Analytics for the Internet of Things (IoT)

The Economics of IoT Analytics

You sit in your office staring out the window at the building across the street. You feel the tap, tap, tap of your pen against your forehead as you fiddle with it lost in thought. Your boss left your office twenty minutes ago.

"We need a predictive maintenance program," he had said, "But it can't lose money! We need more revenue coming in. But I don't want you wasting your time on analytics that won't make us money."

You agreed and nodded your head with a thoughtful smile firmly held on your face. You know how to think about analytics but not necessarily how to look at it from a revenue and cost perspective.

"And I want you to keep trying new things! Let's keep up the experimentation. You are doing great! Just ...