The Director Speaks - "The Internet is an IOT Constraint-Remover"
Earlier this month I had the pleasure to speak at the Honeywell Users Group about how IOT technology was going to change the way we think about buildings as they become smarter and adaptable based on the people and activities in that building. I also had the opportunity to attend an Argyle event which focused on efforts to personalize marketing based on individual needs. I noted that FirstNet has put a series of next generation Emergency Services proposals on the table for the State Governor’s review. And, I also noted a recent announcement from Cisco about their latest security service offering. At first blush, these might seem like disconnected points of interest but I see an ongoing trend. While there are some that might characterize these as a move toward targeted or personalized services but I think this trend is bigger than that. I think a better way to look at this evolution would be as a vector change rather than as a linear shift. It is true that markets are becoming more personal. But markets are also moving to on-demand based services. In addition, markets are becoming more solution or experiential based. Taken together, we are experiencing multidimensional market change and unless one is able to think about these three different dimensions of change simultaneously, important issues are overlooked.
For many, these changes are a reflection of the fact that we have effectively become an on-line society. A growing portion of the workforce has grown up not knowing the world without the internet. This would be an easy statement to make but it appears that the drivers behind these market changes go a lot deeper than that. The fact that data is available that allows extremely fine grain market segmentation plays a role. The fact that business models can be constructed based on usage, preferences and targeted features plays a role. The fact that globalization allows the critical mass to be constructed from a series of disparate markets also serves to play a role. So yes, one could say our dynamic markets were enabled by the internet but it would probably be truer to say that internet removed the constraints that held things back from satisfying our fundamental desires.