Balance return of investments with risks, look at trade-offs between cost – availability – performance and capacity – safety and compliance. Big data and IoT provide insights to assess this dynamically. IoT promises:
- Faster insights / situational awareness with predictive/leading indicators reducing the lag time for taking actions, resulting in better performance.
- New ways to engage with customer/consumer (loyalty programs) and drive innovation.
- Monetizing services (often experimental), monitor assets, device management, alerting/geofencing functions.