Enterprise Asset Intelligence: IoT, Data, and What It Can Do for Business

Geoff Short
Jan 23, 2020
5G data collection data management Geoff Short Podcast IoT Jim Lester Podcast Logistics Promoted Content ThingTech
Share this post

 

“Data” is the word on the tip of everyone’s tongue. Arguably more valuable than oil, data has the prodigious power to change business, manufacturing and shipping in incredible ways. No one knows this more than Jim Lester, CEO of ThingTech. Lester joined MarketScale to discuss the state of the Internet of Things (IoT) and how businesses can benefit from data collection and sharing.

ThingTech’s fleet management system offers a holistic view of a fleet thanks to widespread data collection. When pulling usage data from different car manufacturers, for example, ThingTech can normalize the differences and offer real, usable data to clients. Lester said that ThingTech “[does] the heavy lifting for them.”

But IoT data collection isn’t used solely for fleet management. As technology prices go down, specialty logistics become more feasible. When shipping climate-controlled products, for example, ThingTech can monitor the product throughout shipment, ensuring its safe arrival. Lower IoT costs mean being able to monitor custom shipments both big and small.

It is hard to talk about IoT without talking about 5G. Lester said the reality of 5G is that it will first reach urban areas and, until 5G is more widespread, 4G is perfectly fine for monitoring trucking as it travels through rural areas.

So, what is the future of IoT? Jim outlined the three pillars of IoT adoption – connectivity, costs, and device durability. As these three trends materialize, moving from static asset management to dynamic asset management will become the norm.

For the latest news, videos, and podcasts in the IoT Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!
Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

One-of-a-kind shopping experiences
The Resurgence of Brick-and-Mortar Stores: One-of-a-kind Shopping Experiences Are Turning Customers into Brand Ambassadors
April 24, 2024

In the convenient world of e-commerce, big box stores are seeing a resurgence. Chains like Dick’s Sporting Goods, Walmart, and Target are experimenting with one-of-a-kind shopping experiences that can turn casual shoppers into loyal fans. In a recent Experts Talk roundtable, Allen Adamson, Co-Founder at Metaforce, highlighted how one-of-a-kind shopping experiences make for exciting […]

Read More
digital augmentations
Revolutionize Customer Engagement Through Digital Augmentations in Physical Retail
April 24, 2024

The digital transformation of retail experiences in physical stores has become crucial as big-box retailers strive to maintain their relevance and competitive edge in a digital era. These retailers are embedding interactive features and digital augmentations in their physical locations to offer unique, engaging customer experiences. This approach merges the tactile allure of in-store […]

Read More
experiences
Enthusiastic and Trained Employees can Enhance Experiences and Drive Success in Physical Retail
April 24, 2024

In today’s retail landscape, big-box retailers are emphasizing the importance of their physical locations, even as the digital marketplace continues to expand. Stores like Dick’s Sporting Goods and Walmart are not just maintaining their brick-and-mortar presence but are actively enhancing it with features like interactive elements and new store openings. This reassertion of the […]

Read More
The Coexistence of Big Box and Small Retail Relies on Synergistic Relationships
April 24, 2024

Despite being long time competitors, big box retailers and small local businesses can both coexist in ways that benefit the other. Of course, both retail formats are different but by maintaining their core business models, the two can bank and leverage their strengths and still be open to synergistic relationships. During an episode of […]

Read More
Related
edge computing technologies
Software & Technology
Edge Computing Technologies can Accelerate Response Times in Urban Crises
April 22, 2024
smart technologies
Healthcare
Smart Technologies Revolution: Edge Computing Ushers in a New Era of Predictive City Management
April 22, 2024

As cities across North America embrace smart technologies to improve urban living, standout initiatives like Virginia Beach’s flood resiliency program, highlighted in the recent IDC Smart Cities North America Awards, demonstrate the critical role of edge computing in environmental monitoring and disaster management. These technologies not only bolster emergency responses but also seamlessly integrate […]

Read More
Healthcare
IDC Smart Cities Awards: Edge Computing is Helping Virginia Beach Tackle its Flooding Crisis
April 11, 2024

In remote and disaster-prone areas, the rapid deployment of Internet of Things (IoT) technologies coupled with artificial intelligence (AI) has opened new vistas for emergency management and community safety in smart cities. These leading IoT deployments, highlighted at the recent announcement of the IDC Smart Cities Awards winners, solidified the role that edge computing […]

Read More