Google, Alibaba, Apple, and Facebook have more in common than being the world’s largest companies: they are all based on digital platforms. Companies that use platforms are ahead of companies that sell products. Still, estimates show only 3% of incumbent companies have adopted a successful digital platform. How can you make a difference? Start using the Internet of Things (IoT) on your platform.
Gaining productivity while reducing costs
IoT provides companies with a wide range of data. IoT data streams can be used for machine learning, to improve operational efficiency, anticipate problems and optimize your business. IoT allows you to become a more data-driven company. How? Ford invented a full IoT suite for its workers. By tracking its workers’ movements, Ford tried to make the workplace more efficient and safer. Magnet 360, a company that needed a new heating and ventilation system when moving offices, used sensors to measure airflow and automate heating, which saved them up to 70% of energy costs.
Next-level customer experience
Most of the successful companies mentioned above are constantly striving for customer satisfaction. IoT offers a lot of information on this topic. Companies are gaining greater insights into how their customers interact with their products and on their preferences. Such a data stream can be used for advanced analytics, visualizations and machine learning. Companies can quickly adjust product features or release customized offers, thus allowing them to deliver a far better customer experience.
Data for sustainability
IoT is even capable of making your business more sustainable. Google uses sensors in its data centers to measure the status of its cooling system. Using A.I. to analyze this data helps to define potential actions that affect energy consumption, which has helped to drastically improve the energy efficiency of Google’s data centers.
In a nutshell, Energyworx is all about building an energy data management solution using Google Cloud Platform. Energyworx uncovers and monetizes energy data from sources like IoT sensors, the energy grid, and energy-generation facilities. Companies that subscribe to Energyworx’ tool can delve deeper and analyze their data by using machine learning. A utility company can, for example, see how much solar energy was produced between 1 and 2 pm on a certain day. Corporates can see how much energy their 1,500 facilities used.
“With Google Cloud Platform, we’re able to give our customers the tools they need to gain valuable insights from energy data. They can perform fast queries, only have to pay on a per-use basis, and have all the data they need at their fingertips,” states Edwin Poot, founder of Energyworx.
Designing a connected vehicle platform
Car insurance has historically been based on the drivers’ driving and safety behavior. What if these estimates could be more precise? IoT offers this option. Vehicles are becoming sophisticated IoT devices and information can be shared with third parties. Sensors allow for measuring acceleration, driving speed compared to speed limits, and even external environment factors.
Insurance companies can adjust insurance policies accordingly, allowing for so-called usage-based insurance. Driving information can be viewed by the insurer as well as the customer. The latter can monitor driving patterns and make adjustments to improve chances of getting a discount. Insurers can offer mileage-based and driving behavior-related discounts.
Your very own IoT within 40 minutes
Google even offers the option of trying out the Internet of Things with your own device within 40 minutes. Qwik lab offers a hands-on opportunity with Google’s IoT Core. The video below explains how: