The following IoT strategies can be used to ensure an organization is focusing on value capture as opposed to merely going through a simple pricing exercise in which margin is added to a base cost:

CEO Hans Rempel Provides Insight about Big Data Analytics in CIO Review

"Exosite Actionable Business Insights through Big Data Analytics," CIO Review, October 2015

Exosite also named among the 2015 Top 100 Most Promising Big Data Solution Providers.

This is the second consecutive year that Exosite was named among the 2015 Top 100 Most Promising Big Data Solution Providers by CIO Review in their annual list.

For companies launching their first connected product fleet, there is significant infrastructure and organizational alignment that must be achieved in order to design, development, launch, and support a successful IoT strategy. Much of this organization alignment can be leveraged for future connected product offerings and so represents more of a foundational shift for an organization to invest in. If not addressed properly, the business case for a connected product fleet can accidentally conflate business-wide concerns and product-specific concerns, which ideally would be modeled independently.

As if creating value with a connected product offering is not difficult enough, capturing value is yet another science to conquer. IoT business models, bundling options, and partnership strategies are all part of the effort to capture value. An in-depth discussion of pricing strategy is outside the scope of this blog, but it is useful to understand a few reasons why it can be a difficult exercise:

Now that you have been able to properly identify your IoT business model, it’s time to optimize for value.

Step one is making sure you have a clear understanding of how your connected product offering adds value in the IoT marketplace. Second, which is arguably even more important, is understanding the value you are providing to your end users, as ultimately you are going to need them to adopt your product as they hold the keys to your success. Once this has been fully understood, a model should be built for quantifying what that value represents. If these are in place, an OEM can then organizationally align to optimize for value.

It is important to build a realistic business model that shows how value is quantified and captured. The following sections describe an approach to quantify and optimize for value within the context of an IoT connected product deployment.

Please join Exosite and Patrick Barrett, Applications Engineer and session leader, at the Embedded Systems Conference (ESC) Nov. 4-5, 2015, in Minneapolis, MN.

Act quickly to join Exosite and other business innovators to share and learn leading edge technology and embedded systems applications in an increasingly connected world. For those seeking to better understand the flourishing IoT market and associated restrictions, solutions, and possibilities, visit the Exosite booth, #10, in the Demo Hall and speak with one of our IoT experts, including Patrick Barrett, for answers to your IoT questions.

Congratulations to Exosite's Will Charlton and his team Soundscout, for taking first place honors at the second annual IoT Hackday on October 17, 2015, in Saint Paul, MN. IoT Hackday brings together IoT engineers and technologists to solve everyday problems by developing IoT connected products to improve our world in just 12 hours.  Other team members include Daniel Feldman and Tony Nault.

Customer service teams are finding themselves right in the middle of a company’s connected product strategy. In addition to augmenting support staff with the new skills, processes, and documentation necessary to support connected products, it is also important to recognize the opportunity to create value by delivering better customer service that is more relevant and efficient.

The Twin Cities area is quickly becoming a major technological hub with new tech companies and events sprouting up everywhere. As one of the first IoT companies in Minnesota, Exosite is sponsoring IoT Hackday this Saturday, October 17th, at Minnetronix in St.Paul. The event brings together local developers that form teams and then compete in a 12-hour hack spree. Tasked with designing and creating a product to improve our world, the teams are free to create as they please. The projects are then judged at the end of the day and awards are given to the top three teams that demonstrated IoT insight and the ability to develop a new and exciting connected product.  Exosite is a Gold Sponsor of the event and will award the first-place winner with free 12-month access to our IoT platform on a Bronze Solution Plan.

For many industrial applications like engine designs for mobile landscaping or street sweeping equipment, enterprises often have limited knowledge about product quality outside of product returns and consumer reviews. Remotely monitoring devices and equipment via an IoT platform provides an opportunity to create value by understanding product quality at a deeper level, including:

Through its recurring online publication, HP Matter provides in-depth insight and expertise on a variety of trending topics and quickly evolving industries. Each issue features Executive Corner interviews with thought leaders in fields relevant to the issue’s topic. Their newest issue on energy examines the convergence of energy and technology, as well as the shift of the energy landscape towards connectivity in an effort to enable greater efficiencies, reduce consumption, and improve consumer experiences.

MINNEAPOLIS, Minnesota (October 8, 2015) – Exosite is excited to serve as a Silver sponsor at the Amazon Web Services (AWS) re:Invent conference and exhibition at The Venetian in Las Vegas, Nevada, October 6th – 9th. Exosite will unveil cutting-edge demos that leverage the IoT-optimized platform services it has built on AWS. These services enable original equipment manufacturers (OEMs) to easily manage manufacturing, device provisioning, and fleet management for any connected product deployment.

Energy is becoming a major concern as the Internet of Things (IoT) industry continues to grow from small IoT connected systems to large-scale industrial applications with thousands of devices on one system. All of those connected devices take energy to collect, transmit, compile, organize, and store the data they create. However, our technology-centric world is evolving faster than energy processes are developing. As a result, the most important question is not how we make things bigger and faster, but rather how we make things more efficient.

The time it takes to get a product to market is crucial to a product’s financial success. If time to market can be reduced, the product will have more exposure to the market, which leads to higher sales. A fast time to market can also establish a firm competitive foundation by securing the critical first or second mover advantage. Connected products enable enterprises to create value by shortening product time to market in a number of ways, including: