Deriving Value from Device Data

50 %
50 %
Information about Deriving Value from Device Data
Technology

Published on March 4, 2014

Author: wiprotechnologies

Source: slideshare.net

Description

Analytics has helped increase profitability and enhance customer experience. Numerous devices supplement existing enterprise data sources.

Deriving Value from Device Data 1 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Agenda Device Data: Trends and Relevance Business Model Implications Value Added The Way Forward: 3B Framework Conclusion 2 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Device Data: Trends and Relevance Analytics has helped increase profitability and enhance customer experience Traditional data sources: CRM systems, HR data, historical sales figures, etc. EIU Survey: Machine-generated Data Collection Trends Majority of organizations actively collect device data 51.1 Collect 12.7 Plan to collect Do not collect 29.2 Don't know % of respondents (CXOs) and their attitude towards device data (e.g., sensors, smart grid, RFID, network logs, telematics, etc.)      3 Numerous devices supplement existing enterprise data sources Boeing 737 engine creates 20TB of data per hour in flight Oil rigs generate ~30,000 data points per second This flood of information needs to be transformed into insights Hitherto ignored device data can prove to be a differentiator © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL 7

Business Model Implications Device Data and its Business Potential Telematics Data • Insurance: Pay-asyou-drive insurance • Automobile: Better inventory management • Aerospace: Accurate equipment state assessment Remote Sensing Data • Consumer Electronics: Customer-oriented devices • Logistics, retail, etc.: Better supply chain management • IT departments: More automation Device Logs • Oil & Gas: Better risk mitigation • City planning: Transportation and route optimization  New business line: GPS driven “anytime-anywhere” vehicle servicing  Ancillary business line: New insurance plans based on medical device data  Existing business enhancement: Improving cell phones using network logs 4 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Value Added Device data analytics is beneficial in cases where: • Customer interaction is limited • Data can assist in device maintenance New Revenue Streams Device data can lead to service discovery and increase customer spends E.g., a washing machine manufacturer can offer remote diagnostic services Value Added Cost Reduction Enhanced Customer Experience Real-time data can help fine-tune preventive maintenance schedules of machines E.g., data can help diagnose faults in medical equipment and thus avoid downtime 5 Tracking customer behavior through their devices can help reduce attrition E.g., cable & satellite services that track viewing can customize channel offerings © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

The Way Forwards: 3B Framework Massive volumes of device data can be capitalized by: • Investment in people, processes and technology • Conscious effort to use it in strategic decision-making • Identify lines of business that will benefit from device data • Develop ROI models Build a Business Case Invest in technologies for: • Data storage and processing • Visualization and predictive analytics • Isolate relevant data sources • Baseline data quality • Ensure adherence to regulations 6 Base-lined Data Processes Best-ofBreed Technology © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Conclusion  Tough business problems can be handled using untapped data sources – machinery, sensors, mobile devices, etc.  Sophisticated analytical engines are required to extract value from vast tranches of data  Strong organizational focus is needed to ask the right questions and combine insights from several concurrent data streams. 7 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

For more details please visit the link below: http://www.wipro.com/retail-big-data-revolution/docs/Wiproanalytics-leveraging-device-data-analytics.pdf 8 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

About Wipro Wipro Ltd. (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology"; helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner's approach to delivering innovation and an organization wide commitment to sustainability; Wipro has over 140,000 employees and clients across 61 countries. For more information, please visit www.wipro.com 9 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Thank You ©Wipro Limited, 2014. All rights reserved. For more information visit www.wipro.com No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation clients should take advise from their client engagement manager. 10 © 2014 WIPRO LTD | WWW.WIPRO.COM | CONFIDENTIAL

Add a comment

Related presentations

Presentación que realice en el Evento Nacional de Gobierno Abierto, realizado los ...

In this presentation we will describe our experience developing with a highly dyna...

Presentation to the LITA Forum 7th November 2014 Albuquerque, NM

Un recorrido por los cambios que nos generará el wearabletech en el futuro

Um paralelo entre as novidades & mercado em Wearable Computing e Tecnologias Assis...

Microsoft finally joins the smartwatch and fitness tracker game by introducing the...

Related pages

Big Data Use Case: Deriving Real Business Value from ...

... The hidden value in these data logs How to ... is a hot trend in todays’ connected device ... Big Data Use Case: Deriving Real Business Value ...
Read more

Deriving Value from Sophisticated Data Management

Every stage of medical device development is dependent upon the collection of accurate data. From trial data collected during the research and development ...
Read more

Deriving value from data for business development

Deriving value from data for business development ... many companies with the daunting task of deriving value from these data. ... device development ...
Read more

Patent US20120291521 - Method and device for deriving the ...

... —deriving an estimated value of the ... Method and device for deriving the concentration ... comparing a data set composed of derived ...
Read more

Deriving business value from the Internet of Things

Deriving business value from ... and other devices is blurring as device usage converges. ... Big Data and Analytics solutions to deliver new customized
Read more

Deriving Value from the Internet of Everything

Then comes the challenge of deriving value from that data. ... of 100 customers that have already begun deriving value ... device connects ...
Read more

Patent US8616045 - Method and device for deriving the ...

A method for deriving the concentration of a gas dissolved in an electrical ... —deriving an estimated value of the concentration of the gas in ...
Read more

DERIVING VALUE & INSIGHT FROM DATA - Evolve Analytics

DERIVING VALUE & INSIGHT FROM DATA ... up many doors and to add significant amounts of value. As the size of this data rapidly ... device capable and data ...
Read more