Years ago, Pirelli just made and sold tyres. Nowadays it is a service provider, helping business customers to optimise fuel consumption and maximise the lifespan of each tyre. Pirelli does this by collecting analysing data from smart tyres – tyres with sensors.
This is an example of the new opportunities opened up by the internet of things (IoT), a world where things talk to things, and processes have two-way connectivity. Research firm IDC estimates that by 2020, 40% of all data will be machine-generated, with 20 to 50 billion devices fuelling that growth.
By Rian van Heur. Companies are thinking about how to benefit from the internet of things. Next up is changing the business model and putting the processes in place.