If someone asked you to create an ROI model for an investment in Internet of Things (IoT) connectivity, where would you start?
Organisations today are under tremendous pressure from management and customers to deliver a higher quality of products and services at lower costs, and to do so using existing resources. Any expenditure companies do make to help them achieve this goal is expected to deliver a measurable, hard-dollar ROI and to deliver it quickly. For product manufacturers in particular, ROI has traditionally translated to “reduce costs.” However, cost is just one piece of the ROI equation.
