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July 27, 2015

C-suite urged to act on analytics surge into customer behaviour

Consumer behaviour is shaping development of IoT solutions as customer service models change with the use of big data.

By Joao Lima

The C-suite has been urged to react to consumers’ expectations – expectations which have become more demanding due to real time analytics generated by IoT devices.

Sean Lorenz, Director of IoT Market Strategy at Xively told CBR: "By connecting a product to the internet, senior execs can expect to receive real-time information about how the product being used, highlighting which settings, time of use, possibly location are most popular and those that are not."

Lorenz added that alongside the R&D of the connected product, exploring how to create the networks and processes needed to support them is vital.

The director told the C-suite that there is no escaping once consumers know decision makers have access to how customers are using the product.

Lorenz said: "They [consumers] will expect you to identify problems as, or even before, they occur as well as providing tips on how to get the most out of products.

"Such a high level of interaction is new territory for businesses who normally leave customer service to third parties. Coping with this change requires senior level direction either to create brand new customer service models or bring in companies experienced in using big data within CRM systems."

In the wake of this demand, a study has found that 51% of IoT developers have management and leadership positions in their organisations, with CEOs, CIOs and CTOs representing nearly 20% of IoT developers.

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The "Internet of Things Study 2015, Volume I" by Evans Data Corporation (EDC) has also found that 79% of IoT applications developers use at least 25% of their working time with analytics or databases, and 42% on big data or advanced analytics projects.

Twenty-five percent of developers are more focused on analytics on aggregated data and middleware development (20.5%) than downloadable apps for the client’s device and web apps or web based UI (both near 10%).

The software research company found that 55% of the 578 developers working on or planning projects for connected devices and sensors use the cloud as a first source of connection for the development.

It revealed that 37.9% of IoT apps are being developed in the cloud, and 49.6% of developers plan to begin developing solutions in there in the next twelve months.

Office modernisation is at the lead of developments, with 15.8% of developments being done in this space, followed by B2B eCommerce and transportation with 12.8% and 12.3% respectively.

IoT developers placed at the top of their preoccupations security (21.2%), technology exceeding demand (15.8%) and the variety of data (12.6%).

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