{"id":3991,"date":"2017-04-18T13:20:42","date_gmt":"2017-04-18T20:20:42","guid":{"rendered":"https:\/\/www.esri.com\/about\/newsroom\/?post_type=wherenext&#038;p=3991"},"modified":"2022-06-13T14:38:07","modified_gmt":"2022-06-13T21:38:07","slug":"mining-new-business-insight-internet-things","status":"publish","type":"wherenext","link":"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/mining-new-business-insight-internet-things","title":{"rendered":"Mining New Business Insight from the Internet of Things"},"author":431,"featured_media":8151,"parent":0,"menu_order":0,"template":"","format":"standard","meta":{"_acf_changed":false,"sync_status":"","episode_type":"","audio_file":"","castos_file_data":"","podmotor_file_id":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","filesize_raw":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","_links_to":"","_links_to_target":""},"categories":[],"tags":[],"department":[476822],"wherenext-category":[],"industry":[],"class_list":["post-3991","wherenext","type-wherenext","status-publish","format-standard","has-post-thumbnail","hentry","department-data-and-ai"],"acf":{"short_description":"Connecting assets to the IoT is important, but knowing where they are, and drawing business insight from their location, is more valuable. ","pdf":{"host_remotely":false,"file":"","file_url":""},"flexible_content":[{"acf_fc_layout":"content","content":"By now, the <em>Internet of Things<\/em>\u2014the interconnection of billions of devices\u2014is familiar to executives, and the subject of <em>what<\/em> needs to be connected is well worn. Less understood\u2014but no less important\u2014is the power of location. With a firm grasp of where IoT-connected assets are, an executive can turn <a href=\"https:\/\/www.esri.com\/en-us\/location-intelligence\">location intelligence<\/a> into better business decisions.\r\n\r\nMost location information includes the dimension of time. This allows executives to analyze patterns, view real-time intelligence, and predict outcomes."},{"acf_fc_layout":"image","image":20021,"image_position":"left","orientation":"horizontal","hyperlink":"http:\/\/www.esri.com\/iot?adumkts=branding&aduc=advertising&adum=house_ad&utm_Source=advertising&aduca=branding&aduco=iot_industry_leaders&adut=mining_new_business_insights_from_internet_of_things&adupt=awareness"},{"acf_fc_layout":"content","content":"In the following animations, we\u2019ll examine how companies in a range of industries are leveraging the where, when, and what of the IoT to boost profits, raise revenue, and enhance customer satisfaction.\r\n\r\n<strong>Customer Analytics<\/strong>\r\n\r\nWith\u00a0<a href=\"http:\/\/www.digitalspy.com\/tech\/feature\/a820748\/amazon-prime-air-drone-delivery-service\/\">Amazon drones testing package drop-offs<\/a>\u00a0and most e-commerce companies moving toward same-day delivery, traditional retailers face mounting pressure to deliver to customer expectations.\r\n\r\nFor years, online retailers have had an edge when it comes to measuring consumer preferences. Websites closely track how visitors navigate online shopping experiences, and e-commerce companies use that knowledge to improve margins and customer satisfaction. That might mean adjusting airfares on a site in real time, recommending similar products for a shopping cart, or allowing one-click purchases.\r\n\r\nBrick-and-mortar retailers fell behind with such optimization because they lacked good data on where customers spent time in their stores. Now, through IoT and <a href=\"https:\/\/www.esri.com\/about\/newsroom\/arcuser\/location-technology-drives-intelligent-action\/\">location technology<\/a>, that\u2019s changing.\r\n\r\nLet\u2019s look at how one retailer has leveraged location in the Internet of Things."},{"acf_fc_layout":"youtube","youtube_video_url":"http:\/\/ https:\/\/www.youtube.com\/embed\/7WNGPCKcuO4?rel=0"},{"acf_fc_layout":"content","content":"&nbsp;\r\n\r\n<strong>Operational &amp; Predictive Intelligence <\/strong>\r\n\r\nIn asset-intensive industries, new technologies can deliver vital efficiencies. Let\u2019s explore how one utility company improved its operational efficiency in real time with the location intelligence of a geographic information system, or GIS, and the connection of IoT."},{"acf_fc_layout":"youtube","youtube_video_url":"https:\/\/youtube.com\/watch?v=Kca-NWJqY4Q "},{"acf_fc_layout":"content","content":"&nbsp;\r\n\r\n<strong>New Forms of Service Revenue <\/strong>\r\n\r\nToday, a progressive group of companies is bucking the stereotype of manufacturers as technology laggards. These leaders are using spatial intelligence and the Internet of Things to gain benefits beyond operational efficiency and customer satisfaction.\r\n\r\nOne example is a manufacturer of airplane engines. For decades, its business model was straightforward: Sell the engine for a fixed price and compete for maintenance contracts for lifetime service and parts. Today, the company is experimenting with new forms of revenue\u2014none of which would be possible without understanding the \u201cwhere\u201d of the Internet of Things. Let\u2019s look at another example."},{"acf_fc_layout":"youtube","youtube_video_url":"https:\/\/www.youtube.com\/embed\/2Uq87mZhDUI?rel=0\u200b"},{"acf_fc_layout":"content","content":"<strong>Mining the New Data \u00a0<\/strong>\r\n\r\nAt the intersection of the Internet of Things and location, executives have found hidden reserves of business intelligence. The scenarios above are merely a sampling; the possibilities are as vast as the IoT itself.\r\n\r\nAs you develop your plan for the Internet of Things, it\u2019s essential to know how your business can profit from the \u201cwhere\u201d of IoT.\r\n\r\n<em>For more insight on digital transformation, <a href=\"http:\/\/go.esri.com\/digital-transformation\">click here<\/a>. <\/em>"}],"references":null},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.9 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Business Insight and Competitive Advantage in IoT Data Internet of Things<\/title>\n<meta name=\"description\" content=\"Leading businesses are discovering new customer insight and increased operational efficiency in data from the Internet of Things, or the IoT.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/mining-new-business-insight-internet-things\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mining New Business Insight from the Internet of Things\" \/>\n<meta property=\"og:description\" content=\"Leading businesses are discovering new customer insight and increased operational efficiency in data from the Internet of Things, or the IoT.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esri.com\/about\/newsroom\/publications\/wherenext\/mining-new-business-insight-internet-things\" \/>\n<meta property=\"og:site_name\" content=\"Esri\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/esrigis\/\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-13T21:38:07+00:00\" \/>\n<meta property=\"og:image\" 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