IoT in Action: New Service Revenue Offerings

Today, a progressive group of companies is bucking the stereotype of manufacturers as technology laggards. These leaders are using spatial intelligence and the Internet of Things to gain benefits beyond operational efficiency and customer satisfaction.

One example is a manufacturer of airplane engines. For decades, its business model was straightforward: Sell the engine for a fixed price and compete for maintenance contracts for lifetime service and parts. Today, the company is experimenting with new forms of revenue—none of which would be possible without understanding the “where” of the Internet of Things.

Read the article here: https://www.esri.com/about/newsroom/publications/wherenext/mining-new-business-insight-internet-things/