How the Industrial Internet is Changing the Competitive Landscape of Industries

New research from GE and Accenture reveals that executives across the industrial and healthcare sectors see the enormous potential of the Industrial Internet - the combination of Big Data analytics with the Internet of Things.

The Industrial Internet enables companies to use sensors, software, machine-to-machine learning and other technologies to gather and analyze data from physical objects or other large data streams - and then use those analyses to manage operations and in some cases to offer new, valued-added services.

The research reveals that there is a growing urgency for organizations to embrace Big Data analytics to advance their Industrial Internet strategy. The vast majority of respondents believe that Big Data analytics has the power to dramatically change the competitive landscape of industries within the next year. Most are investing accordingly, with the support of their Board of Directors.

Nonetheless, challenges around security, data silos and systems integration threaten to delay Industrial Internet solutions that could offer distinctive operational, strategic and competitive advantages.

The Industrial Internet has the potential to drive trillions of dollars in new services and overall growth. To reap those rewards, industrial companies will need to use insights about their customers and their customers’ use of industrial goods to build new offerings, reduce costs and reinvest their savings.