Billions of devices are expected to connect to the network by the end of the decade. These previously unconnected devices and sensors will inject loads of data into businesses. If analyzed properly, that data will eliminate the guesswork from many business decisions, from how to manage the supply chain to how to service products.

But the far-reaching impacts won’t stop there. Connected devices will also open up new service models that were previously impossible, note Michael Burkett and Steven Steutermann, managing vice presidents at Gartner. Those changes are already being felt.

“Lockheed Martin monitors the health of its F-35 fighter jets to guarantee flight availability by predicting service needs and driving the service supply network. In consumer products, Coca-Cola’s Freestyle beverage machine allows customers to custom mix their own drinks, disrupting the traditional distribution model while also capturing valuable customer insights for future products. While the [Internet of Things] is still in its early stages, digital business promises to harness its potential for new value, while disrupting the supply chain as we know it today,” write Burkett and Steutermann. (via CIO Journal)

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