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The Data & IoT mega-trend allows for new applications and business models; acquired data serves to optimize processes regarding development, production, service, strategy, and sales.
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Its implementation involves several challenges, ranging from the need for new skills and processes to complex security issues.
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For our clients, we locate specific potentials through Data & IoT, categorize them strategically, and assist in transforming them into reality.
The Internet of Things, or IoT, is a megatrend of our time.
The emergence of IoT is due to a number of converging developments: significantly falling costs for connectivity and computing power, the meteoric rise of the platform economy, skyrocketing progress in analytics and AI, and new efficient communications standards, to name but a few.
The range of IoT applications is extremely broad and ranges from Industry 4.0 - the fusion of OT and IT in factories and the monitoring of complex machinery using “digital twins” to Consumer IoT, which interlinks home technology and household appliances in smart homes.
As a result, IoT allows for a wealth of new applications and business models. Large appliances, for example, can independently re-order parts and summon a technician in advance, and machines can also be priced as a service, since their use can be clearly understood by the owner.
At the same time, the interlinking of billions of appliances through the internet also means a technological paradigm shift. After years of centralized strategy that led to the introduction of cloud computing, enormous amounts of data from such appliances are now entering the network that do not need to reach the cloud. For example, only deviations from the norm are of interest. Or, information is not authorized to reach the cloud because its associated runtime is too slow to manage in real time.
To benefit from the tremendous opportunities provided by data & IoT, many challenges need to be overcome. Despite many existing initiatives, IoT remains a pilot project for good reason. Technology is developing at a rapid pace; headlines about security problems for networked devices appear on a daily basis; and the implementation of IoT business models often require skills and processes that do not yet exist within the company.
“Mega” also refers to the generated volume of data and the business opportunities that result from it
In addition to the aforementioned possibilities for optimizing and reconsidering existing business models through IoT, opportunities that emerge from the increasing volume of data also multiply.
Whether in the sector of healthcare, automotive, telecommunications, or professional services: as a result of the "big data" trend over recent years, we are now witnessing a new level of maturity with regard to data handling. There is exciting potential within reach when data is not perceived as a by-product and filler of IT initiatives, but instead considered as an opportunity for products and sales based on company data.
Our experience gathered from both client projects and establishing and scaling the Statista data platform demonstrates that companies have to be more forward-thinking than ever before: Companies that look beyond their own proprietary data, aggregate data intelligently, ensure and evaluate its quality, and offer it to the right customer group can generate valuable competitive advantages.
For digital optimists like us, Data & IoT are our central themes
We focus on IoT products for B2B and B2C, data-driven business models, and the components required to put IoT solutions into practice, from connectivity via data platforms to analytics and AI.
Our Services
Whether you are just discovering the opportunities that Data & IoT can provide for your company or are already managing an Iot product portfolio, LSP Digital is your partner. We’ll support you, from identifying sustainable potential and market opportunities to implementing them on a technological and commercial level.
Project Examples
E-Health Data Enterprise Startup
In the health sector, data is extremely valuable – and its management remains an extremely sensitive matter. For an industry market leader, we have developed a data-driven business model and have put it into practice in a startup as a service model, from the business plan to its operational phase.
Data-Driven Revenue Models in the Fitness Sector
How much value can be derived from fitness trackers and similar products? Which partners want to purchase them, and how can an operational business model with true user benefits be based on it? We have addressed these questions for a leading company within the fitness industry, and following its conception, have also assisted them in locating a partner and implementing this model.
From Platform to IoT Solution
A platform provider seeks to enter the IoT solution business and is searching for promising market segments and use cases. Together with Statista, LSP Digital analyzes its market and identifies use cases in which customer access, internal skills, and market opportunities achieve the ideal balance.
Edge Computing MVP
A large telecommunications provider focuses on edge computing and aims to enter the market with a range of appealing options. LSP Digital finds the most suitable fields of application for a rapid go-to-market, assists with the selection of software partners, and sets up a pilot project with the customer.
IoT Sales Optimization
IoT products and solution components are filled with technology – but for the end user, what truly counts is its complete added value. For a multinational IoT sales entity, we have introduced benefits cases, coached the sales team by way of collaborating in concrete acquisition projects, and have improved the organization and controlling at a management level within the entity.
Your Contact Person
Florian Hollender
Partner
E-Mail: florian.hollender@lsp.de