In the past few months, there’s been increasing talk about “the internet of things” (IoT.) Recently, Gartner estimated a $1.9 trillion market impact by 2020. And Cisco estimated that for every person in the world, there would be six smart devices (for a total of fifty billion connected devices) by the year 2020. That’s a lot of information.
But what will we do with all this information? So what your lamp “knows” that it’s on at 3 PM each afternoon, and your thermostat “knows” to set itself at 72 degrees if it’s colder than 40 out? The concept of these smart devices is that data points will be aggregated to identify trends and help reduce waste to help you function more efficiently. It’s been said that IoT will usher in an age of prosperity.
For years, we’ve been capable of capturing data. But historically, there’s been very little in the way of processing those data points to create actual information. And even less so to make that information into meaningful knowledge. The lack of actionable intelligence has meant a plethora of worthless data points for both customers and providers. The goal of IoT is to change all that.
For the past eight years, Richter & Company has acted to aggregate information in the realm of the federal marketspace. As your trusted provider of Competitive Analysis and Price to Win services, we have a significant knowledgebase and experienced consultants who work to identify trends and translate data points into meaningful knowledge to help you function more efficiently. And ultimately, win more business.
We gather intelligence outside of your internal business activity; conduct analysis and come up with results, news you can use. The result? Your dollars and time are spent more efficiently. You end up with actionable intelligence, and can usher in prosperity as you win more business.
For more information on winning business, contact Richter & Company today.