Our digital landscape is rapidly being taken over by a seemingly endless list of everyday appliances that now have the ability to communicate with each other--the network of objects commonly known as the Internet of Things.
The colossal amounts of information being collected will continue to be added to the heaving pile of so-called big data. Meanwhile, Gartner advised that over half of new business processes and systems will also incorporate elements of the Internet of Things.
The big questions are about the business value that we can leverage from IoT. How can we transform these figures and statistics into tangible benefits to deliver the strategic advantage over our competitors?
The data behind IoT represents a wealth of opportunities. But, there is an equal measure of excitement and fear in the air. It seems there are more questions than answers behind the tech trend that everyone want to know more about.
CallidusCloud believe they have the answer to these questions with their new platform. It will deliver data in real time to specific sales and marketing applications. The new release will formally be unveiled at CallidusCloud's C3 Conference in Las Vegas. But, the time to think about how your organization can leverage the data behind the ubiquitous treasure trove of IoT should begin immediately.
I reached out to Giles House, chief marketing officer and senior vice president of CallidusCloud , to understand what challenges IoT will bring to sales processes across the globe and he replied.
"The sales process is becoming increasingly complex, with more buyers involved and cycles taking longer," House said. "Buyers are accustomed to immediate information and expect instant response--the days of a firm handshake being enough to close the deal are long gone. Sales and marketing need to be connected and armed with powerful customer insights that help close deals faster. If you're not running on a connected lead to money platform, gearing up for the implications of the Internet of Things will be almost impossible."
IoT data enables customers to improve both the customer journey and sale process. CallidusCloud believe that accurately incentivizing sales people and automating the manual processes of the sales cycle will save both time and money while also delivering a 21st Century customer experience.
Bringing real value and tangible benefits to an area known for wasting an enormous amount of resources is understandably attracting interest from large and small businesses. CallidusCloud is currently working with a company that is connecting 100,000 sensor-enabled devices to its IoT-enabled Configure Price Quote solution.
The data from these sensors enables businesses to generate price quotes and automatically send replacement parts. Understanding an organization's data along with the automation of everyday processes is becoming crucial in gaining a competitive edge. The wake-up call is delivered in the knowledge that there are more connected devices than people on the planet right now.
Those that fail to understand the very real implications of IoT and adjust their business strategies accordingly could find themselves getting left behind very quickly. Having the flexibility to launch an immediate marketing campaign based on customer behavior data is something that should not be underestimated.
When I recently interviewed Giles House on my podcast, I confess that I was pleasantly surprised that our conversation wasn't all about big data, IoT and sensors.
Very often we focus too heavily on the technology. Unlocking the data behind IoT will reveal the true potential. But its real value is assisting organizations to become more customer focused, bring people together and deliver a unique customer experience.