Step 2: Analyse data to create value
The value of IoT goes far beyond data gathering and real-time monitoring. Companies will increasingly see the need to upload massive amounts of data to the cloud, to support flexible resource scheduling and visualized operations. They will also look to process their data using machine learning and cognitive analytics in order to develop the new services that will bring them success. Looking forward, IoT platforms that are open, deployed on the cloud, and with big data analytics capabilities will be the ones to watch.
Step 3: Explore new value for new business models
Riding the wave of digitalization, there is a gradual shift by industries from focusing on their own verticals to open collaboration with each other, forging closer ties across verticals. We will see traditional industry blend with digital, one sector link to another, and downstream loop back into upstream. Companies will jointly explore and incubate new business models and commercial applications. In this process, it will be important for companies to bring an open and long-term perspective to their selection of IoT partners. They will need stable, win-win relationships to secure success in IoT.
Cloud is a lynchpin in the global digitalization process but there remain challenges and concerns about it. These include protecting core data assets, cybersecurity, avoiding vendor lock-in and local service support.
As a result, the ability to navigate these is important. Unlike start-ups and small businesses that don't have legacy pressures, medium- and large-sized enterprises need to look beyond pure technology, and identify long-term partners who match their business priorities.
The right partners need to:
- Understand both traditional IT systems and new business needs so as to ensure future-oriented upgrades.
- Place customers' interests first, and respect customers' data integrity and privacy.
- Have the capabilities to ensure that customers' business can run safely on the cloud.
- Support an open structure that ensures seamless data transfers among various platforms in a way that protects earlier investments in legacy systems and helps smooth the migration to new systems.
- Offer proven local capabilities and on-the-ground support to respond quickly in every step of customers' journey to the cloud, while also providing complete adoption services, including evaluation of readiness, system transfer and testing, operations & maintenance, etc.
- Provide up-to-date industry knowledge and strong local partner networks, with a deep understanding of the local lay of the land, including regulations.
Whilst all companies realize the importance of digital transformation, the key question is how to proceed. In answer to this, Huawei has suggested a "digital triple jump" approach that companies can use to launch themselves into the future.
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