous industrial environments to produce operational efficiencies and create new revenue streams.
IoT connectivity is the first step in making the IoT work for your organization. It involves linking to sensors, actuators, Bluetooth, WiFi, near field communication (NFC), 4G, 5G, and other low power short range communications, and sending the data through the airwaves to your organization’s systems. This complexity is why we chose a trusted provider like Cumulocity.
When you look at the size of this market, you will begin to sense why having the right partners is so critical to Software AG. You have probably heard all the statistics; 6.4 billion “Things” will be in use by the end of this year, the IoT will add $1.7 trillion in value to the global economy in 2019, IoT in manufacturing is estimated to grow from $4.11B in 2015 to $13.49B by 2020.
So how does an organization begin to try and take advantage of such a huge market with billions of devices and unlimited bits of data? How do you take device data and extract value through the platform, across numerous industrial environments for remote machine monitoring and control, production diagnostics, predictive maintenance, remote service and across several markets and industries worldwide?
The bottom line is that no one can offer a complete end-to-end IoT solution without partnering. This is why we have joined together with several best-of-breed IoT partners to provide our Digital Business Platform with an end-to-end IoT foundation. Software AG brings streaming analytics, application integration, API management and process and service automation to the mix.Built on the foundations of the Digital Business Platform, we have a complete IoT ecosystem that gives your organization the ability to easily and securely connect devices and extract value from their data streams. Get started here.