How to monetize your IOT Assets – Suresh Kannan, Chief Architect – digiBlitz
“Internet Of Things” market’s tag of Multi-Trillion dollar Market Cap is driving everyone crazy. As usual, the business executives are planning and executing huge IT/Engineering spendings; marketers are geared up to spend millions of dollars on campaigns; industry standards bodies are working hard to get everything moving in the positive direction; Software giants are investing huge infrastructure on the cloud to connect billions of devices. But one thing that is haunting everyone silently is how to get the ROI? When does this spending spree will be over and when they all can start producing positive cash flow?
My constructive conversations on this topic with the leaders mostly ends with the abrupt dismissal of conversation. They all get irritated with such questioning. It makes them uncomfortable and upset. Because they believe it not their job to talk about returns. And some of them say that we should worry about making money at the end of maturity in the Lifecycle. What a load of nonsense! Why would the business spend Money when it will come to know about how much will be the returns only later? Given the magnitude of these expenses, imagine how many companies will go belly-up? This kind of attitude only created trouble for the DOT-COM. The arrogant attitude and irresponsible planning of the CEOs and CTOs of the dot-com companies eventually led to the crash. Yes, the market rewarded even stupid ideas in the early stages. Most of them had a similar attitude of who cares what happens after maturity? Executives were only focusing on millions in compensations and shares; institutional investors were focused on high-profit exit at IPO with a huge pile. Finally, everyone left it to the common man shareholder to suffer or government bailout. Unfortunately after 17 years, the same attitude prevails in the industry which is a dangerous trend. Irresponsible companies will burst the bubble.
But the major difference is that IOT is a completely different breed of innovation than the Dot-Com / Interne. Dot-Com boom was the derivative of the Internet as the innovation. But that derivative was overcooked and ballooned by the Market and the Investors with short-term profit motivation. And many businesses actually mistook dot-come itself as innovation. It took many years after the Dot-Com burst for many to understand the difference. But by then they have either lost their fortune either by staying away from it or by playing it wrong. Having said that, we should understand that the next trillion-dollars boom which is underway, is an unavoidable beast. If you properly handle it, it will bring you a fortune. If you avoid it, it will kill you. So, businesses should realize that the only way handles a boom driven by a technological innovation of this massive size is to focus on budgeting the “full Life Cycle” in their spending through complete strategy & vision planning through “Monetization as the center of the Cycle” as a continuum. digiBlitz Strategy is driven by that principle. digiBlitz IOT platform is a full-lifecycle IOT development platform by incorporating Monetization as the centerpiece.
The uniqueness of Monetization is that it should not be only approached as a business responsibility of tool. Monetization although ultimately about making “Money” from your IOT investment, will fail to produce the result if you approach as a business/sales responsibility. There are components of Science, Art and even Math involved in Monetization. Since it is very difficult for business leaders to put all these pieces together, I have created digiBlitz IOT platform for doing it as long as you adapt to the platform for your IOT development. As the creator/inventor of the platform, I am also now taking it next step to teach & train the leaders for IOT Monetization as the Enterprise Practice. I have developed this workshop as “Vendor Neutral” and “Platform Neutral” so that you are not forced into an ecosystem. Rather, I will show you how to transform your ecosystem as Monetization centric by simply aligning your existing tools, methodologies, and systems. To learn more about the workshop and sign up. Please click here..
For any questions and discussions, I am always available at 571-528-3937 and firstname.lastname@example.org.
Suresh M Kannan
Chief Architect, digiBlitz