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Are Your 5G and IoT Strategies Holistically Aligned?
The ongoing digital transformation, powered by the advancements of Industry 4.0, is creating a unique opportunity for communications service providers to expand their offerings portfolio well beyond just connectivity.
Case Study #2: Data Monetization Data has risen to become one of the world's most valuable assets. Advancements in artificial intelligence and machine learning are making it possible to turn vast amounts of data into actionable business intelligence. However, to gain these insights, organizations first need access to data, whether collected on their own or procured from an outside source.
The ongoing evolution of how data is shared sets the stage for CSPs to become relevant, and four data monetization tactics have been identified for them:
As the IoT market matures and data is shared across industries and supply chains, the importance of the role of the data broker will rise.
Case Study #3: Transport and Logistics The transport and logistics industry is set to greatly benefit from 5G and IoT progress, and CSPs are in pole position to provide enormous value to organizations in this race. Top global CSPs' current transport and logistics offerings vary widely, spanning the entire IoT value stack. Some approach it from a connectivity perspective (e.g. embedded connectivity), while others from an end-to-end solution (e.g. fleet management) or a platform perspective (e.g. V2X).
CSPs' focus areas are shifting, however, with some demonstrating a notable emphasis on location data brokering and becoming data-exchange providers, mainly due to their ability to collect massive amounts of location and movement data. Other future opportunities include global embedded connectivity, infrastructure connectivity and V2X services.
Within location data brokering specifically, we have been working with CSPs that aim to monetize data by targeting five opportunities:
CSPs possess unique strengths that give them a competitive advantage to provide significant value within the fast-growing 5G and IoT space: ubiquitous and secure networks, highly reliable connectivity, device and data management capability, and access to enormous amounts of data. The key to success lies within leveraging these advantages in concert with a clear and holistic strategic vision.
To learn more about how to turn a holistic 5G and IoT strategy into execution that leads to increased revenue, please read our new report, "Realizing IoT Strategies."
Warren Chaisatien is Ericsson's global head of IoT customer engagement marketing. Jan Abrahamsson is the company's strategic customer engagement manager.
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