Closing the Loop for Value Capture

Abstract

When we look across the two spectrums of IoT—consumer and industrial, we see different things evolving. On the consumer front we see more focus on distribution of new capabilities to mass markets; on the industrial IoT front, we see more focus on deeper analytics. In both cases, if we do not have enough focus on closing the loop between sensing, data, analytics, and customer outcomes, the promise of IoT will be underachieved. There are many examples of businesses that have failed to take off despite having cool devices, technology, and analytics because they failed to close the loop with the customer. For large existing businesses making a foray into IoT, closing the loop with internal business operations is a huge challenge.

“Intelligence is the source of technology. If we can use technology to improve intelligence that closes the loop and potentially creates a positive feedback cycle.”

—Eliezer Yudkowsky