Most organizations in business use the old methods that employ the use of databases analyzed to provide information for business models. The information passes through departments after departments until they finally reach the top of the organization. The information gathered from public sources, the internet and information providers. Michael Chui, Markus Loffler, and Roger Roberts write of a futuristic technology that is growing as an alternative source of primary information. The new technology is creating a business model that improves business processes while reducing costs and risks. In addition to providing new business models, the new technology is making the corporeal things a source of information by using sensors and actuators entrenched in substantial objects from roadways to leading lights connected through networks that are both wired and wireless. The sensors and actuators use the same Information Protocol (IP) address similar to that of the internet. The new objects are useful apparatus for perceiving the complexity of the market and reacting to the complexities promptly. Some of the physical information systems now have the capability to work without human invention.
The message that Chi and company sends by the article is that the information methods are changing, as the physical world becomes an additional method of information gathering. The message for this article is intended for companies that deal in technology and related industries that apply the use of technology. This new technology, aptly named internet of things gives companies with the abilities of acquiring the technology an over-edge of companies without those resources. There are pill-shaped micro-cameras that pass through the digestive tract and sending many images to identify starting place of illness. Similarly, there are precision equipments used in farming that help in telling the crop conditions and relaying the information on billboards on pass ways. The crop relays information such as nutrients level, nitrogen levels that make the consumer has access to the profiles that befit their interest.
The article also gives instructions on how a company can apply the use of information analysis to increase access to consumers. The first aspect includes monitoring the behavior of persons, data through space and time by applying presence based advertisement and payment based on locations. The other way is with inventory and supply monitoring and management. The second way is through achieving real time awareness of the physical environment that applies simple detection using directions among other methods. These methods increase visualizations in places such as oil fields and others.
In general, the article makes a case that companies can start positioning themselves for changes by using the innovative technologies to maximize business processes. This requires a change in the traditional methods that have not brought much yield. With the greening of the economy, efficiency in e Energy consumption becomes a key target. Achieving maximum results requires employing small tests to avoid losses and to create competency.
In order for companies to be successful while carrying out this new inventory method, there is a need for reorganization that focuses on developing a plan for creating a formidable design a customer engagement plan. Designing an outstanding customer engagement plan requires that companies understand the manner in which the customers interact with the company. The process also includes having the resources to deliver and allocating responsibilities accordingly while operating the new customer engagement plan. This will be formidable in ensuring success of the new model.
