Top 4 Benefits of Using the Cumulocity IoT Platform
The Internet of Things (IoT) is transforming the way organizations operate by providing real-time insights into device performance, usage, and maintenance.
Software AG’s Cumulocity IoT integration platform offers a comprehensive IoT solution for managing and analyzing IoT data, providing a range of benefits for organizations looking to optimize their operations. To help organizations understand the potential benefits and costs of deploying Cumulocity IoT, Software AG commissioned a Total Economic Impact (TEI) study from Forrester Consulting, an independent research firm.
The TEI study was based on in-depth interviews with organizations that had deployed Cumulocity IoT over a three-year period, and it examined the potential costs and benefits of using the platform. Here are the key findings of the study:
- Improved Operational Efficiency: Cumulocity IoT helped organizations improve their operational efficiency by providing real-time visibility into device performance, automating device management tasks, and improving the accuracy and speed of collecting data. The TEI study estimated that organizations that deployed Cumulocity IoT experienced a 30% improvement in operational efficiency over the three-year period.
- Increased Security: Cumulocity IoT helped organizations improve their security posture by providing real-time insights into potential security threats, as well as alerts and notifications for suspicious activity. The TEI study estimated that organizations that deployed Cumulocity IoT experienced a 20% reduction in security incidents over the three-year period.
- Better Data IoT Analytics: Cumulocity IoT helped organizations improve their data analytics capabilities by providing real-time data visualization and analysis tools, as well as predictive analytics capabilities. This allowed organizations to optimize their operations and reduce costs. The TEI study estimated that organizations that deployed Cumulocity IoT experienced a 25% reduction in operational costs over the three-year period.
- Reduced Costs: Cumulocity IoT helped organizations reduce costs associated with device management, maintenance, and repair. The TEI study estimated that organizations that deployed this experienced a 20% reduction in device management costs over the three-year period. In addition, this enabled organizations to extend the lifespan of their devices, resulting in a 15% reduction in device replacement costs.
How Cumulocity IoT is Changing the Game for IoT Investments
Based on these findings, the TEI study estimated that organizations that deployed Cumulocity IoT experienced a three-year return on investment (ROI) of 128%. This means that for every dollar invested, organizations realized a return of $2.28 over the three-year period.
It’s important to note that the TEI study was based on a sample of organizations that had deployed Cumulocity IoT, and the results may vary depending on the specific needs and requirements of different organizations. However, the study provides a valuable insight into the potential benefits and costs of using IoT for managing and analyzing IoT data.
Conclusion
The TEI study demonstrates that this offers significant benefits for organizations looking to optimize their operations and improve their security posture.
By providing real-time insights into device performance, automating device management tasks, and improving data analytics capabilities, Cumulocity IoT can help organizations reduce costs, improve efficiency, and increase security.
The TEI study estimated a three-year ROI of 128% for organizations that deployed Cumulocity IoT, making it a valuable investment for any organization looking to take advantage of the benefits of IoT data analysis.
