What is the Internet of Things?
Also known as IoT, the Internet of Things is a network of interconnected physical objects with technology that allows them to interact with their environment, this includes other devices or people, generating data that is later analyzed, turned into information and then utilized as leverage to make decisions that have great impact over the service provider’s business objects.
How does the IoT impact service provider companies?
IoT allows utilities to:
- Improve operational efficiency by optimizing resources.
- Generate new customer experiences by completing tasks in a more agile and efficient manner.
- Create new and improved business models thanks to the diversification of service offerings.
What are the main business cases driven by IoT?
IoT supports a wide range of utility business cases. Among the most important business cases is the implementation of AMI (Advanced Metering Infrastructure), which allows companies to optimize their grid and implement demand-response programs. Additionally, IoT is also utilized in predictive maintenance to timely detect failures in order to ensure the quality and continuity of service uptime.