Mobile companies need to become service-driven businesses to succeed in the Internet of Things (IoT) market, Jasper has claimed.
Speaking to Mobile, the IoT platform explained that services are now the key driver of IoT, with multiple connections opening up new capabilities and new ways in which to interact with the consumer.
Succeeding with services
Macario Namie, VP of strategy at Jasper, explained that most companies have passed the stage where they need to learn about IoT. He said that now businesses want to know how to implement it in their organisations, claiming the way forward is by starting with services.
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He said: ‘For most organisations we’re typically past the “what is IoT? Should I do it?” stage. It’s now about “how do I do it and benefit from it?”. People love this idea of big data, but how much is actionable and what business model can it deliver?
‘What we’ve seen is that one of the key determinants between success and failure in IoT deployment is if companies start with services they wish to deliver and work backwards from there – the technology tends to fall into place really easily. Some companies get enamoured with tech and modems and data. They only focus on solving the tech problem and miss the point of what they are doing this for, and they fail because they haven’t set it up properly.
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‘The driver for IoT is about becoming service businesses. In the traditional product b2b model, the company builds hardware, designs it for three or four years, puts it through manufacturers and into the hands of customers, and everyone gets a pat on the back when the product sells and they don’t speak to that customer again. Now, when the product becomes connected, it opens up a new world of how companies engage with customers, now they have real-time product information and performance.’
Namie believes that the changing habits and demands of customers has seen a drive towards paying for services, and that this in turn has opened up new revenue streams and new business models to companies.
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He said: ‘With IoT, customers can be made available to new business models, and it is not wholly dissimilar to what we have seen in enterprise software. We have seen the cloud model devour the traditional software model and it has changed the expectations and buying habits of customers – they want to buy by outcome and pay for services they receive.
‘Managing a service business is fundamentally different from a product business, and most b2bs don’t appreciate that until they get into it. There is a strong desire to process information but you need automation to scale it up and do it globally, and that’s where we play.’
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‘True customer’ focus
Jasper has recently partnered with IBM to ‘alleviate the b2b burden’ surrounding IoT, making it easier for businesses to enter the market by providing the required building blocks. He said the two will work together to make it ‘as easy as possible’ for businesses to enter IoT and connect their own ‘things’.
Namie said: ‘Jasper plays an important part in IoT and we want to eliminate friction for the enterprise and make it as easy as possible to get IoT up and running. We are going to enable enterprises to have one place to go and see, not only information about devices and the data coming off these devices, but also information about service, life cycle and behaviour. We can then blend information together for control purposes. We’re doing it so businesses don’t have to do it themselves. It will alleviate a huge burden for them.
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‘This partnership is focused on helping the largest enterprises trying to connect their own “things” and what is it they need to do this successfully. The enterprise is the true customer; they’re the ones actually embracing IoT. For us it really is about acceleration for enterprises. We want to do anything we can to enable them to get to market faster, to have more successful deployments and be at scale within the next year or two years by streamlining technology complexities.’