Transforming Industries & Customer Experience

Transforming Industries & Customer Experience

The Gist

  • Data insight. IoT informs product enhancements.
  • Customer experience. Real-time data optimizes CX.
  • Business models. IoT refines equitable billing.

In the era of the Internet of Things (IoT), “smart,” interconnected devices are generating invaluable data for businesses. This data-driven approach is empowering these businesses to make informed decisions, enhancing their products and services while also optimizing their overall customer experience (CX). In addition, it aids in facilitating accurate and equitable billing practices for customers.

 Below are five of the most recent examples.

Leveraging IoT Data for Patient-Centered Solutions

Medtronic’s implantable cardiac devices, such as pacemakers and defibrillators, are equipped with sensors that collect data on patient heart rates, rhythms and activity levels, said Isabella Schmitt, Proxima Clinical Research director of regulatory affairs. This data is then transmitted to Medtronic’s cloud-based analytics platform, where it is analyzed to provide insights into patient health status and needs.

Medtronic uses this data to provide physicians with personalized recommendations for device settings and offer suggestions for improving patient outcomes, according to Schmitt. “Medtronic also uses this data to improve its product offerings and introduce new features that align with patient needs and preferences. For instance, patients asked for control over their ability to monitor heart rates and rhythms in real time. Medtronic introduced a feature that does just this. By listening and answering their desire, Medtronic can build deeper relationships with the people who use their products, creating a more proactive and engaging patient experience.”

Through the effective harnessing of IoT technology and data analytics, healthcare companies are not only enhancing patient outcomes, but also fostering stronger relationships with users by responding to their needs and improving their overall experience. 

Related Article: Why Ignoring IoT-Enabled Customer Experiences Could Cost You

The Future of IoT-Driven Innovation in the Automotive Industry

Data is quickly becoming the most valuable asset in the automotive industry and could well prove to be the single most important differentiator of the decade for automobile companies, according to Kamyar Moinzadeh, Airbiquity CEO. 

Tesla’s approach to utilizing IoT data provides a noteworthy example of customer-centric innovation, Moinzadeh said. “Tesla actively collects data on how customers use their cars, enabling them to gather valuable insights into driving patterns, preferences and overall user experiences. With this data, Tesla is able to identify trends and patterns, allowing the company to add features and capabilities that customers desire most. This iterative feedback loop with its customers has contributed to Tesla’s reputation for continuously improving its products based on real-world usage data.”

Similarly, the data from connected cars is providing Telsa and other electronic vehicle manufacturers with valuable insights into energy consumption, charging habits and driving patterns, which can be used to optimize battery performance, develop intelligent charging infrastructure and tailor services to the specific requirements of EV owners, according to Moinzadeh.

Related Article: The State of IoT in 2022

Smart Inhalers: Revolutionizing Respiratory Care with IoT Data

Novartis uses IoT technology to monitor patient health and medication adherence, with the goal of improving patient outcomes and reducing overall healthcare costs, Schmitt said. “The company has also developed a smart inhaler device for patients with asthma and COPD that collects data on patient inhaler use and transmits it to the Novartis cloud-based analytics platform. This allows Novartis to provide patients with personalized recommendations for medication dosing and offers insights into disease management and prevention. Novartis uses this data to improve its product offerings and introduce new features that align with patient needs and preferences, like their latest features that allow patients to track their inhaler usage and receive reminders when it’s time to refill their medication.”

Thus, through the innovative use of IoT technology, some healthcare companies are pioneering a new era of personalized healthcare, enhancing disease management, and ultimately striving for the optimal balance between patient well-being and healthcare cost-effectiveness.

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