By Martin Bakal
I recently joined Flexera Software as a Product Marketing Manager in the software licensing and entitlement management division. Part of my role is to manage the roll out our entitlement management back-office solutions but another piece is to work on our marketing strategy for the Internet of Things (IoT). I explained this to a friend who isn't in the technology field and he asked what does IoT mean? He had been hearing all the IoT buzz but simply didn't know the reason for all the hype. I explained that in its simplest form IoT is a group of devices that deliver a service by connecting with each other through a network. I always want to make things more concrete so examples help.
One example is people using the GPS in their car for navigation, but with IoT this becomes even more useful when the GPS itself is communicating back with a computer which then is leveraging a network to identify traffic jams as they occur. This allows your GPS to re-route your car before ever getting stuck in the traffic jam. I know people who leave the GPS on just to know about traffic jams even when they know how to get where they are going. There are many other examples of appliances that can monitor their own health: connected cars, refrigerators, communication equipment, medical devices, etc. but the key is that they deliver a service to the consumer, be it a business or person.
As you can imagine, the key with IoT is how companies are going to make money. In a recent Gartner report they suggest that Licensing and Entitlement Management is the Key to Monetizing the Internet of Things and fortunately for Flexera Software that is exactly the solution that we provide to software vendors and intelligent device manufacturers.
Check out these Internet of Things related blogs: