Interesting study from Accenture on how the industrial internet is changing the competitive landscape of industries.
Accenture defines the industrial internet as the combination of Big Data analytics with the Internet of Things. They see this converging combination of technologies as fundamentally changing how firm compete.
They back this point of view with some interesting findings from a survey of senior execs at larger firms. Key findings include:
Eighty-nine percent say that companies that do not adopt a Big Data analytics strategy in the next year risk losing market share and momentum.
Ninety-three percent of respondents feel that newer entrants are leveraging Big Data analytics as a key differentiation strategy.
Eighty to 90 percent of companies indicate that Big Data analytics is either their top priority or in the top three.
Eighty-four percent feel that Big Data analytics has the power to shift the competitive landscape for their industry in the next year. Eighty-seven percent believe it will have that power within three years.
Our studies on small business and big data echo these findings.
Cloud and mobile computing, the Internet of Things and Big Data - all powerful trends in their own right - are converging and reinforcing one another, leading to changing competitive landscapes for businesses of all sizes.